In April I wrote a post, Being Goldman Sachs, after being thoroughly disgusted with their practices. It was recently reported that Goldman Sachs has made record profits after the government bailout, repaying the government, but continuing with the same old same old, giving record bonuses to executives, waiting for yet another bailout in ten years, while they benefit on the front in and back end with the assistance of the American people. When are We going to wake up? If We the People did not bail these Wall Street Banks out, they would no longer be. And to believe that I was initially for the support of these banks, drinking the Kool Aide being poured by the likes of Henry Paulson, "King Henry," as the cover of "Newsweek" dubbed him--that should have been the first clue, and Warren Buffett. They are the financial experts, right? What's an average girl like me supposed to think? Who am I to believe? Who has my interest at heart when it seems like all three branches of the government and big business are in bed to the exclusion of the people?
If it wasn't for the government bailout which was created by the likes of Goldman Sachs themselves with the help of AIG, and the support of Warren Buffet, the once chairman of Goldman Sachs and silent Oracle of Omaha who is appearing more on TV in the past months than I have seen in my entire adult life (Wasn't it only that we saw Mr. Buffett once a year during his much publicized shareholder meeting?) and Moody's credit agency that Berkshire has large holdings, that looks as close to collusion as anything that we may have seen, they would be out of business. Really...is it a surprise that Berkshire has large holdings in financial institutions that received TARP funds, including Goldman Sachs, US Bancorp, American Express and Bank of America? While these guys continue business as usual, homeowners are still losing their houses with little support from Wall Street banks and the government. Major arts organizations across the US are in dire straights as the economy suffers with little help from Wall Street banks who demand that they uphold their end of the responsibility but would have welched on theirs had we not bailed them out.
Goldman Sachs is making record profits again and giving bonuses while the majority of Americans still suffer after they themselves, along with Congress, out of which the People would not have been able to borrow and default, led us into this financial crisis. The more things change the absolute more they stay the same. I'm pissed! I'm really really pissed! Are you? Well, what are We the People going to do about it? As Jack Bogle wrote in his wonderful book, Enough! (I have written here of Mr. Bogle more than once and his book, Enough! True Measures of Money, Business and Life.) If you haven't read this book, it is a must read! Now, only if we can get Wall Street to read it and then act accordingly. But I have very little faith in Wall Street. They need our help. Did I ask already what are we going to do?
10 comments:
It makes me want to throw my hands up and scream, it's so frustrating! Would to God some of those rich 'moneychangers' had to live on a tight budget like one of us for a month or two---I'll be sure to check out that book, Judith. It sounds really good. Blessings!
Well, you know what Jesus did to those "moneychangers" of course, and what he called them, eh? I'm not nearly ready to throw up my hands. And while I may be screaming, I'm fighting and mad as hell! I think you will appreciate the book, Marion. Peace and love to you!
I don't know if I told you this before but I watched a PBS special Breaking the Bank not too long ago that detailed this whole financial mess. Go into the site and read whatever's on it though you really have to see it (if and when it comes on again) to really appreciate it. We had/have no control/power, Judith. I feel as if we are but mere puppets in the scheme of things. It's disgusting, disheartening, vulgar, and it angers because you have so many losing their jobs or becoming homeless or barely living paycheck to paycheck while these men - these vulgar, thankless men - laugh at the face of the needy and feast on what they see are their rights. They're all the despicable likenesses of Maddof.
What have I done to change? Merely stopped using my cards and paying cash for everything - if I don't have the money, I longer put it on credit. It's the only thing I can do.
Yes, Rebecca, you did mention that special before. BUT I am glad to hear it again, as it is a reminder to actually find the program and look at it. Thanks for the link! I'm sure others will appreciate it too. Needless to say, I agree with the essence of your comment here. But I think there is something that we the people can do both individually and collectively. Unjust power structures only change when the people demand that they do.
It's funny how we look at Iran and other oppressed people globally and wonder why the people will not rise up against their government or against injustice. BUT we look at our government and the injustice of Wall Street and think that nothing can be done! Something can be done! Something must be done!
WE ARE NOT MERE PUPPETS! THE PEOPLE MUST CONTINUE TO SPEAK., NOT JUST FOR A WEEK FOR FOR AN ETERNITY IF WE ARE TO REALLY MAINTAIN OUR DEMOCRACY AND FREEDOM. WE FEEL LIKE PUPPETS BECAUSE WE FEEL AS IF WE DO NOT HAVE A SAY, THAT WE CANNOT DEMAND CHANGE! AND WITHOUT A CONTINUOUS VOICE, WE DON'T AND CHANGE WILL NOT COME! DO YOU SEE HOW QUICKLY THESE GUYS, AND THEY ARE MOSTLY MEN, WENT BACK TO BUSINESS AS USUAL? MERE MONTHS!!!
Excellent documentary, Rebecca. Thanks again!
Judith,
Go on now! A terrific Howard Beele like recitation and 10000000 on point. The "enablers" of this type behavior are often our elected representatives or those appointed by them. Where there is no real accountability there is greed and corruption.
"We the People" are the solution and the only ones who can provide the "incentive" for real change, be it through the ballot box or a company's bottom line. If there was ever a time our voices were needed it would be now. Billions of dollars are being spent on programs and policies that just don't work...and never!
Where do we start Auntie Judith...we can do this!
Dave - I have really been thinking about starting some sort of political action committee that would engage the People on a grassroots level because I've been so angry! I have some serious righteous friends in Washington--if you can believe that--and I really need to consult them from a purely political standpoint. One thing is for sure: If you're solely on the inside, I'm not too sure if you can bring about change.
An enabler is a great word, Dave. Most of these guys, however, are dead center in on these deals whether on Wall Street or in Washington, I'm afraid. Check out the video posted by Rebecca. It's 60 minutes long. But it's well worth it.
Judith,
Educating and engaging "We the People" is the essential first step. Policies enacted for political expediency or in return for political capital (literally and figuratively) have been the norm for decades...regardless of the party in power.
The folks in the neighborhoods know where the problems are in education, healthcare, childcare, the workplace. They know the real reason programs don't work, what needs to be done to make them more efficient and effective. The have answers but never get asked the questions. I am also finding many issues blogs and so called "grass roots" groups and even some non-profits entities are actually just shills for lobbyists, corporations, or political parties. Change,,,real change...is needed. Now!
Dave - I know what you mean about the blogs. It's like the establishment in many cases have merely changed venues. The message remains the same staid thing. I did watch a bit of the debate on healthcare in the House tonight on C-Span and I was impressed with many of the arguments on both sides.
The People most certainly know where the need is and they most certainly can work with leadership to bring about change. But the People need empowerment. Banks, Congress members, etc. count on the People ire abating over time and getting back to business as usual.
David Porter wrote an excellent piece the other day on leadership, Talk that Matters, that bears repeating:
"George Bernard Shaw wrote, 'All progress depends upon the unreasonable man.' It is sad that straight talk is considered unreasonable in some organizations when the lack of it creates a chilling impact on dialogue, diversity and change – exactly the ingredients that support high performance."
We need "straight talkers" everywhere, yet we try to tell them to be quite or express themselves this way or that. We try to insist that they conform. It's funny...even those who preach non-conformity seek conformity when the heat is on them.
As they say, "talk is cheap." I practice walking the walk and when I have fallen I admit it inwardly and externally and get right back up. The problem with many banks and government officials is that they refuse to admit their error, they take us for granted, and they are motivated purely by self-interest.
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