There is something to be said for the party at the Capitol Hill Dunk Tank that periodically invites the creme-de-la-creme from the Wall Street and Financial fraternity for cake, since they don't eat bread. Even as we are crying foul at the massive re-distribution of wealth that is taking place under our noses, our house reps, in an effort to wipe our tears and divert us, have hauled up various economic criminals (bank and auto heads), real criminals (peanut tycoon), camouflaged criminals (Treasury and SEC officials who plead incompetence rather than malicious intent), and financial criminals (Madoff et al), to a Capitol Hill Dunk Fest.Our brave leaders have put their heads in the lion's jaws for our sakes. They recognize that we are yelling for blood. And that we want justice. Because we know, in our heart of hearts, that the money the CEOs have earned is not for an honest day's work. It is "earned" with a loaded dice - by knowing the "right" people, "lobbying" for their interests, and fighting against legislature that benefits the country.
So they drag these suited, booted, arrogant, smirking, know-it-all, talking heads to Capitol Hill.
"Did you know that you were indulging in risky behavior when you encouraged your loan officers to push high interest mortgages to people who couldn't repay them?
Dunk!
"How much money did you lend out last year after you took TARP money and how much did you lend out the year before when didn't have access to TARP money? Why are both amounts the same?"
Dunk!
"How many millions did you pay as bonus to your employees with one hand, when your company was in the red and grasping taxpayer money with the other hand?"
Dunk!
"Weren't your companies the ones that fought hard against legislation for building energy-efficient cars? Now why are you coming to us for help when gas prices make your cars unaffordable to run?"
Dunk!
"How did you come to Capitol Hill today? Did you use the Corporate jet?"
Slam Dunk!
Oh, I know, I know, one cannot shame the shameless. To all intents and purposes, a tongue-lashing is not the same as a lashing.
Our only hope of reprieve from yet another bubble is to enact strict and loophole-free laws before we hand out our money to the grubby hands of the banks. But since our interests are not protected here too, we must rely on Wall Street's sense of shame and well concealed patriotism in order to help dig our nation out of the mess of their making.
Even if the dunkfest does not accomplish its goal - to shame the CEO's into good behavior, it at least indicates that at least our lawmakers feel our pain, while they are handing out the futures of our children and grandchildren to dishonest and avaricious people. We should be able to take comfort in that.
4 comments:
It all looks like the usual games that politicians play! Make some noise about introducing a bill to curb executive compensations, impose penalty on bonus paid after taking bailouts,... - and then drop the provisions from the bill under the guise of negotiations. Media, which is manipulated by corporations' influence, helps by not highlighting any of this!
Once again, the common man been taken for a ride!
I am an Obama supporter and believe in 'Yes, we CAN!' Not sure, though, how that is going to happen when every campaign promise is being undermined with some exceptions/waivers or blatant disregard.
I sure hope someone in this administration knows what they are doing. The bad part, Republicans have continued to demonstrate that they do not care for the common citizens' pains so there is really no other option!
I am still going to remain cautiously optimistic and give things some time before I turn over in my grave, which is where the greedy financial institutions execs and lax, or rather lack of, oversight has put the American middle class!
Of course, history tells us that by now, middle class all over the world has probably come to enjoy the sh@fting because that is what happens to them every time, every where. Unless, you are stinking rich or miserably poor, you better be good at bending over and be well-lubricated!!!!!
All rise and say - 'YES, WE CAN!'
I can understand your feeling of let-down. Sadly, if we continue to accept this treatment, that's what we will get. And well deserved.
Hello: I like your Blog. Cake now and then pork for desert or is it the other way around? Well done. Alphainventions.com sure is a great site.
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Hi,
I am glad you like the blog. It appears we won't even have bread by the time the money is poured down the drain (I mean, into the banks).
Jaya
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