The Buck Doesn’t Stop Here Anymore

Passing The Buck

Whatever happened to the Made In White House, USA’s  ”Buck Stops Here” legacy? Has the US-Government Administration buckled up or bucked up, in eventually passing on the buck to US Taxpayers? Obama government bailed out the failed out American International Group with $170-Billion in Bailout Funds from the US-Treasury and Federal Reserve, for what? For paying $165-Million as Bonus to their failed Executives who throttled their own companies to death!

Delayed After-thought Knee-Jerk Reaction

President Obama may have got angry and in a reflex action advised his government to impose taxes on such unwarranted bonuses. However, the delayed reaction as it appears is all hogwash and more of an eyewash to pacify the nation’s tax-paying fraternity. It is a puerile attempt and a hanky-panky method of Balancing the Books. Such amateurish Obama measures are not going to boost the recession-hit American Economy, leave alone prop up the fallen canopy and least of all, curry favour with the Wall Street Gamblers. It is all the more shocking as these new bonuses as per one-sided voidable contract, were over and above $121-Million already paid to it’s 6400-employees, including Senior executives! Either the US-government is suffering from acute myopia or from a bankruptcy of good governance ideas.

Failed Attempts

Treasury Secretary, Timothy F. Geithner’s late Heimlich manoeuvres to put these financial leeches on the backfoot has failed to produce any kind of positive impact. When recession-hit America is trying to make do without bread these Wall Street Money Moghuls are fiddling while the USA burns. Nay, they are having Cake, Marie Antoinette style, at the expense of the much kicked around US-Taxpayer. Equally preposterous is the contention of Edward M. Liddy, government appointed Chairman of AIG that these bonuses are necesaary to keep the best talents in fine fettle. Whereas, they must be the worst rotten scum around to be called “executives”, and should’ve been sacked at the outset. In the first place, how would’ve they managed to pay bonuses if the Us-government hadn’t bailed them out with the taxpayers’ hard earned money? Obama has got a lot to answer, or is the eyewash “officialy accepted”? So finally the USA has an elected President of the People who does not think much of passing the buck back to them.

Unethical Practices

If the Wall Street Gamblers believed in Fair Management Principles and Ethical Practices they wouldn’t have had the guts to stoop so low as to uphold “the promised bonus” by picking the taxpayers’ pockets. And what of Merrill Lynch Chairman spending $1.2-Million to renovate his office, including a $1400-Wastepaper Basket and a $35,000-Commode?! He should be put on Compulsory Social Welfare Service routine, cleaning Public Toilets for 10-years, and another 10-years on garbage detail, clearing Wastepaper Baskets from government offices.

Conclusion

Hey folks, lest we forget, ”Charity Begins At Home”, afterall. Likewise will the US-Prez Obama and his government learn that “Austerity also begins at home”? No point in snipping others’ benefits until and unless White House inhabitants stop behaving like a Runaway White Elephant, right? There has to be a limit on Conspicuous Consumption and splurging on luxuries. If Americans continue to be worried over trivialities like Malia and Sasha’s puppies and Michelle’s biceps, then I am afraid this American Dream is going to turn sour, sooner or later.