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Small Business Think Tank [This Network is not currently active and cannot accept new posts] | | Topics
AIG OutrageViews: 159
Apr 07, 2009 9:19 pm re: re: re: : re: AIG Outrage

Tim Southernwood
Hey everyone,

Normally I steer WAY clear of political or domestic issues of countries other than Canada.
Unfortunately for all you American's on this list, you may have to steel yourselves for some negative feedback coming from outside your borders for the simple fact that the financial crisis which started in the US has affected EVERY other country in the world.

Many people around the globe are sitting at their kitchen tables with pink slip in hand wondering how and why the crisis in America could cost them their own jobs.

Those of us who understand globalization however know only too well that the world financial systems being so interconnected, and the markets so dependent on the stability of those financial markets, that when one domino falls.. it starts a massive chain reaction that cannot be stopped.

The sad thing, as others have pointed out, is that while some continue with their fancy lifestyles and even benefit from the influx of government bail-out money (aka our tax dollars) many more, hundreds of MILLIONS more suffer deprivations, dislocations, and despair.

Starvation in Africa was already present, but with the massive inflation now hitting many countries because of the worlds financial downturn.. the cost of food has soared! leaving many more without enough food to keep going.

I think that when any single country exerts so much influence over world financial affairs, they also shoulder a certain responsibility of proper action to the countries of the world. Flat out.. the actions taken that precipitated this mess were irresponsible. Those who directed the companies in those decisions at the highest level are also responsible.

I'm siding with Kathy on this, in that regardless of any contractual obligations to the employees, the companies also have obligations of greater importance to the country and all the people affected. That responsibility takes precedence. If they were paying the employees bonuses from money EARNED then I would have nothing to say, but the money comes from a Government BAILOUT, i.e. taxpayers money.
If it was my tax dollars I would say "There is NO MONEY for bonuses! suck it up princess and sue me if you don't like it."

Sadly.. that isn't the way this world works.

And so millions of people will starve, and in the US and Canada, thousands of people will lose their jobs and homes.

Think of how many lives or jobs and homes that bonus money could save and then tell me it's ok.

Just my .02

Private Reply to Tim Southernwood (new win)

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