A few years ago IBM laid off 5,000 workers and their stock jumped. Using the same convoluted logic the SOBs at the company once again laid off an inordinate amount of loyal workers who had done nothing wrong except believe in the fairness of the corporate world. Once again the IBM stock rose. With each increase in the stock price the CEO and his board members reaped tremendous amounts of money and earned bonuses that would choke a horse.
Chain saw Al Dunlop did similar things to Sunbeam in 1997.
Remember that company?
Sunbeam axed Al in 1998 but it was too late. They couldn't recover and they went bankrupt. You see he got rid of so many so-called low-end workers that when the business turned around Wall St. realized that Sunbeam would not be able to handle new orders and the investors ran.
Where was congress back then?
Where are they now?
The same bunch of morons who gave you the Iraq War are now trying to hash out an agreement on how to save the CEO's of Wall Street. It appears that they think the only way to save us poor idiots who elected these bastards in the first place is to throw more money to the Corporations who caused this current meltdown.
While the logic in incredibly flawed it is way too late to argue. In order for our hard earned IRAs and 401Ks to survive we will have to bail out the scum of the earth. These people made an average of 40 million dollars per year while they took down our financial system and now they are hurting. They cannot afford to fly to Paris for dinner anymore and need us to loan them a few hundred billion dollars for fuel and spending money. If we cannot find a way to appease their obscene hunger for all of our remaining cash they will continue to offer their companies to the highest foreign bidders and we will continue to watch our country go down the toilet.
You see the simple fact of the matter is our country is run by Wall Street and the lobbyists and the 'behind the scenes' wealthy individuals, many of whom wear turbans and other accoutrement of Arab royalty when going to state dinners. So we must face the fact that Messers Bush, Cheney and friends have ruined this once great nation and give Wall Street what they want. (By the way - MS Spell check wanted to change Messers which is a general term of politeness when talking about more than one Mr. to messes. Pretty smart, no?)
So what is the problem? Do it and let the rest of us go on with our lives.
NOT THESE ASSHOLES!
Congress can not even agree on how to give away money anymore. Perhaps they are trying to find a way to keep some for themselves.
These grenadiers of DC who have never had to earn their pay do not see the need to help those of us who are drowning in debt. They pay no Social Security. They do not have health care deductions to worry about. They have pensions most of us would die for. And between the money they have stolen and hidden and will still receive when they give speeches after retiring they are more than set for life.
I say we should lay the lot of them off and Nationalize the failed corporations. Make the CEO's and board members work for minimum wage in the stock rooms unless and until they can buy the companies back. We should give them five years to do so and at the end of that time if they have not satisfied our demands we seize any and all of their property and sell it off for the public good.
Don't get me wrong, I'm not bitter. I have just had it with the rich getting richer and the poor getting, well let's just say it's hard for us to sit down anymore.