Banking executives are expected to strike a humble in defending how they use bailout funds when they testify before Congress, Reuters is reporting.
Advance testimony from banks that have received a total of $165 billion in federal aid show that the executives will insist that they have used the money to fund loans, not bonuses and higher salaries.
To emphasize their humility, the executives are expected to arrive via public transportation and not by private jet.
The executives are going to leave their jets (which we all know they have) at their mansions. It might be more “humble” of them to sell the jets and give the money to charity. Just a thought.
“Public transportation” to most of us means taking the bus or the subway. “Public transportation” to banking executives means hiring a limousine service out of a “phone” book.
It’ll be interesting to see where the executive will say all this “loan” money has gone because nobody has seen it. It’s kinda like Bigfoot, except there aren’t even any grainy photos of it.