The Dark Abyss

Most people just don’t know or understand the complexities of the financial markets. Wall Street businesses that form and create paper to make the process even more complex is even more arduous. If the financial entities were to be more forthcoming with disclosures then possibly we could better understand the reasoning behind some of the need they face. We find, however, that most of the entities that took the financial stimulus have not used the funds to fix the problems that were paralyzing the business but either purchased other entities or squandered away the funding.

Now, we find congress pouring more and more money into these failing institutions without any light of possible success. For example, look at AIG, our government gave to them billions and billions of dollars only for them to give it to other entities they owed and keep coming back for more billions of dollars. Why can’t congress force this entity as it stands now to be broken up into smaller more manageable companies and/or entities? Why is this type of risk being passed to the average person rather than being handled at an appropriate level where risk is taken by the supposed investors in this company? If all aspects were equal, the investors would be taking the risk rather than average people who have no contact at all with this entity and others whom have financial ties.

Corporate governance or rather lack thereof has been the main contributor to this current financial crisis. If the regulatory authorities were actually doing the job they are there to do this would never have happened the way it did. What ever happened to the fiduciary responsibility the corporate executives have that they have all but forgotten about and still expect the average person to support their wreckless behaviour with the corporate funds as well as the employees of the entities.

Looking ahead, it seems that our elected officials will still allow these entities to keep squandering the stimulus funding and at the same time extinguish the light at the end of the “tunnel” making more wealth for themselves and the same status quo. This “Dark Abyss” is not a hollow note but a reality that these corporate governance entities will keep doing the same old thing. How can the average individual ever hope to compete with these entities for the rights that were supposed to be assured by the “Constitution” and the “Declaration of Independence”? These documents have been rendered almost useless to the average person in this country. Our congress is not hearing the people speak! We must get the attention of our elected officials in order for them to get a reality check on what is really happening.

Over the next few months and years we may find that every thing we have done to help this crisis has not worked as touted by the economic community and powers that be. We may actually find that our nation would have been better off if the businesses were forced into bankruptcy and played out in courts rather than congress.

May we as a nation recover and flourish so that our country remains the best nation on the face of this planet with all pursuits of life and liberty to be preserved.