Things that make you go hmm

posted on 30th of september, 2008

I guess so many of us are looking and wondering and waiting to see what all this scandal in Wall Street means for us. Can we, the ordinary folk even contemplate the measures by which these people must analyse the risk involved in essentially betting in billions of dollars, and all the while using someone else's cash.

Few of us will escape.

For those with superannuation, it is a sure bet our provider has "invested" on one of the losers. Even if they didn't, the fallout is sure to affect the companies.

History never repeats. Hmm. Perhaps we took comfort in that cliche when the savings and loans debacle happened. And here it is again, biting us, the hands that feed the green eyed monster.

These companies, are inanimate. These companies in themselves exist for purpose, and many of these company board rooms have framed things on the wall stating their vision, policy, and ethical standards. But these inanimate walls and board tables are not the ones that make the pain. It is the people who manage these companies. People, not companies.

If you are in the waiting room of anywhere soon, pick up an old dated business magazine, perhaps only as recent as 18 months old, and read about how some of these players were being courted by the business fraternity. How these individuals were flouting their skills and market intelligence.

Well guess who is smug now! They are. Because still it has cost them little, we are the bunnies. Hmm.

Comments (1)

Posted by Photojay on September 30, 2008
The cliche is that history does repeat itself, which only makes this whole scandal that much more appalling. How many times is our government going to bail out these companies that continue to make poor decisions (or even just fall to the hand of luck and bad timing) with no plan as to what they are going to do when it all comes falling down? How much larger does the sum need to become before taxpayers say, "I know it is going to hurt a bit in the short run, but SCREW THEM!" We can pull ourselves out of this. It is all of the lobbyists for these huge corporations that want to propagate this precedent we started back in 1971 when the government bailed out Penn Central Railroad and made into a normal occurance back in 1989 when the government spent nearly $300 billion to bailout savings and loan with the Financial Institutions Reform Recovery and Enforcement Act. I say we cut the BS and get the PEOPLE the help they need to get over this and dissolve every asset of every company...(More)

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Photo credits: Catzovescu, Joseph Mercier, Paul Hakimata.

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