Thanks to Wikicommons.

We at US Democrazy were excited to hear about a serious grilling going on in Washington yesterday (although less so once we found out they had run out of potato salad).

We were also disappointed to learn there was no burgers or ribs and instead the menu featured the head of Toyota car company and The Federal Reserve.

Akio Toyota and Ben Bernanke were grilled by congressional committees. Here is a look at yesterday’s BBQ (Brake issue & Bernanke Question).

Toyota Troubles

Over the past couple of months Toyota has been facing a rough road after braking and uncontrollable acceleration problems forced the recall of millions of cars beginning in November of last year.

Well the problems with Toyota have gotten to the point that the US Congress is demanding answers.

To attempt to answer Congress’s questions the CEO of Toyota, Akio Toyoda, came before congress yesterday and had this (among other things) to say:

All the Toyota vehicles bear my name. For me, when the cars are damaged, it is as though I am as well. I, more than anyone, wish for Toyota’s cars to be safe, and for our customers to feel safe when they use our vehicles.

Despite Mr. Toyota’s apologies, some felt that he was saying too little, too late.  Representative Marcy Kaptur, a Democrat from Ohio, commented on Toyoda’s testimony, saying:

I do not think it reflects sufficient remorse for those who have died

Of course Toyota’s pain is other car manufactures gains.  Both Ford and GM are offering incentives to buyers who trade in their Toyota.

Chairman Chat

With all of the craziness happening in the US economy, Ben Bernanke, Chairman of the Federal Reserve, has been a busy man.

The Semi-annual Monetary Policy Report to the Congress yesterday was just one more thing on his huge” to do” pile.

Ben said quite a bit (and answered some crazy questions) but here are some of the most interesting things he said.

On the economic outlook as a whole:

Private final demand does seem to be growing at a moderate pace, buoyed in part by a general improvement in financial conditions.

On unemployment:

Of particular concern, because of its long-term implications for workers’ skills and wages, is the increasing incidence of long-term unemployment

On bank health:

the closure of most of the special lending facilities earlier this month, are in response to the improved functioning of financial markets, which has reduced the need for extraordinary assistance from the Federal Reserve.

On bank regulatory reform:

the Federal Reserve is committed to doing all that can be done to ensure that our economy is never again devastated by a financial collapse. We look forward to working with the Congress to develop effective and comprehensive reform of the financial regulatory framework.

Time for your Questions

Now that you’ve heard some of what Congress has been asking Mr. Toyoda and Mr. Bernanke perhaps you have some questions of your own you’d like to ask.

Well post them up.  We may not have the answers but someone out there probably does (rumor has it Bernanke is a big fan of US Democrazy).