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Posts Tagged ‘bernie madoff’

bail-out-plan

When we used to hear the words “bail out” we would usually associate it with a sentence like, “I just had to bail out my crack addict cousin from jail.”  I find myself wondering if it isn’t a coincidence that such a pairing of words is considered appropriate for what we find being implemented by our government today.

 

Based on the information that we’ve been fed by the media, yes, I believe it was a crime what Bernie Madoff did to his investors. Clearly he was derelict in his duties.  However, I’m wondering why Madoff is a criminal and yet the heads of Goldman Sachs, AIG, Countrywide, and so many others aren’t considered a member of the criminal league? While Madoff is accused of abusing $50 billion, Goldman Sachs, AIG and others are truly guilty of abusing significantly more!  And yet there are no criminal charges brought against these leaders.  Were these professionals derelict in their duties?  Yes.  Were they apathetic towards their handling of others money?  Yes.  In such a world that we live in, there’s simply no excuse NOT to make money with so much money.  Madoff was an idiot not to have succeeded in making a return on investments of over $50 billion as are the heads of so many of these Wall Street companies and banks. Yes, indeed these criminals are being bailed out at the expense of the honest tax paying citizens of this nation.  And all for naught.  Think about it.  Does the bailout for these banks and investment companies do any good financially?  I mean really!  Does anyone think that once the nation has seen how such companies mismanage funds that any sane person is really going to trust these same companies with their retirement money?  This bail out is as insane as throwing money at the Diamond Pet Food company who poisoned so many pets due to dereliction and apathy just so that they could recover from the financial hardship such an error created!  Hey, while were at it, let’s go back in time and bailout all of the dot com companies that caused such a financial hardship for so many investors!

 

Of course we have politicians in favor of such payouts.  Apparently many of them have a problem even acknowledging that such monies are coming from their tax dollars as many of them have not even paid their taxes!

 

automotive-bailoutGeneral Motors and Chrysler just received a portion of this criminal action reward in the form of billions of dollars.  Even more ridiculous is that these companies are already anticipating failure in spite of such a bail out, as they are already projecting a need for another $14 billion!  I’m sorry.  Would that kind of strategy work for any homeowner in the U.S. today?  “Hey. I know you just gave me a loan of $1 million for a home I can’t currently afford.  So in order to make up for the shortfall I need to borrow another $2 million.”

 

Here’s the even more insane aspect of this bailout.  General Motors and Chrysler can STILL declare bankruptcy somewhere down the road and the American taxpayers will never be paid back.  And yet the American people do not have the luxury of declaring bankruptcy as a result of our tax burden.  Nope.  You can file bankruptcy and be relieved of debt for everyone else in the world except the U.S. Government.  You don’t pay them.  You go to jail. 

 

Perhaps if these automakers didn’t promote aggressive price haggling and foreign outsourcing of some of their production process they could have enjoyed more long-term customer loyalty.  While I did not get the opportunity to vote against my tax dollars being used in such a criminally insane manner, I can vote now.  And so should you.  I intend to “vote” by solely rewarding automakers who are fiscally responsible with their companies.  If money can be handled so haphazardly by these automakers, then I can’t help but wonder how conscientious these same automakers are in making my vehicle safe enough to transport my family in.  I vote no more GM or Chrysler.  If GM and Chrysler are willing to sell their soul to the devil (ie: government control in exchange for the money they received) then what are they willing to sell my safety for?

 

Does failure really deserve a reward such as those given on the backs of the taxpayers?  In that case, perhaps the British should still rule our nation.  NOT!

Copyright 2009 Kellene Bishop. All rights reserved.
You are welcome to repost this information so long as it is credited to Kellene Bishop.  

 

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