State employees are being forced to go without pay raises, again, and are paying more for retirement and medical insurance.
Prices are rising, amounting to a paycut for everyone.
Yet, the people who caused this financial crisis have been bailed out to the cost of hundreds of billions of taxpayer dollars.
And they are making huge profits and bonuses yet not hiring anyone.
And no one--literally no one--has gone to prison for it yet.
From the article:
"Most of the other Wall Street bigwigs whose firms took unconscionable risks — risks that nearly brought the global financial system to its knees — aren’t even on Justice’s radar screen. Nor has there been a single indictment against any top executive at a subprime lender.
The only two people on Wall Street to have been prosecuted for their roles in the crisis are a pair of minor Bear Stearns executives, Ralph Cioffi and Matthew Tannin, whose internal hedge fund, stuffed with triple-A mortgage-backed paper, collapsed in the summer of 2007, an event that anticipated the crisis. A jury acquitted them."
The article questions whether people should be held accountable for their actions, and also explains why they have not been held accountable thus far.
http://www.nytimes.com/2011/02/26/business/economy/26nocera.html?_r=1
Corporate crime affects more people than do crimes such as homicides, robbery, or assaults. However, because these crimes are more violent and the offender is easier to find, these are the stories that are most commonly found in the news. Of course no one is questioning corporations because they are the ones with the money and they are the ones that are paying for the media's advertisements. Now, because the media and other goverment officials are choosing not to arrest these big wigs they are affecting children's education. It's not right to punish teachers and state employees for something they took no part in. It is time for people to start asking the tough questions and bring these big CEOs down.
ReplyDeleteIt doesn't seem fair that state employees such as teachers aren't recieveing any pay raises, getting pay decreases, and getting laid off while the "big guys" are still doing fine. Corporate people and higher ups shouldn't recieve special treatment just because they have more power than the "smaller" state employees. If these people are making all of this money, then it seems like our state employees should be doing better rather than having cut backs!
ReplyDeleteI totally agree that corporate crime affects more people than street crimes, but also it causes more FINANCIAL looses that street crimes. But we do not often see this portrayals on the media because the ones in power are the ones that decide what to cover and what to ignore.
ReplyDeleteThe problem is that a lot of state employees are losing their jobs especially teachers, a lot of schools closing, and cut salaries down. But yet the prices on everything is getting higher and higher, creating difficulties for a lot of families. But in the other hand, the ones in power are getting wealthier and wealthier each day. This not only affects us, but also our children the future of this country.
If your insurance agency has not yet started out by using an incorporated insurance agency blog site, your own agency should think about these kinds of fundamental measures to move frontward, and accomplish that easily.
ReplyDeleteinsurance news agency blogging is just not a choice, it's a prerequisite money for hard times advertising