I saw this interview of McCain by Meredith Viera on NBC the other day and was a little upset by the facts presented. Why are a handful of people getting wealthy while a couple of million are laid off. There should be a law making CEOs liable for their misjudgment. When leaders make mistakes they should be punished not rewarded. If a company grows and makes profit, bonuses are a good incentive. The concept of “Golden Parachutes” is skewed, and should be outlawed. Its pretty much encouraging people to make their companies go bankrupt if they have exhausted their benefits.
Luckily we have smart representatives like Marcy Kapture that can defend us from these issues. The problem is that there are more greedy CEOs than caring Representatives and Senators. And Majority Rules in our political system.
http://www.youtube.com/watch?v=S27yitK32ds&eurl=http://blubee.com/theblog/?p=179
Basically the point is that we (the U.S. people) need to find out what is really going on inside corporations that hold assets that affect us directly. Some of these CEOs are no “George Baileys” and are our to make a buck at anyone expense.
We need to learn from Enron and start looking into these companies. The problem is that our own president is one of those selfish CEOs. Back in 1977 Bush started a company called Arbusto Energy that later merged to an other company called Spectrum 7. Whenever a company is sold or merged into an other company, the owners benefit from the sell/Merger in the form of shares or actual cash. In this case it was shares and Bush became the CEO of Spectrum 7/ Arbusto. Later a company by the name of Harken bought Arbusto/ Spectum 7 for a substantial amount. This purchase most likely not only increased Bush’s stock share but also his salary.
At the end of the day Bush cashed in and sold his shares, which is normal if you want to move go in a different direction professionally. The problem is that Harken Announced Substantial Losses shortly after bush sold his share. This was viewed as insider trading and was investigated by the U.S. Securities and Exchange Commission. Bush had enough strings to pull at that time that its plausible the investigation died in the bureaucracy of the system. Even after this mess he managed to make more than $14 million on the purchase and sell of the Texas Rangers franchise Baseball team, for which he only invested $600,000. These numbers are suspicious and definitely need to be looked at by a team of specialists hopefully not associated by the government, and make the information public.
And we definitely do not need a “tool” that cannot think for himself when it comes to the economy. We need someone that can think on their feet, someone who can make a rational decision by having a dialogue with the experts, not an a tutorial session. This is why McCain is not up to par with the role of president. If McCain gets the presidency, all of Bush’s mistakes and crooked business will be hidden for an other 4 years, potentially for ever if something is not done soon to expose all these financial twists and turns.
Here is some music to get you rallied up =)
http://www.youtube.com/watch?v=Jz8wU9DdbqU