Responsibility? – $100 million CEOs – What a bunch of spoiled brats

I know some are really hurting financially right now. The markets are tanking. Well, not really. The Dow is still above 13,000. It is still up about 6% in 2007 and 30% since late 2005. If you were to listen to the “important people” you would think the world has come to the end. If the economic measuring stick is still up from the beginning of the year why are all these CEOs and Wall Street boys crying,

“The end of the world is coming!”

Simply because the “most intelligent” people in America, the ones who are “worth” $100 million salaries, made bad choices, ran their businesses into the ground and are paying the price for lack of basic understanding of economic policy. These foolish individuals, who are “worth” $100 million salaries, have broken every rule of business 101. They are about to lose a great deal of money because they have chosen to create procedures instead of paying for experienced employees.

These CEOs, who are “worth” $100 million salaries, lobbied to change the bankruptcy rules so that poor individuals who had their jobs outsourced have no chance to start over. The corporate cry babies do not want to take responsibility for their actions. These CEOs want a government bailout. The FED must lower rates. The FED must increase liquidity. These CEOs are having a brief glimpse of what the rest of the country has been living for the past 5 years. They want a bailout and the bad thing is that the FED is bailing them out by injecting liquidity. Increased liquidity means increased inflation, the thing the FED is supposed to fight. The FED will most likely help them even further by decreasing the FED FUNDS rate.

This will decrease, even further, the value of the dollar bringing ever more inflation since the US produces only 18% of what it consumes.

Why is the FED going against its mandate and bailing out a bunch of cry babies?
Why is the FED breaking every rule of stabile economic policy, sacrificing economic stability to save the butts of a few individuals who speculated on an obviously overheating and inflated housing market?

One can only imagine but I would put money on it that the definition of collusion and corruption would somehow be appropriate.

The fact is we are arriving at a turning point where all of the negative aspects of Reaganomics will come to haunt us. The piper must be paid. Stop gaps do nothing but increase the problem. Many of the cry babies have talked about 1930s type depression. They believe that it will be due to FED not doing what they want. We are heading toward a depression because we will not take a serious look at our economy and our culture. Since we will not look at the problems we will not take them on before they take on us.

Tags: Government Politics Corporate America Finance Economy Reaganomics