Friday, September 14, 2012

Vultures on Corporate welfare



Interesting editorial in the paper yesterday about corporate welfare. Timely as it was published the same time talks about plans for the next round of stimulus was reported. Remember back in the day when corporate welfare was a bad thing? Conservatives would call it communism. Things have sure changed.

I remember one of the signs from the occupy movement saying “We have privatized gains and socialized losses. That is not capitalism.” Back in the day, corporate welfare was a dirty word. The right who had a hate for Trudeau, would call him a Communist for wanting to create a top heavy government that created jobs by employing people. Yet what they’re doing now is far worse. At least he had a desire to create jobs to strengthen the economy. Now the corrupt politicians simply burn tax dollars by handing out money to banks and Wall Street of all places. It is insane. Back in the day, the right would be screaming fiscal irresponsibility.

The editorial talks about business grants that aren’t paid back. One can legitimately argue that offering business grants will help create jobs and thereby improve the economy and the tax pool. My flaming concern is when we hand over billions of dollars to the banks who as we say, didn’t need it and to investors on Wall Street most of whom history has shown are crooked.

The dismantling of the VSE is a prime example. It was full of fake pump and dump stocks. That trend continues on all the markets. Investment fraud was what caused the Greek financial crisis. What was public money all of a sudden became private money, then mysteriously disappeared through investment fraud. Bailing out investment fraud is insane. Doing it on an ongoing basis is simply criminal. It is a misappropriation of tax dollars. It is a scam.

The Mitt Romney Bain Capital model kills jobs and embezzles money from companies while it feeds the banks with insane interest on loaded debt and fills these vultures’ pockets with insane consulting fees. Business consultants who extract millions of dollars in fees from sinking companies before they go bankrupt should be in jail. They should not be getting tax dollars to help them steal. That applies to Mitt Romney at Bain Capital as well as Newt Gingrich at Fannie Mae. They even call it the vulture fund. We should not be aiding and abetting that kind of fraud with tax dollars.

1 comment:

  1. Banish the political system of government. Operate as a corporation, where people are hired into a job, accountable to that job, and fired if they are not; just as a successful corporation would operate. The political system is not necessary. They are like little cells, not unlike terrorist cells. They don't punch a time clock,they give themselves financial securities and benefits that are out of line, and some locations have even passed laws that politicians can never be jailed, no matter what they do. The very style of politics allows politicians to manoeuvre and manipulate money and power to their personal agenda, and it is done in secret, and it is dangerous to give the lion's share of power to one person, as they can turn greedy or deranged, as like a Hitler or a Harper, and do a lot of damage. In a corporate-style of government, it would be tighter and less easy to hide sneakery. Politicians have invaded our societies and our government, although nobody asked them to. They have morphed themselves into the roles, and the public has just accepted the intrusion. It's not too late to get sensible with the "almost half" of our lifetime earnings that we contribute to the tax base and entrust them to manage. Every 4 years we have to put another nefarious politician into power and control, and just wait to see if they are going to rape us or not. Our most imperative government responsibility is justice, and they have failed to provide us with public safety. The courts are a revolving door for the same criminals, because that keeps them in perpetual paychecques, but it does not keep our children safe from drug dealers and pedophiles, and our jails have morphed into a workout session in the gym for the brotherhood while we feed them, clothe them and entertain them. I think we can do better than that!

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