2/5/2009 11:05:59 AM
Obama, banks and Wall Street
Hello and thank you for sincerely following your empowering mission, Robert.
I am in Perth, Australia and as I write this, a current affairs program is running on my television, just following the news. They are discussing the US bank bailouts and your President's proposal to cap payouts and salaries for underperforming bank executives.
I find it telling that one of the stakeholders who are crying foul about the proposed caps, stated emphatically to the Australian news crew that the "Government should stay out of banking issues". Apparently it is ok to bail out the banks, and consequently protect the positions of their executives. However, it is not ok to place conditions on the use of your taxpayer's money by capping the unwarranted greed and lack of responsibility of those who caused the current mess, according to view of the Wall Street boffins.
There is no part of the world which has been unaffected by the greed, incompetence, and criminal irresponsibility of the relevant bank executives.