More AIG Chutzpah

Looks like AIG thinks that their top management deserves $165,000,000 in bonuses. Well, I for one can certainly understand that--they need to retain the best and the brightest, the ones that destroyed the company. AIG certainly wouldn't want to lose them... It's mad; the world has gone completely bonkers.

Ben Bernanke sez

the financial rules need an overhaul. Well now, who would ever have guessed?? Excuse me, but that's a given. How far along are you and your minions on writing these new rules? Care to share what these new regs might be? Any ideas? ARRGGGHHH!!!

How about a nice guillotine?

http://abcnews.go.com/Blotter/story?id=5973452&page=1

I am beginning to identify with the French peasants of the 18th century. Perhaps a few lopped heads would have these and the other CEOs who have raped our financial system thinking twice about landing their golden parachutes and finding themselves on the steps to the guillotine.

The Wall Street Financial Meltdown

I did our quarterly financial statment today. While it wasn't pretty (our retirement accounts are down by $36,000), the meltdown didn't wipe us out by any means and we won't be needing any of it to be withdrawn for another 5 years. Our debt on the house (our only debt) dropped by $14,000 which certainly brings a smile to my face. We have good health, good jobs, and a deep & abiding love for each other; we live quietly and have modest expenses. I am very displeased with the way that mortgages and other forms of credit were freely poured out with no regard for ability to repay which caused this mess in the first place but I am not overly concerned with our situation.

Now for what I more concerned about: Our nation has developed an "I want what I want and I want it right now" mentality. Get it now and pay for it (maybe) later. We squander our resources and shackle ourselves with debt to worship at the altar of More. We do it not just as individuals but as a nations--useless wars and foreign interventions. Don't we have enough to do at home? Couldn't we husband our land and water? Couldn't we tend our poor, sick, and elderly? Couldn't we provide a loving, nurturing education for our children? Wouldn't we then be in a better position to help others?

Riot On!!

Call me crazy but I am delighted with the uproar over the Wall Street bailout. It seems that Americans are waking up from the stuporous state we have been in these past years. Riot On!! Whether or not the bailout goes through, I am overjoyed that massive numbers of people are slapping their representatives around and giving them an earful of just how fed up they are.

Now maybe, just maybe, people will be awake enough to notice the cost of what is going on in Iraq, Afghanistan, and now Pakistan. One of the few times I’ve really agreed with Charlie Rangel was when he proposed a military draft. As soon as all the mamas and pappas see that their little Gap clad darling may be sent to get his arms or legs blown off, there would be massive resistance to it.