Bailout bunch

In the November 24th issue of Financial Week on page 9 is an article titled Change we can’t believe in. As the opinion in the article states, it’s anything but comforting to see some of the familiar faces on President-elect Obama’s economic team. The nation may not recover for a long time because the confidence of the people in government leadership is severely lacking. The article reviews the potential conflict of interest and it does appear that due to the history of the economic team members it would be better to select a new team that has a proven background in competency and integrity. The article states, “We are in a crisis of confidence in American capitalism. These aren’t the right people to re-instill its sense of honor. Many of them should be getting subpoenas as material witnesses right about now…”What I would add is that the greatest threat facing the nation is the greed, carelessness, and corruption of our own system. Things didn’t get worse by chance, anything significantly damaging could have been prevented, but when officials and the economic elite serve themselves rather than the people there must be a counterbalance to aid the public. The nation could easily recover if you put what may be roughly five thousand people in prison. Who are those people? Those responsible for fraud, negligence, and corruption, which includes lawyers, businessmen and elected officials, and while five thousand people is just a guess, it’s enough to immediately restore national and global confidence. But since leadership is lacking, no one has the guts to do it.

Leave a Reply

You must be logged in to post a comment.