What's the Difference?
(Photo: Keith Syvinski)
I read this morning about another scam involving Robert Allen Stanford and about $8 billion worth of CDs. You've also got the Madoff scandal. Some people say there could be many more scams that will surface in the near future due to investigations that are supposedly ongoing. And then many will come along and blame them for the problems this country is facing. And they are not without fault, as scams of that proportion should be severely punished. Unfortunately Madoff isn't exactly having a rough time with life right now considering how many peoples' fortunes were lost at his hands.
But people say the answer is more government oversight - that the SEC didn't do their job. Again, I'm not going to argue that point as it's probably true.
The banks! It's the banks fault! Predatory lending is the problem; Poor management is the problem! Again, there is truth to all this.
There should have been more oversight of Fanny Mae and Freddie Mac! Definitely, and maybe it's not such a good idea to put so much stock in two Government influenced programs...
Ah, but you say that we should give the money back to the people, who can use it best. That may be true. But will all of them use it best? Will not some of them waste it on needless entertainment and toys, while missing their mortgage payments (for a house they should never have been approved for buying)?
Here is my point: At every level there is greed and corruption - because at every level there are people. "I can spend my money wiser than Wall Street or Washington!" And you may be right, but are there not companies that are just as efficient with what they have? What makes you better? There may even be (somewhere) someone in Washington or at the State level who cares more about his/her constituents and less about the check they got from the special interest group that makes up 1% of the country's opinion... I'm not making a point about which system works the best. What I want to get across is that the same things that happen with Madoff and Enron, can happen with Blagovich and Burris, and can happen with individual people that think a double-digit return is normal in this economy.
Here is the solution. Somewhere, out there, there must be a few people who have the ability to think of the country before thinking of themselves. We need to find those people and get them in office, at any cost.
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