It appears that the one thing the Bush Administration will be remembered for is not Katrina, not the wars in the Middle-East, but the fruition of the Right Wing Conservative Republican Dream...Corporate Greed.
The problem is, it didn't quite turn out the way they have always been taught while sucking on that silver spoon.
No, American Corporate Greed, made manifest in today's Mortgage Crisis, has ushered in an unprecedented event. The socializing of America by a Republican ran Federal Government.
After FDR quits rolling around in his grave, he will be most pleased with the irony that the party who made sure he wouldn't serve 4 more years actually completed what he started.
Corporate America has not only lost touch with reality, but has also lost any sense of fairness and accountability to its share holders.
The golden parachute for CEO's is nothing but a "Piggy Bank with Lipstick". It has flipped the appropriate way a capitalist company should be ran, rewarding its officers, employees and shareholders for good performances...or, everyone losses for bad performances. Not so at the top.
In today's environment, the CEO is actually rewarded more for a dismal performance.
Case in point, the financial crises that we Americans now find ourselves in due to the mortgage crisis.
Let's look at these numbers:1. 201 Million Dollars: That's the amount that the CEO's of the 8 Corporations that are at the heart of this mess where awarded in compensation in 2007.
2. 626 Million Dollars: That's the amount that 4 of the above CEO's where awarded in a "Piggy Bank with Lipstick" this year when asked to leave.
3. 41 Billion Dollars: That's the amount of losses posted by the above 8 Corporations in just the last quarter!
Let's see, shareholder's paid nearly in the phrase of Dr. Evil with his pinkie in his mouth, "One Billion Dollars" to loose 41 Billion a quarter?! That's not capitalism, that's stupidity!
But now, we the American People, are the major share holder's of the above companies once the, let me put my fist in my mouth, "One Trillion Dollar Piggy Bank with Lipstick" is approved by Congress and implemented by the same people who brought you the "Katrina Clean Up" and "The War on Terror". In my humble I'm more qualified than Palin opinion, the first Tuesday in November and January 20th can't get here fast enough!
The same party that called Hillary Clinton, Barak Obama and John Kerry crazy for wanting to spend, pinkie to mouth, "One Hundred Billion Dollars" a year to bring Universal Health Care to the American People...are now the ones who have given us stock that's not worth shit for ten times that amount!
That makes perfect sense, if you're a moron!
The party of unregulated government is now making the people of America pay the price for their serious errors in judgement.
The crazy thing is, they still think they're right!
I propose a better solution to end this economic crisis. One that I'll even let the current
administration handle, because I know they could pull this one off!
It's simple really. Either the above CEO's surrender their entire net worth, including salaries, property, "Piggy Banks with Lipstick", pension plans and insurance premiums....or they get to go hunting with Vice President Dick Cheney sometime before January 20th!
The stockholders, that's now the people of America, have spoken! Now that's Socialism at its finest!
Pay up you morons, your share holders are growing restless with your horrible performance.
Hell, I'll even buy Dick the shells!
Sir Hook the I've Now Found What Cheney is Good For of Warrick
AWESOME!!!! I couldn't agree more! I swear, if I have to suffer through 4 more years of the same politics, I'm movinf to Canada! I am still blown away by people who are supporting the lunacy of the Bush administration sheerly for principle or party sake. It is those same stubborn oafs who will vote for MCCain/Palin in November. WHY? The fear of the unknown is too great so they mask it with excuses like, "I punched him in the face and he didn't fight back!" Maybe Obama is bigger than that and perhaps he hopes that the American people are bigger than that too. The real bottom line is, NO president has even gone out on the frontlines in any war they've started, so why do they get all the credit for being "ballzy" during elections. How much courage does it take to say, "Go get 'em"? I'm pleased to learn that there are americans who are smarter than they are being given credit for. I am truly afraid that at the rate we're going with takeovers, it won't matter who's in office because all of the businesses the president will try to place mandates on will already be owned by the government. They won't push the same policies if it's going to lose them money! I don't know what else to do besides pray, vote and tell everyone I know to BARACK the VOTE!!!
ReplyDeletelest we forget how many of our generation "bought" into the 1980-90s living wayyyyyyyyy above your means...it's all connected...no one president can affect history a whole lot...except FDR who created a mess that will affect us and our children
ReplyDeleteI was taught you get what you work for,
save for, pay for, take care of
you know ...personal responsibility
and yes, I inherited, but I manage for me and the next generation
and I sleep well at night with no debts
or I could blow it all and wait for the government to bail me out..Nah!
Lady Suzanne of Greenbriar
Why wait for the bail out when it's already here! I have debts in running a business and sleep well at night, but I can assure you that no one is going to bail me out if I get in trouble! No, they'll take my home and everything I've worked for.
ReplyDeleteThe irony is that the party, of whom I am a registered member of, that believes in no entitlements sure as hell is enjoying their entitlements. Just ask the ex CEO of Lehman Brothers.
I did hate the see the Lehman situation-sets a precedent that we don't need to continue following
ReplyDeleteand you Sir Hook are one of the "taking personal responsibility" people in this country --
both in your private and your business life
however there will always be others
some of who I will see this coming week as I work at the local food pantry --
I'll be the one without the professional manicure, not reeking of tobacco smoke, dressed in not-up-to-the-minute-style clothes...not judging, just observing choices people make as they make decisions affecting their families
Lady Suzanne
Yes, Lady Suzzane, I agree with you whole heartily with your last comment! Especially the part about me! LOL! However, I think I must simplify my financial analysis posted in the blog so that the the average American can understand:
ReplyDeleteWould you pay me 1 dollar for me to lose 40 dollars of your money every time you paid me 1 dollar? I don't think so! My clients don't think so either!
Instead of a golden parachute, I would get a pair of well fitting concrete shoes to wear on my way to the bottom of the Ohio River!
Sir Hook the Fiscally Sound of Warrick
Fact: US economy depends on consumer spending
ReplyDeleteFact: Average US consumer is in debt
Conclusion: Growth of US economy depends on growth of average US consumer debt
Conclusion: Spenders are screwed (either increase debt or face recession)
Fact: Market return (average investment return) depends on growth of economy
Conclusion: Savers(investors) are screwed too
Conclusion: Sorry to say it guys all screwed! Canada is starting to look very good.
Mind you ...when the Titanic went under it sucked down a whole load of lifeboats with it...... this menas that we in the 51st State of the UK will probably follow on..
I agree with Spruitt77... Presendents and Politicians don't get involved with the frontline... but are more like Groucho Marx in the film "Duck Soup", when he said.."Remember when youre out there risking life and limb...we'll be in here thinking what a sucker you are!"
BTW...am I the only one who's noticed how now Paulison is running America, Dubya has that glazed bewildered look of an Old man whose had a fast talking biped of an Insurance salesman sell him a dodgy contract, and fleeced him of his life savings. He just hasn't a clue whats going on right now...:)) only 122 days to go...
Sir Dayvd
Well, where does one start with this. To be honest, I won't pretend to understand the complexity of the situation.
ReplyDeleteI was always taught to simply live within my means -- and never use credit. My father died with not a lot of money, but he lived comfortably, took care of his family, got to travel a little, gave away an untold amount to charity, and didn't owe one person one dime when he took his last breath.
I've tried to live my live the same way.
I've also started a couple of businesses and know that debt is almost necessary to start up a company. Like everything else in life, it has to be well managed.
In many, many, many cases it is not.
I know people who fall in the trap of credit and borrowing from accounts receivable (easy money) and use it for personal comforts and wants versus needs to grow the business or paying back expenses in a timely manner. "I know I'm past net 120 days on that bill, but I just don't have the money right now!"
I see it on a small scale, but it's all perspective at this point. What's the difference if it's one thousands dollars or one billion?
It's like the man who asks the woman at the bar if she'll sleep with hims for a million dollars cash. She says she probably would.
He says, "How about a dollar."
Angry, the woman say, "What kind of woman do you think I am."
"Madam, we've already established that, right now we're just negotiating price!"
Everything is for sale, and when someone can't afford to pay back his debts, even the bad debt is for sale.
I was watching one of the personal finance shows last night and the host was telling a women with over $50,000 in credit card debt how to call and negotiate for pennies on the dollar -- like that was something honorable. I could just see this women and husband gathering their country-club friends around their beyond-her-means home furnished with expensive credit-bought furniture and watching the show on one of their new credit-bought plasma TVs. They're all watching the episode and all her friends congratulating them, "Oh, we're so happy for you," they'll say. "Let's go to the mall tomorrow and celebrate!"
Somewhere along the line (as Sir Dayvd wrote a few posts ago) we've become a society that simply consumes more than we produce -- "net consumers" I think he called them. That's a recipe for collapse on every scale.
Finally, Bushes approval rating is pretty damn shitty -- even below credit card collectors, but:
Congressional Job Approval (DEMOCRATICALLY CONTROLLED) **********
Approve 22.0%
DISAPPROVE 70.0% **********
Spread -48.0%
Democrats have to recognize that since the 73rd Congress in 1933, for a MAJORITY of THE LAST 65 YEARS, Democratic Houses of Representatives and Democratic Senates have CONTROLLED the nation and the President.
A TOTAL of 38 Sessions with Democrats in CONTROL for 28 of those!
So, who is to blame?
Corporate greed feeds on consumer/individual greed.
The question is:
How do we want to define ourselves as individuals, community, nation, world -- and how do we get there?
Like I said, too complex for my brain. Thanks, Dad for simplifying. I'm trying.
Sir Bowie of Greenbriar
Well Said Sir Bowie!! My father gave me the same example to live by. I must admit that I have lost my way a few times; however, the course is never too far away.
ReplyDeleteYou're correct that corporate greed is a bi-product of individual greed. It takes several greedy individuals, or sometimes just lazy individuals who go along for the ride, to form a greedy corporation.
The lessons start at home. Our father's and mother's give us a course to sail by. It's up to us to navigate through cultural and spiritual storms and stay on that course, if it was a good course to begin with.
I think Crosby, Stills, Nash and Young said it best: "Teach Your Children Well"!
Now to Sir Dayvd's list of Service Men...I come from a long line of Democrats and I am the only registered Republican in my family. I changed parties when I started making a lot of money because I was told, and let myself believe, by business partners that is what good owners do. I'm the only male, now including my son, who has never served in the military.
ReplyDeleteSo, in our own little family poll, every Democrat male in my family has served, and I, the only Republican have not.
Of course, I quit voting Republican a long time ago, gave up my Country Club Membership and have embraced my family tradition of helping others who are less fortunate again.
The fact is, there are great Republicans and Democrats, and really sucky Republicans and Democrats. We need to find the middle ground, the Unity through Diversity that both good sides have to share. That is why I believe in and will vote for Obama. Yes we can!
Sorry for all the typos in the above post -- I got way too excited to prof-reed mi wurk.
ReplyDeleteBwoie
A world record in comments for our blog! Good rant Sir Bowie. I would like to clarify that my home is not tied financially to my business, which means if I did go belly up I could keep my home. Of course, I don't plan on that happening and I do always pay my bills. Responsibility is the watch word here, and Irresponsibility is something to be avoided now and in the future. Now, where's those rummage sales? I have a feeling I might be doing some buy/sell agreements at them soon.
ReplyDeleteQuite right Bowie... this is why i am now intrigued now the Central Banks of our countries " has "bailed" out the private banks and insurers... how the heck are they gonna get this dough back....?/ what is it?/ in the region total of 400 Billion???
ReplyDeletethats on top of the fact the Chinese have a hand on one of your nuts in the form of a several trillion dollar debt... even with my simple brain i'm guessing the sums no longer add up...which ever way you slice it... If you guys stop buying their cheap stuff now you enter your new "Age of Austerity"..they are going to want some of it back to bail out their companies.
One thing that has come out of it, is to highlight one of my big bugbears in life..ie So many people are out there working soo damn hard for Charities just to scrape a few pence together...and soon it will be the annual telethon on TV and they will go apeshit saying woohooo we've broken the record total..of say 10 million dollars... when really....Goverment reserve banks could actually all stump up a billion dollars each..out of these reserve they are only too happy to throw at Bank share holders....and they would simply cure virtually every Charity on Planet earth......and make the world a whole whole lot better place to live... even if they said we'd give 10 dollars for ever dollar the public puts in...it would be something...
not sure where this rant has come from but seeing everyone else is ranting online today ...i might as well get in there.
sir dayvd
I agree Sir Dayvd. That was my point in the original post about the same people against providing reasonable health care for all because of its "cost" are now bailing out a bunch of greedy corporations because it's "good for us", and we get left holding the empty bag, the bill and even worse off than we were before.
ReplyDeleteI'm on the Board of Directors of the Area March of Dimes and we are 50% behind on our upcoming fund raiser in October. Charities are going to have a ruff time. We've cut our donations because income is down.
Just think what a Trillion Dollars could really do for mankind?!