Citi-Goose and Barney Gander
It’s not difficult to see the inexcusable gross overspending in some of America’s corporations. For years, some actions at the highest corporate levels have been indisputable flamboyant abuses of shareholder money. And when that behavior continues in companies that receive exorbitant federal “bailout” funds, credulity is strained beyond limits.
Consequently, the fury that President Barack Obama and Congress have expressed concerning this behavior is fully warranted. Congress has hauled some (even if often the wrong) managers into publicly broadcasted hearings to belittle and humiliate them. President Obama has chosen to make piñatas out of these abusers in his teleprompted speeches. The result? The appearance that something is being done.
The irony, however, as has been frequently pointed out, is that both the president and Congress are guilty of the very same practices. The “stimulus bill” and all of the subsequent abusive spending in the “omnibus bill” and budget are, to our nation, far more extreme than any malfeasance done by any corporate executive. The transfer of wealth embedded in these plans makes Bernard Madoff’s Ponzi scheme appear rudimentary.
Since Congress and President Obama have repeatedly utilized the terms “accountability” and “transparency” in their rhetoric, it is time to insist that they be held to the same standards they place on their “subjects.” If the Obama administration and Pelosi-Reid Congress are allowed to drastically dilute and erode our free market system through their extreme forms of government regulation and spending, then their standards of regulation should be made equally applicable to their abuses as well. It is time that we address our public servants in the same ways we have chosen to treat our corporate executives. After all, as they put our nation on the road to eventual hyper-inflation or stagflation, the eradication of the dollar, and depression symptoms that will make the Great Depression not so great, they deserve at least the same level of regulation placed upon corporate America. They not only serve us but are fully federally funded in doing so.
One “change” that needs to be instituted is to eliminate, or significantly loosen, the immunity from criminal and civil actions that these officials enjoy. Ironically, the current Congress and president should favor this as it affords them an excellent way to repay one of their biggest constituents for their votes — the trial lawyers. Just as corporate executives have to face legal issues while in office, there is no need to protect Barney Frank or Harry Reid from the same burdens of the law while they are supposedly “serving” our interests. This is especially true when the charges would concern issues of spending and oversight as compared with those issues more intimately connected to foreign policy and national security for which immunity is more meaningful. Such release from immunity will certainly guarantee they will give that extra surge of consideration before further destroying our financial system.
Silly article. It is as childish a thing as Marxism. I know you’re trying to point out the hypocrisy, the inequity, but you’re ignoring basic human nature. If the government does it, it’s not a crime. That’s the rule everywhere.
Makes perfect sense!
1. Marc Malone:
Yea; Good solid reasoning; So, if a cop does it, it’s okay, right?
While you want to hold our elected officials accountable for their very questionable actions, you are wasting your time. They make sure the rules that the populace lives by don’t apply to them.
That’s how you can tell you’ve elected the wrong people to office.
We’re approaching a crisis point in American politics that can only be resolved by a thorough house-cleaning. The likes of Reid, Pelosi, Frank, Dodd, and Obama must be removed from office as soon as possible. These people do not have the best interests of the country in their hearts, only their lust for power. Power corrupts the weak.
Why is there no mention of George Bush’s American Dream Downpayment Initiative? It was highly touted at the time of passage (2003) as a plan get low income families to buy their own homes. It was a big component of “the ownership society” and every Republican voted for it. http://www.hud.gov/news/releasedocs/addfund.cfm
Sounds great, but how do you propose that we mice bell that cat?
No, Cybergeezer, he’s pointing out that if a cop does it, they’re much more likely to get away with it.
I loved the line, “a clear “insider” transaction.” Very clever!
It should be changed to, “a clear ‘insidehim’ transaction.”
regards
Luke, the problem front and center is not WHO caused this. There are plenty of hands dirty with this mess both Dems and Repubs. One might even argue that it all started with Clinton and his deregulation yada, yada. What people don’t seem to grasp is that this administration is making the problem worse.The problem are great, but let’s focus on them and get them righted. Instead we are being shoved a big plate of Government Goo. The supposedly “rich” have lost 40% in the markets so I am betting they aren’t near as rich as they used to be. How are they going to cover the cost of these progrems? Answer-they are not. It is mathematically impossible for them to do so (whoever they are) We are all going to pay for this and end up with nothing but debt. You will see a few road projects starting, perhaps a few underpriveleged kids will go to a new school. In the meantime the government will OWN all of us. And they are one mean taskmaster. Get us out of the current mess-then enact your socialism if you must. Have you ever stopped to wonder why current admin is pushing all of this through so FAST? The average Joe can’t keep up with it, there is a lot going on behind the scenes -easily found if you look around for it, that isn’t being broadcast or noticed. Cared to death
nancy said today she was giving up her private jets that cost 5 mil per year and that the house would be paid based on performance like private industry from now on. they would submit to drug testing and means testing so they would not get a free ride on medical premiums. an across the board 30% pay cut was also in order. the elected officials in the house get it. now if harry and the senate…….
big bad joe biden also announced today the middle class task force was contemplating hiring some people who are actually in the middle class since all the current members are not. joe said just because he hangs out at home depot once in a while that really doesn’t count as being middle class.
Nosinin, It is important to understand what caused the current problems so that we can figure out ways to undo it, and take steps to prevent doing the same thing again in the future. I believe a driving factor in causing the mess we have was the belief that we can get rich by owning things rather than by actual work. People were persuaded to trade their work (in the form of future mortgage payments from their paychecks) for owning real estate. Similarly, tax breaks were given to oil, gas, and mining companies for owning land (and made retroactive to mulitply the effect). At the same time, bankruptcy laws were changed to be one-sided in favor of lenders. If someone was retired and their primary income was coming from a company pension, and the company made bad financial decisions, the company could go into bankruptcy and reduce those pension payments then come out of bankruptcy and continue operating as a normal company. If that same retired person, now having a reduced income, declared bankruptcy, the judge in bankruptcy court could not change the terms of that persons mortgage. They owed the money regardless of their financial situation. Why should a business be able to declare bankruptcy as a way to reduce payments to individuals but an individual can’t declare bankruptcy to reduce payments to a company? Who are the laws supposed to help, we the people or businesses? Reversing bad policies will not re-inflate real estate prices but it will get people working, which is how we will have to pay for the mess we are in.