Wednesday, March 18, 2009

More about the AIG bonus scandal

Patrick: The AIG bonus scandal is just the latest in the business culture of ridiculously high compensation for executives. People are fed up with this fiction that anyone's work is worth that much more than another person's work. I hope the government will be tough on these AIG guys and that the news will get around that this sort of system (where the super rich build their empires of wealth at the expense of average working people who are only paid an adequate, or even a less-than-adequate wage) is simply immoral.

Call me a Christian Socialist if you must. I'm not sure I really qualify for that label; I'm just a person who sees that "the emperor has no clothes" when it comes to the ludicrous philosophy that some guys at the top of the food chain are worth millions, while the people at the bottom are working for soooooo much less.

I don't believe that unrestrained "free market capitalism" will self-correct when it comes to this kind of oppressive wage difference. There's way too much greed and dishonesty and special favors from super rich to super rich. The government ought to tell corporations that they need reasonable "caps" on compensation for executives. We also need good workers' unions and better minimum wage laws -- and some kind of universal health care, which doesn't bankrupt small businesses.

Many other countries have universal health care; and I don't believe the scare tactics of the big drug companies and the mega-profit health conglomorates that tell us how bad the medical care is in those countries. (Go rent Michael Moore's movie "SICKO" and tell me that he doesn't make some very good points.)

I believe in the dignity of each human person and I refuse to bow to the Golden Cow of the so-called "Free Market" (built as it is on a very unlevel playing field).

Here's a warning from an early Christian leader:

James 5: Warning to Rich Oppressors (from "The Message" paraphrase Bible) --

1-3 And a final word to you arrogant rich: Take some lessons in lament. You'll need buckets for the tears when the crash comes upon you. Your money is corrupt and your fine clothes stink. Your greedy luxuries are a cancer in your gut, destroying your life from within. You thought you were piling up wealth. What you've piled up is judgment. 4-6All the workers you've exploited and cheated cry out for judgment. The groans of the workers you used and abused are a roar in the ears of the Master Avenger. You've looted the earth and lived it up. But all you'll have to show for it is a fatter than usual corpse.

CNN Caller Says AIG Execs Should Be Shot

Patrick: When you read this article, remember that I didn't suggest death for the AIG overpaid execs; only waterboarding until they agree to give back their bonuses. I'm merciful.

Hey Rick

Wyden-Snowe Proposal Could Have Saved Govt. $3 Billion Or More

Wyden

Flashback: It Was Bush, GOP That Opposed Executive Compensation Caps

Bush

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