Many neo-capitialists would argue that government intervention in the market-place is totally uncalled for because, "the market will evenutally fix itself." This quote is something I have been told time and time again but it just doesn't make sense anymore.
Actually the definition of capitalism doesn't make sense anymore! And regardless of whether you are a capitalist, a socialist, or totally apathetic, something needs to be done in order to get this economy back in line. A.I.G (American International Group) has a disasterous solution, give executives who got us in this situation bonuses! And no, I didn't stutter.
And, as we speak, Obama is demanding the Treasurer do everything in his power to try and stop these executive bonuses.
Why? Because AIG got a huge chunk of bailout money and they are not being very responsible with it.
If someone loses all your money do you respond by giving them more, even when the money is NOT yours? Don't reward stupid greedy people for being stupid and greedy. I mean do I really have to exlpain this? I'm a 20 something stupid person myself and yet I get it? Does greed really diminish common sense and human decency?
I guess so.
However, at least Obama is trying to do something do something about it.
The NY Times reports: "Mr. Obama called A.I.G. “a corporation that finds itself in financial distress due to recklessness and greed.”
“Under these circumstances, it’s hard to understand how derivative traders at A.I.G. warranted any bonuses at all, much less $165 million in extra pay,” Mr. Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat?”"
Under these circumstances?! How about under any circumstance a company should not be able to blatently be so greedy and irresponsible.
Click here to read more on this breaking news.
Actually the definition of capitalism doesn't make sense anymore! And regardless of whether you are a capitalist, a socialist, or totally apathetic, something needs to be done in order to get this economy back in line. A.I.G (American International Group) has a disasterous solution, give executives who got us in this situation bonuses! And no, I didn't stutter.
And, as we speak, Obama is demanding the Treasurer do everything in his power to try and stop these executive bonuses.
Why? Because AIG got a huge chunk of bailout money and they are not being very responsible with it.
If someone loses all your money do you respond by giving them more, even when the money is NOT yours? Don't reward stupid greedy people for being stupid and greedy. I mean do I really have to exlpain this? I'm a 20 something stupid person myself and yet I get it? Does greed really diminish common sense and human decency?
I guess so.
However, at least Obama is trying to do something do something about it.
The NY Times reports: "Mr. Obama called A.I.G. “a corporation that finds itself in financial distress due to recklessness and greed.”
“Under these circumstances, it’s hard to understand how derivative traders at A.I.G. warranted any bonuses at all, much less $165 million in extra pay,” Mr. Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat?”"
Under these circumstances?! How about under any circumstance a company should not be able to blatently be so greedy and irresponsible.
Click here to read more on this breaking news.
No comments:
Post a Comment