Saturday, September 20, 2008

Wish I Had a Golden Parachute

I am thoroughly disgusted by the financial crisis in the US. The financial institutions screwed up beyond belief. How can such companies be so stupid with money? I didn't study finance, accounting, or economics in college, but even I know what they did was inappropriate for any business that wants to stay afloat.

I am even more disgusted by my own government for bailing out these failed companies. I've read a few articles about this from liberal and conservative analysts, and they all think this is a bad idea. I concur. Why should the government reward a failure with billions of taxpayer dollars? An even better question is why would the government reward the failure of a CEO with a multi-million dollar golden parachute? In theory, if you fail, you get nothing. If I opened up a small business and failed, the government wouldn't help me. Why is it different for a CEO of a major corporation?

With an estimated cost of more than half a trillion dollars, Americans are left wondering what happens to them. How will the average American benefit from this buy out? They will be rewarded with a bill. And higher cost of living. And inflation. And...and...and...nothing. Now, if the government was a little more intelligent (please hold your laughter, I know it's wishful thinking), it could've used that money to repay all the poor Americans who are losing out. If that money was divided among every man, woman, and child in the country, we would all receive approximately $1600. That would be a nice gift to help pay mortgages, grocery bills, education costs, etc.

Who is the government really helping? Is this really a government for the people?

And no, I will not endorse either Barack Obama or John McCain. I doubt either will really fix the problem. In the words of Kang, "It doesn't matter which candidate you choose, either way your country is doomed, doomed, doomed!"

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