With the latest news of another government bailout in the financial sector, three things become clear: Corporate leaders, the 21st century version of Robber Barons, will never be held accountble for their loses under the current regulatory system; our own greed will be our un-doing - a once great nation is brought to its knees; our shame is the failure to realize that there are uses for government besides defense and sucking up to lobbyists.
We have let the free market drive us to the brink of financial ruin. International corporations have co-opted out national interests. But most interestingly, while we seem quite happy to cheer the Privatization of profits, we allow the Socialization of our losses.
If we truly believed in our own system of Free-Markets, Behr-Stearns, Fannie Mae & Mac, AIG should have been left to twist in the wind. I understand why we couldn't allow them to fall, but perhaps we should at least take away their CEOs multi-million dollar bonuses and stock options. If you lose that much money, there has to be some accountability.
If we, the taxpayers, are forced to bear the burden of corporate malfeacense and greed, then I demand restitution. No more golden parachutes and outrageous salaries/bonuses. No more revolving door between the financial lobbyists and government to set up regulations that weaken out economy and help only those at the very top. Lastly, if/when these companies finally do come back around, they must be tasked with directly helping the Americans who have suffered during this crisis to recover their homes, livelihoods and dignity.