A Penny Saved

If you believe the media reports then much of the American public is in an uproar. The target of their ire is not one of the usual suspects such as health care. The guilty party is the AIG hierarchy. They have received so much in bonuses that our normally lazy populace has actually risen from their La-Z-Boys to travel and march in protest. Considering that greed is, whether we want to admit it or not, a large part of our makeup, one must wonder just how greedy these executives must be for us to care?

The concept of bonuses is not a new one. Businesses have been giving them to their top producers for years. Is not this the point? These white-collar individuals have traditionally been required to show that their efforts have helped make the business more profitable. Hence the formula: Do More, create more, get more. What has changed as of late is that these leaders have received funds well in excess of whatever success they created, and in some cases, when the company has lost money overall.

My issue is not with AIG or any other corporation. Big bonuses and golden parachutes have been part of the business world for decades. Often times top talent will not sign on the dotted line without some type of assurance that they will be financially rewarded in the end. My contempt is for our own citizenry. Why do so many finally care enough to speak out?

We have seen examples time and again of those from the one percentile of income receiving funds that seemed so out of proportion with the average worker. What has our reaction been? We cluck our tongues in disdain, change the channel and watch Wheel of Fortune. We witness these atrocities of our financial world like we are riding in a taxi. We look at the television screen and the whole experience seems so unreal. After all, we are not in the drivers seat. Why should we worry? They must know what they are doing. They are professionals we think to ourselves.

The reason we have never cared was that these same people, one way or another, have also made us wealthy. We work for these companies in many cases or our investments benefit from these companies actions. The avarice of these men and women at the top of the pyramid do not concern us as long as we are doing well in comparison. But when the economy starts to take a nose dive, well then, look out! The citizen and media watchdogs are ready to pounce.

The hypocrisy is astounding. Suddenly what has passed for business as usual for decade after decade is vilified. When Joe Schmo cannot afford his trophy home or charge everything to his many credit cards, well something must be amiss. When spendthrifts must tighten their belts there must be a greater issue at hand. A cause must be found. Big money becomes the scapegoat.

I acknowledge that abuses have been rife throughout the mortgage and banking industries. What I must also point out is that we, the American public, have been complicit. We have known for a very long time the way the world works. As long as these practices have benefited us we have been happy to remain silent partners. Suddenly when our own actions, or inaction, come back to bite us in the behind we yelp in pain and display a shocked look on our collective faces.

What matters now is not what the government is doing to bail us all out of the mess we created. What is of singular importance is whether we as a nation will take a long and hard look at ourselves in the mirror. What will we do when the economy eventually rebounds? Will we see the error of our ways and truly change or will it be business as usual? As upset as I am at what we have done I do have hope for the future.

We can change our lifestyles for the better if we choose. We can learn from our mistakes individually and as a nation. We must be honest about what we can afford and what we cannot. This goes for not only our wallets but also for our future. Foresight is what we desperately need. Let us see the nation and the world for what they are and be realistic as we work toward the betterment of all. To cross our fingers and do nothing would be a greater crime than any we have witnessed thus far.