Upon watching the recent TARP (Troubled Asset Relief Program) bank bailout accountability hearings, I wonder who is truly more vulnerable. Is it the eight CEOs of the nation’s biggest financial institutions, or would it be those to whom these banks steward? This is a sticky situation.
Of what has been brought before the Federal Financial Services Committee, these CEOs have allotted themselves million dollar bonuses, at the coincided timing of approaching the Fed for assistance. They knew their companies were in serious jeopardy of becoming extinct. Now, they are being asked what has happened to the monies allocated. Not one of the eight sitting before the entire nation would respond. Strange, indeed!
Banks and other financial institutions have no problem boosting credit and giving bonuses to their executives. Although, to the millions of clients—in the U.S. and internationally—who have been loyal customers for five or more years, we are all oh-so-fortunate to receive maybe twenty-five cents interest by the end of the year.
Not everyone speaks Economese. It’s very complicated, which brings me back in time. Do you remember when missionaries would travel through all the orts and villages throughout medieval Europe and spread the Gospel? Of course, they spoke Latin when reading from the Bible. Nobody could understand a word they were saying, allowing the clergy to interpret the word of God as they saw fit, supporting their political agendas.
I see the CEOs as the priests, elusively browbeating common, hardworking folk in to believing the “Almighty Dollar” is all that matters! Are we to blame for feeding them their lucrative lifestyles? Are we struggling to make ends meet, when all we want is peace of mind and harmonious nests, and lending a hand isn’t a misinterpretation of “you scratch my back, I’ll break yours”?