Who Do We Blame?

Who's to blame for this mess we are in? AIG, GM, any number of banks, Wallstreet? I don't think we can point the finger at any one particular company or industry, but then there is plenty of blame to go around. What I find really disturbing is that these industry mongers just don't seem to understand the role they have played in putting the job market and the economy in the position we are in.

OK, the CEO for GM resigned. But how many CEO's have EVER been asked by the President of the United States to quit their job!!! How far do you have to run to ever escape something like that. My guess is that there is no hiding from that one! But keep your eyes open and remember his name, Rick Wagoner. Some other major corporation will snatch him up. He won't join any of us in the ranks of the unemployed. Of course the poor thing only walks away with approximately $23M in pension and close to $900,000 in stock and deferred compensation. How will he survive???

We are all well aware of the scandalous bonuses paid out to AIG executives - I just can't wait to see the list of names and the amount each person received. And yes, we have the right to see this information. We own 80% of the company. You better believe that the entire Board of Directors knows who got the bonuses and how much they were. It will be just as interesting to see which of these people returned their bonuses after the public lashing they took via the media. Do you think the CEO, Edward Liddy, returned his bonus? He only asked the employees who received these bonuses to return half of it. What was he thinking???

I actually read an article the other day from someone who supposedly understands Wallstreet and brokers, etc. The writer said the people who work in these industries don't make big salaries but instead depend on their annual bonuses to make up the difference. Their annual salaries - $75,000 - $100,000. With today's job market, I would love to find someone offering that kind of salary; but these people feel like they are struggling to get by. Well like we say in the South, "Bless their hearts!"