Joined: Mar 17, 2005
Location: Staten Island
|Posted: Thu Sep 18, 2008 7:22 am Post subject: You cannot escape the responsibility........
From Thu Sep 18, 2008 3:00 am to Tue Sep 23, 2008 2:59 am (included)
|"You cannot escape the responsibility of tomorrow by evading it today"
Our government does not have the money to fund a legitimate health care program.
Social security is on the verge of bankruptcy
Thousands join the rolls of the unemployed each day
And we have no money to properly care for our returning soldiers or education or our country's infrastructure.
But it does have $85 billion to bail out yet another corporation.
First the Dot Coms, then the Savings and Loans and now those involved with sub prime mortgages.
When will it end?
We hear that the government couldn't let AIG go under because too many innocent people would be impacted and we do understand.
But the fact of the matter is that we have heard it all before.
Where is the regulation?
Executives will continue to make decisions based on greed as long as they know that in the end they will be bailed out.
Billions of dollars have been paid out in salaries and golden parachutes and the rich continue to get richer while the rest of us suffer.
Almost a century ago Ambrose Bierce described corporations as "an ingenious devise for obtaining individual profit without individual responsibility"
Doesn't look like much has changed in a 100 years.
And it will not change until we get some kind of real regulation that holds corporate executives responsible.
Because as the market starts to crash they are the only ones that have parachutes, golden ones at that.
And they will get their multimillion dollar packages and taxpayers will have to foot the bill for bailouts after they are gone.
Corporations have proven that they can't regulate themselves so maybe the government should mandate that all packages be 100% stock based and only exercisable 5 years after they are granted.
Might make the executives a little more responsible.