MY LETTER TO CONGRESSMAN SARBANES: AIG
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Dear Congressman Sarbanes,
While I understand why you and others had to vote for the economic bailout package and I accept it. I believe more needs to be done to protect the taxpayer and the consumers.
AIG is a prime example of what is wrong with Corporate America. I believe that if a company is so large and so far reaching that their demise would cause the collapse of our economy or a sector of our economy, they are too big and need shrunk. Sir, if a company has grown so large and so far reaching that their demise could jeopardize millions, then they need to be dismantled, made into smaller competing companies.
To argue my point further, I do not believe it is unreasonable to request this action in light of the fact that it is I, the taxpayer, having to bail them out while they continue to act fiscally irresponsibly. Why wouldn't their executives find it utterly repulsive to throw such a lavish event for their independent sales force in lieu of their financial crisis? Their independent sales force should simply be happy to be able to make a living considering this economy is teetering on the edge of a depression.
I urge you to push for immediate action and intervention with AIG before allowing any further public monies to be allocated to that company. Enough is enough.
While I understand why you and others had to vote for the economic bailout package and I accept it. I believe more needs to be done to protect the taxpayer and the consumers.
AIG is a prime example of what is wrong with Corporate America. I believe that if a company is so large and so far reaching that their demise would cause the collapse of our economy or a sector of our economy, they are too big and need shrunk. Sir, if a company has grown so large and so far reaching that their demise could jeopardize millions, then they need to be dismantled, made into smaller competing companies.
To argue my point further, I do not believe it is unreasonable to request this action in light of the fact that it is I, the taxpayer, having to bail them out while they continue to act fiscally irresponsibly. Why wouldn't their executives find it utterly repulsive to throw such a lavish event for their independent sales force in lieu of their financial crisis? Their independent sales force should simply be happy to be able to make a living considering this economy is teetering on the edge of a depression.
I urge you to push for immediate action and intervention with AIG before allowing any further public monies to be allocated to that company. Enough is enough.
First of all, this wasn't corporate America that caused the economic crisis, it's bundling of loans into CMO and then truncating it and loopholes in this banking process...it's BANKING, not corporate America.
Who knows if the bail out money was for this lavish extravaganza, it could have already been in the works and so we'd have to call for an investigation. I'm all for that and I'm all for, innocent until proven guilty, unlike the bozo's here that take your words in quotes and misquote you to cause harm.
I believe in the free market and capitalism whole heartedly. But I also understand something else that is within every human being. That is something called greed.
Do you not know anything about the 7 deadly sins of the world?
Therefore, because of human nature, it is neccessary for our government to protect the tax payers, especially when we are bailing out companies and not getting anything in return.
AIG is too large if it cannot fail. We broke up AT&T they can break up AIG! And frankly this has nothing to do with John McCain nor Barack Obama right now. It has everything to do with Congress and AIG.
Sociology, Economy, Psychology, Real Estate and Politics would go a long way.
Want to attack corporations, then attack the Palin's on the North Slope for the monopoly with oil, then attack T B Pickens for wanting to give the oil companies the ability to monopolize any new alternative methods. All corporations effect our economy and yes I do understand greed, it's why I keep saying to fight Palin, her loyal to oil is the sin and will change our world forever if she gets in.