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Where did the money go?

Seattle Post-Intelligencer, David Horsey  (The Spokesman-Review)
Seattle Post-Intelligencer, David Horsey (The Spokesman-Review)

Good morning, Netizens...

I think perhaps this is one of the David Horsey cartoons upon which we will all agree, when he asks the unspoken question, “Just where the dickens did all that money the government gave the banks go?”

It seems each time I consider the bail out, and the potential for additional money thrown after the bad, I get more irate, little good that it will do me. Here, presented without additional fanfare, are some pretty straightforward rules that I feel should be obeyed before any more funds are dispersed to bail out ailing banks and/or other American institutions:

No more “golden parachutes”. Let the insufferable pricks that run these failing banks do without their bonuses or other special recompense. In fact, let them live on the same economic platform where most Americans are attempting to survive: no bonuses, no health insurance or no other benefits. Let their retirement funds and 401k's apply to the debts they caused. Can we say minimum wage?

How about full accountability? I was extremely furious the other day watching several bankers testify before the house subcommittee, when they denied any responsibility for their failing banks. If they aren't responsible, who is?

Cancel the orders for the new Lear jet, if you please. For that matter, not only cancel the Lear, but no more limousine rides, rental cars or other high-end transportation. Let them ride in whatever junkyard cars that seem most fitting, given the amount of bail out money they are requesting.

Of course, if any of these rules were to be applied, it would stand to reason that nobody in their right minds would ever want to be bank Presidents, now would they? Would that be an improvement? I wonder if by trading one greedy corporate type for another, we haven't simply created a multi-generational problem that still will not be cured. After all, if you've seen one corporate-type, you've seen them all, no?

What is the solution?


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Spokesman-Review readers blog about news and issues in Spokane written by Dave Laird.