Bailout Lines the Wrong Pockets

Posted on Posted in Business Ethics, Social and Economic Justice

Am I the only one outraged by this total misuse of taxpayer dollars? The companies that just got that $700 billion bailout are supposed to use this money to revitalize the stagnant loan market and kickstart the economy. Hello! This is OUR money you’re squandering!

  • Shareholders are lining up at the trough to capture dividends–and AIG doesn’t even know how it blew through its tax-funded payday. How can these companies take taxpayer money, claim it’s an emergency, and then pay dividends? Where is the shared risk?
  • CEOs and high executives at these companies are still expecting to take home mammoth compensation packages, after running their companies into the ground. Is it so unreasonable to expect these crooks to live on, say, three times the pay of a teacher, rather than 300 times?
  • Oh yes, and then there are the lavish parties and sales events that cost hundreds of thousands of dollars. Isn’t this a place to cut back when you have your hand in the public’s pocket?

    • And meanwhile, thousands of honest, hardworking people without financial savvy are losing their homes to foreclosure, often related to actions like balloon payments built into mortgages they didn’t comprehend, drawn up by these same companies. Can you say “taxpayer revolt”?

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    About

    A lifelong activist, profitability and marketing specialist Shel Horowitz’s mission is to fix crises like hunger, poverty, racism, war, and catastrophic climate change—by showing the business world how fixing them can make a profit. An author, international speaker, and TEDx Talker, his award-winning 10th book, Guerrilla Marketing to Heal the World, lays out a blueprint for creating and MARKETING those profitable change-making products and services. He is happy to help you craft your messaging and develop profit strategies. Learn more (and download excerpts from the book) at http://goingbeyondsustainability.com