The BAILOUT!

The BAILOUT!!

What should we do with these yahoos who are running all the companies that the government has bailed out?


How about Fannie & Freddie’s separate bailout?


Should they be allowed to do business as usual with our taxpayer’s money? Given huge signing bonuses, incentive packages and private perks that are just part of the status quo with these high power jobs.

I say NO WAY. The government is on the right track by limiting pay and incentives for the highest executives, but I contend they do not take it far enough. The executives running all of the companies, from AIG that received $69.8 billion to Citizens First Wholesale Mortgage Company that received $20,000, receiving any amount of the bailout should be subject to stringent spending regulations.

The executives are the obvious ones to start with, but this should trickle down through the whole company. Give the executives great pensions tied to the success of the company. Stock options equal to the pay they think they deserve that must be held for 5 years after they leave the company. No company jets and spa days allowed. Maybe true team building retreats where the whole company is invested in its’ success and all can benefit with stock options if the company benefits. Even the file clerk could have a great idea that may make copiers almost obsolete for the company and result in thousands saved!!

If end of fiscal year is coming and there is money left in the budget, it should be rolled into next year, not spent on a bigger and better unneeded Widget! Or useless conferences.

These companies need their feet held to the fire. Even if they are under new management they need to be held accountable and penalized if appropriate. Their incentives need to be tied to their success rather than given money for just saying yes to the job!

I say go government and reduce their pay, be a watchdog, attempt to regulate them and make them accountable for one of the biggest financial wrecks in modern times.

Maybe this won’t happen again. Who am I kidding, it may not be today or tomorrow, but some oafs are out there with money, power, connections and the knowledge already planning how they can scam a greater amount of people and profit while watching the mess implode on itself.

BUT for now, lets play smart and realize this is real money and not monopoly money and make those who borrowed it accountable by not allowing them to be given any more significant financial incentives unless we see results!