It's MORE than just AIG

[radfringe]

We have the AIG bonus headlines. OUTRAGE! PUBLIC ANGER! MAD AS HELL!

The anger is not just at AIG bonuses. AIG has become the poster child. Which is not to excuse AIG as some hapless company caught in the middle.

AIG doesn't get it. Citibank doesn't get it. Bank of America doesn't get it. Wall Street doesn't get it.

We're angry. We're angry at being manipulated by fear, by panic, by worry. We're angry at being screwed time and time again.

We're angry at the deceptive practices of financial companies. We're angry at oil companies gouging. We're angry at rates being raised for NO DAMN GOOD REASON by credit card companies. We're angry at being told we have to make sacrifices - yet see those who put us in this position are being rewarded for their failures. We're angry at politicians making excuses, back pedaling, spinning and dragging their feet. We're angry at the lack of holding people accountable and responsible for the mess.

I am reminded of a company where I once worked. We were told the company was in financial trouble. We would have to forgo raises and take pay cuts. Within a week of that memo - the President of the company arrives at work in a brand new Delorean. Were we angry? You bet, many quit their jobs on the spot, many others left soon after.

There will be hell to pay if SIGNIFICANT and MEANINGFUL action is not taken to hold these companies accountable. Looking forward is all well and good, but if you don't know where you've been, if you don't know where you are - then which way is forward?

[dkf]

1. Yes but accountable for what?

Unless you can pinpoint bad behaviors, you can't correct them.

That is why assessment of blame IS important rather than broad undefined frustration and anger.

Once you figure out what is to blame you create laws to correct the problem so you shouldn't have to worry again. And when people tell you its obsolete or no longer needed, DO NOT LISTEN TO THEM.

Frankly, anything less than legislation isn't good enough. Relying on good behavior is foolish.

[Berry Cool]

3. Excellent points.

Until we figure out what allows this to happen, and put laws in place that prevent it, we will not be ahead. And we will go right back to what we once had if anyone later repeals those laws. That's what we learned from the broader spectacle of corporations and financial markets gone wild. We know what acts once prevented such things, and that when they were repealed, all hell broke loose.

[democracy1st]

2. does it seem like this admin doesn't get it or is it just me ?

[radfringe]

4. it does seem like the admin doesn't get it

I'm hoping it's just a question of lag time between a new admin getting set up, assessing their positions and starting up investigations

Yet, the whole "looking forward" business coupled with the 'reluctance' to investigate has me concerned. And then there's the concern if significant investigations are done that only mid to low level people will be doing the frog march and the real criminals still waltz away with billions.

[Possumpoint]

5. Is It Possible

that corporations own the media and have a controlling interest in Congress to the point where they control the flow and tone of information going out and can control the laws being passed? YES!!!!!!!!!!!!!

Till that changes, nothing changes.