mormondemocrats
Browan
Dale Dunkin
adjohn08
brainscientist2008
demlawyer
lisajenkinsFriday Forum:A case of rightous indignation?
Posted by brainscientist2008 on March 20, 2009
As a very even keeled individual, I rarely generate genuine anger, but when I heard of the A.I.G. bonuses, my reaction was best described as visceral. Was I feeling righteous indignation or jealousy? As it turns out, I was not the only one. From my reading in my hometown paper, The Washington Post, my reaction was measured and kind compared to many others throughout the country. So what do you think/feel my fellow Mormon Democrats? Is there just cause for righteous indignation? If so, what is the appropriate way(s) to approach this messy situation?
Advertisement
HJFudge said
There is a cause to be indignant. That people who so utterly failed should be rewarded for failing so utterly using resources given to the company in order to help it survive is wrong in several levels.
The trick is not to let passions get in the way of good sense. At this point, there is very little to be done about it…and in the grand scheme of things it is a mere fraction of the money that has been allotted to AIG and other companies. The costs to letting AIG go under would be far far greater than keeping them afloat even while they abuse funds given to them.
Still, something must be done. What that something is, I am not sure and if I hear a good idea I will pass it on.
They key thing to remember though is that while it is ok to feel Anger and Indignation, to act based solely on such emotions is irrational, unwise, and very unchrist-like. Stop, step back, evaluate the situation with a cooler head and then Act.
My 2 cents.
Dale Dunkin said
Good 2 cents.
The actions of AIG demonstrate the attitude and social ideas of those at the top of corporate America. If any middle manager or self employed individual were to do the same thing AIG and other companies are doing they would be fired or go bankrupt. “Corporate America” over the last 20 years developed a sense of entitlement. Bonuses are no longer a measure of success or in any way determined by the company’s’ ability to justify such costs. Even companies that have done well can not justify the CEO bonuses and golden parachutes given out in the last decade. This attitude is no different than the “regular” employee who feels they deserve to take home a ream of paper or box of markers. Entitlement is entitlement regardless of the amount of sucked from the company.
An interesting point to all this AIG discussion happening in Washington is that very few people, non of whom politicians, seem to recognize the hypocrisy in letting companies break “contracts” with unions, pensions or any labor related contract yet so easily justify excessive bonus packages as “well negotiated contracts” that can not be broken. In fact some even see large payouts as simply proof of a skilful CEO. Union contracts are not negotiated with skill? Don’t get me wrong I am not 100% for unions, but similarities in contractual obligations require such a comparison.
My personal outrage is offset by the fact that the recent bills passed by the House and I believe soon the Senate are not constitutional. The exact legal jargon evades me but congress can not pass retroactive bills that target and punish specific groups or people in the way they are trying. Morally it is sound and justifiable; our legal system is not a system of justice rather a system of law. The outrage should but might not keep other companies from giving such bonuses. If we have learned anything from “free markets” is that public pressure will not eliminate such bonuses it will simply spawn very creative ways of masking such bonuses.
Dale Dunkin
Andrew said
Most definitely — on a rational level these people made very bad decisions, maybe even committed fraud. They should be punished to the full extent of the law. I think we ought to have some sort of licensing regime so that people like this can be barred from the profession. If lawyers behave unethically they can be disbarred. Why not have the same standards for the people who handle our money? I think the huge component of our current system that’s out-of-whack is personal responsibility. Especially responsibility on the part of the people who understand the complex financial instruments involved. Until that balance is restored (or created) we’ll keep having the same stuff happen again and again on the same scale.
CakvieraCip said
Hello all first of all id like to introduce myself as an avid teeth whitening fan and encourage everyone interested to Check out my teeth whitening systems. On another note I really doenjoy the Forum and am very excited to begin posing!
aceking said
Hey been browsing this site for ages now and thought i should sign up and spread the word!
I’m ed
(please move this if its in the wrong place and bare with me, I’m new!)
SoundJohn said
Hey! Thanx for this beautiful place of the Inet!!
agedeavawible said
Congratulations?
loobrieli said
Привет друзья!
Невероятно , но так и есть – женюсь!
вот как Вы на это смотрите?
з.ы. сорри если не туда написал, имоции