Monday, October 6, 2008

Run away profits by corporate excutives

The worldwide financial crisis, the most important current issue, needs law makers full attention to alleviate economic problems developing worldwide in order to maintain resemblance of stability. Partisan finger pointing needs redirecting to the chief executives, who are begging for bailouts while most are "earning" millions of dollars. Treasure Secretary Paulson and the Bush administration, proved themselves not completely ignorant, by deciding not to bailout the Lehman Brothers firm. Finally good government. While our economy has gone to hell, and his company fell into bankruptcy, Richard Fuld when totaling stock sales, bonuses and salary dating back to 2000, Fuld managed to earn a staggering $484 million! Under what conditions could you possible justify the Lehman Brothers bailout when witnessing such greed and selfishness. I have absolutely no sympathy for executives with those business plans, and in fact hope they loose everything and go to jail. I congratulate the administration in making a common scene decision, at a time where common scene is looking more and more like genius. While Republicans and Democrats point fingers, Americans and our economy is going to hell in a bucket, and executives are making incomprehensible salaries. Traditionally, I have been a practitioner of limited government, ensuring personal freedoms (which are also diapering left and right), however I regret saying the tighter regulation may been prudent. When left to self-regulation and the doctrine of free-enterprise, the greed of mankind suffocates the lower-classes. With no relief in sight we must all strap in for a wild ride.

No comments: