Where is my Bailout?

Tue, 17 Mar 2009 22:13:00 GMT

     I think the most popular question people are asking right now is where is my bailout. The U.S. deficit is soaring to exponential numbers. Two trillion dollars, and people are still getting laid off as companies downsize the general populus and roll out the red carpet for the choice few. The big bonus payout is absurd and out of control. I understand the concept of retaining top talent, but can't the bonus wait, or be made in partial payments. Just as an analog, if a Hollywood a-list celebrity starred in a film and it bombed, the movie production company would lose money and the bonus payout for box ticket purchases would suffer as well. Why is it that a CEO or group of high level executives, can star in the U.S. economy movie, completely fail at what they do, but yet still receive regular salary and a bonus.
     One major thing being different, is if a movie is terrible, a lot of people get to hear about it before they go waste their money to see it. Where as with corporate bailout, we hear about the failures, but still have to pay. I am a BMW tech by trade, and I am paid on production, honesty, and successful diagnosis and repairs. If I were to work slow, mis-diagnose vehicles, and operate with unethical practices, I would not make very much money, keep my job very long, and find it hard to gain employment at a competitor.
     Why then can a CEO run a major Fortune 500 company carelessly, lie about his intentions, keep his job and get paid a huge bonus? What can the public do, in a united effort, and in a politically correct format, to hold accountable those getting bonuses for bad job performance. Should the government intervene with the bonus payout? If financial institutions received bailout funds, were there any rules and regulations regarding bonuses, and if not, then why? I heard mention of our government having more clarity during one of the President's speeches. But, at this point in time, the glass is looking a little cloudy. I believe it is more important to assist the common citizen with getting back on their feet, and only after that, then worry about paying the bonuses if they are obligated and warranted.
     Our society is like an automotive engine. If one cylinder starts to cut out, the car will still run, not well, but it will still run. If 2 cylinders cut out, the car will still run, but in a "limp-home", mode. If you lose anymore cylinders, better call a tow truck. The advantage to having a choice to take the car for repairs is Capitalism at its best. Unfortunately, when it comes to financial institutions, it seems everyone is a crook, and no one knows how to correctly repair anything. Right now, my bet is on my car helping me survive these economic times.

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Where is my Bailout?