This post is just about the greed that appears to have invaded our society
Watching all the ins and outs of bailouts in this current climate bought me to the conclusion that parts of our modern society are just plain greedy
Maybe I am wrong but how can a company
( Banks , Insurance Companies or any other company justify not taking the money offered to them to help with the current credit problems because of one reason and one reason only ) GREED
The same people whose bonuses will be affected due to guidelines that accompany the money make the decision of taking or not taking the money to ensure the company they manage survive and many are willing to say NO purely so they will get their bonuses, not all but some will surely fail without the money.
I also wonder how they should even be entitled to bonuses when the company they manage has made bad business decisions.
Many could also have the same thoughts regarding the unions who represent millions of workers who because of their strength have created an environment where companies with strong unions could not compete with non union companies. ( I will say this though in these difficult times the Unions have recognized that they need to work with those companies for the workers to keep their jobs and the company to survive )
Do not get me wrong the CEO's, traders and directors of companies that are successful do deserve bonuses, they are some of the brightest brains in our society and many burn out very quickly in these high stress jobs.
Also Unions are an important fabric of society ensuring that their members share in the wealth they create through hard work .
But when GREED becomes the only factor in decisions it is not good for the rest of society
Sorry for this political post , just watching some of the current decisions makes me sad
Steve
PS these are only my opinions not trying to upset anyone
5 comments:
I think it will be a sad day when people are afraid to state their opinions for fear of offending someone, somewhere.
If people get offended, they can get over it!
Greed is at the foundation of this mess - and until people's attitude of "me first" changes, our society and this financial situation will not get any better. Having said that, I believe that some of these companies should be allowed to fail. If they cannot get themselves out of the messes that they have gotten themelves into, they deserve to fail and let the chips fall where they may. Bailing out without making changes will not be better for our economy in the long run.
Things will without a doubt get much worse, before they get better. The only question remains - how deep will we go?
I especially agree with your statement about people getting huge bonuses even when they don't do a good job. What's up with that?! Before I retired if I didn't do a good job I wouldn't even get a paycheck let alone a huge bonus!
Gee, I'm a teacher and I don't get bonuses at all, no matter how well i do my job.
The hard thing to understand is the mindset of these "bonused" executives. They simply to not "get it." In their world, the bonus is an essential, normal part of life. They honestly do not comprehend the outrage of the US taxpayers.
Your opinion is as worthy as the next man's. Don't ever be afraid to express it in the proper forum...and since this is your blog, it is the proper forum.
I couldn't agree with you more.
You just have to wonder about some of these people's mental state.
But their mentality is how we got to this point in the first place and I think times are going to have to get a lot tougher before people really realize just how wrong and out of hand things have gotten. It's one thing to EARN a bonus...it's entirely another to take bonuses off the top, when the money was intended to aid a failing business. Rather makes me sick to my stomach.
And I second everyone else's opinion about voicing yours. We all need to be voicing our opinions and taking note of the officials who are listening to us and those who are not. We may trade one crook for another for a while, but if we keep voting them out and replacing them, maybe eventually we will be able to bring some democracy back to our government. We can all hope right??
Gee, I guess I should say, I understand the guys taking the bonuses are not elected officials, but a lot of how things got as bad as they did was because our elected officials were not paying attention.
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