Saturday, February 28, 2009

Too Big...For Their Britches

01 March 2009

So now the big cry from the conservative side is against nationalization. Well folks, hate to tell you, but it is already here. The only difference is that the Federal Government is letting the new owners of these banks, brokerages and dens of thievery (you and me) continue to be poked in the eye by the little rich kids who haven’t been told that their not rich anymore and who think their crap don’t stink and allowing them to continue to do whatever they want to. Who are WE to question THEM? Well, I guess we’re only the ones who put up how many billions to bail their butts out of bankruptcy, that’s all!

“I’m too big to fail and you can’t do anything about me taking my bonus', my vacations with the company jets, throwing lavish parties (but I already bought my new gown a month before the bailout, so it must be okay to still throw the party!!) and I’ll make a bigger pain in the ass of myself if you don’t play the financial game just like I want to have it played.” Not to mention continuing the same management style (and attitudes) that brought on the problems being dealt with right now.

Well, wait a minute…wasn’t it by the generosity of American tax dollars that you were saved from the brink of bankruptcy.

“Yes, but you still haven’t gotten the clue-bomb that I’m too big to fail. So you can’t touch me or I’ll tell Mom on you.”

If I remember right, someone being on the brink of bankruptcy hasn’t stopped you guys from hounding about 2% of the population with mortgages that are currently unable to make their mortgage. It certainly hasn’t stopped the calls to their homes when these same taxpayers have missed credit card payments. Why is this any different?

“Aren’t you listening!!!! I told you already, we’re too big to fail. We’re too big to touch. So there!” (this is the part where they stick out their tongue at the news cameras and give us raspberries.)

But I certainly don’t recall in 1990 the government offering to bail out my Dad when he lost his corporation and house to bankruptcy….Oh, that’s right. He ISN’T big enough for the government to allow not to fail. Different rules, different game….or is it?

The new game needs to be that if you don’t want nationalization while you’re still at the reigns of your company…don’t take government “bailout” cash. None. Zero, Zilch... Nada! You say you’ll go bankrupt? Good, declare bankruptcy already and stop draining the taxpayer pockets with your piss-poor mismanagement and all the other frivolities that WE keep having to pay for.

Believe it or not, you are not too big to fail. So stop taking the funds or just calmly move over and let Uncle Sam step in and guarantee the funds they have spoken for. Then Uncle Sam can finally evaluate and acquire all your assets for the Resolution Trust Fund 2 to reorganize and sell at the appropriate time.

No golden parachutes, no fun parties with cool bands, no corporate jets flying to Washington to plead your case, no whining, no crying, no more of your gross mismanagement of funds and policy, no more fleecing of the taxpayer, no more “too big to fail.” Amen
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