Sunday, October 5, 2008

Bailout or Handout

Well the greed mongers got their bailout and once again the taxpayers will be left holding the bag. It wasn't enough to ship jobs overseas under the guise of improving relations with our neighbors or to save corporate America money. The thought being that if corporations could save money on salaries they would lower prices and/or increase wages to those employees still employed in the US. Also the removal of the expense of complying with various regulations would lower costs and here again allow for increased salaries.

Wrong, the old trickle down theory didn't work before, it hasn't worked and will not work in the future. People have lost their jobs and then lost their homes because of the greed that has been enabled by members of both parties. Now we are frightened into excepting this $700 billion gift to the greediest. Even now we are being told that they are not sure that this will work but they are sure that doing nothing would create an even worse situation.

As long as corporate America is not held accountable for their actions; as long as senior management is given 'golden parachutes' regardless of how their companies perform employees and taxpayers will continue to be screwed. This the same type of logic that people employ when they ask for federal help in rebuilding their vacation homes after they are repeatedly destroyed by hurricanes. 'I made a stupid decision not once but several times but I shouldn't have to bear the expense of this mistake on my own.'

Well I pay for my mistakes and when I can't meet expenses I get penalized, no one comes to my aid, at least not more than once. Yet as a taxpayer I am tired of repeatedly bailing out companies that should know better. The auto industry, the airline industry.

Ah, common sense, how I long for the return of good old fashioned common sense.

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