we're quickly approaching the 3 month anniversary of my unemployment status. i was downsized because there wasn't enough work to pay my salary. like many across the country folks are losing their jobs and worse losing their homes. two weeks ago, my neighbor was evicted from her home for the second time. i have empathy for anyone who is homeless but sympathy i have none. see, she did what many of these ceos at financial companies did. she gambled with money that wasn't hers. as a result of her bad decision, she lost an asset....i.e. her home. in her case, the person who came to her so called rescue defaulted on the loan as well. so her credit is SCREWED as is his because the house(i.e. asset) went into foreclosure.
america supposedly is a capitalist society. capitalism is all about survival of the fittest. in hard times, some businesses are going to fold; it's the nature of business. so why is it then that our government has decided to "bail out" companies that practiced poor decision making to gain big profits? did the average joe benefit from any of this profit sharing? what ever happened to taking responsibility for one's actions? this mess was committed by ceos/cfos who gambled with our money. money that you and i trusted to these firms to manage. instead of choosing sound investments that would mature over the length of time, they decided to gamble it all for instant profits. no one was complaining when ceos/cfos were earning tens of millions as bonuses. at some point as history has taught us, the bottom drops out but no one was prepared for that. instead, financial companies pulled an enron and the big money makers ran to the hills expecting the government to cover their ass. and guess what.....that's EXACTLY what this current administration plans to do. the ethical thing would be to have all the failed ceos/cfos give back ever cent they earned with interest to the companies they defrauded. i don't believe for one minute that no one knew what was going on. as michael baisden would say that's some fragginackle bull!!!!!!
what leaves me scratching my head is that no is that there's no system in place to bail me out if i don't have the money to pay my bills. i can't call bank of america and say, "sorry folks, i'd like to pay my bill but i don't have a job so i'll get you next time." the retard is supposed to come on tv tonight to convince you(the american public) that this is a GREAT IDEA. this is the same man who has spent billions on a war that appears to have no end. yet we aren't any closer to having peace. what this says to the small business owner is if you can't pay your bills or your staff you only have one option....close shop. personally, i think that's the same thing that needs to happen to these financial institutions that are closing left and right. you made PISS POOR decisions with the money the public in trusted you with. now you're crying wolf and expect the same group of people that you SCREWED OVER to help you. trust me, like many of you i have a 401k plan that may go under so i realize the risk involved. their talking about putting salary caps on ceos/cfos salaries. is that really going to help? is that financial responsibility? if you do an excellent job i have no problem seeing you get compensated for it. but if you FUCK UP like the folks at AIG did, then you deserve to go to jail and should pay back every penny that you received. i don't see it being unreasonable. people get fired from jobs everyday for screwing up and i don't see why having an MBA should shield you.
when are we going to start using common sense? if it looks to good to be true, it probably is. stop lending you don't have to people, businesses and foreign countries that have no intention or ability to pay it back. i don't see any country running to our rescue. i don't see europe or asian markets running to our rescue because of inflation/recession(which the government states vehemently that does not exist). it's time that we all developed a side hustle and became entrepreneurs for ourselves instead of depending on government and big name companies to provide for us. there was a time when we were innovators and on the cutting edge of technology and inventions. yet we've gotten lazy because we were mesmerized by easy money.
there's no doubt that something has to been done. spending money we don't have in the hopes of making a profit sometime in the future isn't one of them and that's all this current bill proposes to do. it's built on the premise that once the markets will stabilize, people will regain their trust and reinvest. what is there to invest in if everything is overseas? how can you make any money if there are no jobs to support your family and provide for your basic needs? how can you invest if you're not working? it's all interdependent. this is a lesson for all of us. how we act now will have repercussions for years to come. let's be the example for the future by taking responsibility for our inaction by not giving the government a blank check.
2 comments:
stingsWhy on earth was this thing 'ever approved'. When I look at what is transpiring nationally, I just shake me head because the people of the U.S. just are not being represented (well) by those that represent them nor have they put foth the effort to represent themselves. I do not see anythiing getting better anytime soon.
Now we have another stimulus package. Was either correct, I don't know. People needed to see that something was being done; even if they didn't benefit directly from it. I would suggest that all efforts and investments remain state side. The country participates in a global economy so removing ourselves doesn't help. Printing more money doesn't help either because it devalues the cash currently in circulation. Markets have always shown periods of growth and decline, we just weren't prepared for a fallout this dramatic.
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