A Bad Cycle
August 11, 2009 - by
My grandmother used to say one bad act leads to another. Here’s an example: Up on Wall Street the Masters of the Universe got so wrapped up in their own greed, like Midas, they ruined themselves. Then the dominos started falling: Congress stepped in to save them by giving them eight hundred billion dollars of other peoples’ money; then Citibank, Bank of America and Merrill-Lynch used part of the ‘bailout’ money to pay their executives $11.6 billion in bonuses; and, now, having been snookered Congress is going to cure the problem by taking charge of setting executives pay.
So Congress will not only be telling people how much they pay in taxes but how much they can earn.
Greed led to the bailout which led to more greed which led to the wrong cure which proves each bad act leads to another – and the cycle’s not done.
Posted in General
A Bad Cycle
August 11, 2009/
My grandmother used to say one bad act leads to another. Here’s an example: Up on Wall Street the Masters of the Universe got so wrapped up in their own greed, like Midas, they ruined themselves. Then the dominos started falling: Congress stepped in to save them by giving them eight hundred billion dollars of other peoples’ money; then Citibank, Bank of America and Merrill-Lynch used part of the ‘bailout’ money to pay their executives $11.6 billion in bonuses; and, now, having been snookered Congress is going to cure the problem by taking charge of setting executives pay.
So Congress will not only be telling people how much they pay in taxes but how much they can earn.
Greed led to the bailout which led to more greed which led to the wrong cure which proves each bad act leads to another – and the cycle’s not done.
Posted in General