The stock market was buoyed today by news that the US government appears to be set for another mammoth bailout. What the heck? The deficit is already running near a trillion, what is another $15B or $25B between friends?

We have all heard about the fiasco of AIG getting $80B and still blowing $500K on a weekend event. But that is topped by the story of the big 3 automaker CEOs flying into Washington to ask for $25B on their corporate jets.

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they’re going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

"It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious."

He added, "couldn’t you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it."

You can watch it here. How much does it cost?

Wagoner’s private jet trip to Washington cost his ailing company an estimated $20,000 roundtrip. In comparison, seats on Northwest Airlines flight 2364 from Detroit to Washington were going online for $288 coach and $837 first class.

Ford CEO Mulally’s corporate jet is a perk included for both he and his wife as part of his employment contract along with a $28 million salary last year. Mulally’s family lives in Seattle, not Detroit. The company jet takes him there and back on weekends.

Only 1 CEO (Chrysler) has put forward that he would take a $1 salary to stay on. The good thing? These guys have learned their lesson! After being beaten, GM has agreed to sell ‘most’ of their corporate jets and then decided to join Ford and sell them all.

What is even more interesting to me is the fact that there seemed to be less pushback on the $800B financial services buyout than on the $25B automaker buyout. Congress is really making a stink about the auto buyout. Maybe they are all invested in Citi?

I wonder if China is planning on bailing out any of the 67,000 factories that have closed across China over the year? The workers of one factory were asking for 2 months back wages … about $440 each.