Federal Bailout Blues

by Mike Sugerman, KCBS

Listen to Zack Kaldveer of the Consumer Federation of California interviewed by KCBS’s Mike Sugerman about the federal bailout bill. Kaldveer stated the bill was "The largest transfer of wealth from the public to big business in US history," and "…one of the worst pieces of legislation ever enacted." In explaining where some of the money is going, Kaldveer pointed to some of the kinds of benefits being doled out to CEO’s by the banks, including "cash bonuses, stock options, personal use of company jets and chauffeurs, home security, and country club memberships."