Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Who’s The Boss?

Posted by Larry Doyle on December 28, 2009 12:04 PM |

I almost vomited this morning upon reading the lead article in The Wall Street Journal. The principles and values I cherish and which I believe are the keys to our long term economic prosperity are under continual siege. The American dream is under siege, as well. Our nation’s economic future has never looked so cloudy and uncertain. Why? As The WSJ writes, After the Bailouts, Washington’s the Boss:

Only as the recession recedes will it become fully evident how permanently the state’s role has expanded and whether, as a consequence, a new, hybrid strain of American capitalism is emerging.

One thing is clear: The government is a much bigger force in today’s U.S. economy than it was before the financial crisis. “The frontier between the state and market has shifted,” says Daniel Yergin, whose 1998 book “Commanding Heights” chronicled the ascent of free-market forces starting in the 1980s. “The realm of the state has been enlarged.”

Why am I so concerned? For the following reasons:

1. Washington may be the boss, but who is truly the chairman of the board? Wall Street. Don’t think for a second that Washington does not continue to serve at the behest of Wall Street. Don’t think for a second that the financial regulatory structure is poised to truly protect investors from those who would prey upon them.

2. The Washington political process promotes self-interest instead of true transparency, truth, and integrity. The wealth of evidence on this front is overwhelming.

3. Washington attracts mediocrity and achieves mediocre results at best.

4. Washington’s waste, inefficiences, and self-dealing are stealing our children’s future.

While Washington may be the boss currently and Wall Street the chairman of the board, ultimately each and every American can be the boss if he/she so chooses. How? Hold the bums from both sides of the aisle accountable. The power of the vote is our only means of taking back our country. Washington needs a total cleansing with a powerful disinfectant from determined exterminators. That’s you and me.

Spread the word of the corruption and conflicts of interest within the financial regulatory structures which I have tried to highlight so extensively here at Sense on Cents.

It is our money. It is our future. It is our country. If we allow those in Washington and on Wall Street to steal it away, we will have only ourselves to blame.

Give ’em hell.

You’re the boss!!

LD

  • hongloan

    I’m starting to think that there is not much difference between our capitalistic society and the communistic one I left 18 years ago. I look forward to paying back these bailouts for the next 40 years of my career, and many more to come if history repeats itself, which it tends to. The banks have bought and paid for the laws that Congress passed. Congress and both major parties represent corporate interests, not those of the taxpayers.

    • anonymous

      Larry –

      What opened the door for the Nazi party in the 30s was public anger over a similar bank bailout and the self dealing to ‘connected’ groups/people that was revealed afterwards.

      Another similarity, America was a source of funds to Germanys’ financial/economic engine until they withdrew due to their own capital needs at home as the crisis worsened….much like China does for us now….for now.






Recent Posts


ECONOMIC ALL-STARS


Archives