Wednesday, February 04, 2009

Fat Cats Get a Cut Back

I'm happy to see our new President telling CEOs of companies that accept bail out money that they can't use it for bloated salaries, bonuses, and retreats. Of course, this doesn't apply to the first bailout, since that money was doled out to anyone with no strings attached, but still, good thinking on the preemptive stupidity on the part of our President.

I do agree with him that firms and the people that run them should take responsibility for the state of their businesses. Those running a corporation should do it in a responsible manner, trying to ensure the success of that company, thus keeping people employed. CEOs should not be rewarded for failure.

I'm also glad to hear politicians say that they would be held accountable by the American people. The only problem I have is... what do they mean by "accountable"? What is the punishment they will face if their "stimulus" package doesn't work? What are they using as a measurement of success?

Since our Government is now demanding that companies who receive taxpayer money now pay their "fat cat" CEOs a certain amount of money, run their companies efficiently, without wasteful spending, without outrageous perks, we should demand the same from our politicians... after all, politicians receive taxpayer money as well. Should we chastise GM or Ford executives for flying in private jets when our own "public servants" do as well? Lets be fair, no private jets for bailout CEOs, no private jets for bail out politicians.

AIG got their hand smacked for lavish "retreats", so shouldn't we smack the hands of politicians (namely the Democrats in the House that passed a bill that called for $524 Billion to create 388 State Department jobs (which equates to $1.35 million per job created). I'm just guessing that middle class people aren't going to be the recipients of State Department jobs that pay a million bucks. I'd say that was an attempt at wasteful spending of OUR taxpayer monies, so should we hold everyone that voted for such a thing accountable? Should they not resign in shame like we called for the resignation of AIG CEOs?

While we're at it, I'm glad to see that two prospective government officials bowed out of their offered jobs because of tax issues. As our new President said, we shouldn't treat public officials any different than we treat or regular citizens... except for that guy that will soon be the head of the IRS. If the first two were a "mistake", I think its only fair that the same rules apply to everyone, and for those that approved that position and treated him differently than a private citizen... what about them?

Just some things to think about in our new "everyone treated the same" country.

1 comment:

Tracey and Huffle said...

It's an admirable sentiment, but how long do you think it will last?