Responsibility

How to End the Credit Crisis

Don't forget the trade deficit. The challenges in re-building and reinforcing industries should be on high priorities. Incentives are needed for other industries on scales as high as, if not more than, those for the financial industry.

Seven Uncomfortable Predictions for the Economy

With so many identified problems, why not also identify something that people can do to help? For example, trade deficit is a key factor. People should change their behavior so as to reduce import and to increase export.

Congress' Handling of AIG Bonuses Is Shameful

The Congress should be shameful for being late to be taking hard actions against the excesses of Wall Street and its associates whom many are members of the Congress or people like Geithner and those lawyers who will be coming out to cover for their Wall Street associates.

For too long, these people made their rules and used their gimicks to steal money from people who are less knowledgeable about financial, tax, and legal matters, instead of performing their duties of protecting the financial well being of the public and betraying the public trust. The crisis has finally waken up enough people who agreed that "enough is enough" and is keeping pressure on the negligent Congress and Washington to do something.

Even the public has shown certain shamefulness about themselves for being tolerant and conforming to wasteful behavior. When will Wall Street, financial people, corporate executes, the lawyers, and their associates be willing to take responsibilities for what they have done or for what they have failed to do?

This is not about the small (relative to the huge amounts being spent on bail outs) amounts of money. This is about correcting some fundamental problems and changing people's irresponsible attitudes, in order to restore some trust in the system.

Obama: Stop the Witch Hunts and Stabilize the Banks

Correcting the problems of irresponsible behaviors at public companies is necessary to restore some trust people have in Wall Street. The FED has not done enough to put necessary regulations on public companies, particularly those in the finance sector, regulations on executive compensations are just an important part to start with.

There are not "witch hunts" by Washington this time; they are being held responsible by the enraged public. Freak shows by being run by people in the finance industry trying to continue their old ways of paying with other people's money.

A More Modest AIG Bonus Proposal

The problems of excessive executive compensations in public companies have been known for a long time, long before this crisis. This crisis and outrageous situations have finally prompted the majority of the people to say "enough is enough". These executives have their ways for too long without proper regulations. We need regulations, not just for salaries, but also on expenses (they live luxuriously on Company's expense accounts), in order to restore some trust people have in US's public companies.

Additionally, there will be problems to keep these people who have accustomed to their ways that put their personal benefits ahead of everything else. They have ways to keep a company going nowhere while making as much money as possible for themselves years after years. A good CEO will take the chance to clean house instead, keeping those who are more interested to grow with the Company rather than to milk the Company.

Obama had acknowledged during the Tonight Show that he understood the problem with these overpaid executives who have ruled public companies like hostages. The public should hold Obama responsible and help Obama to set regulations and laws to correct the corrupted culture in many public companies.

The AIG Bonus Furor: Let's Focus on What Really Matters

Obama himself acknowledged this AIG problem: " - - - promising to do everything he could to “get these bonuses back.”

He acknowledged also the problem of excessive bonuses and salaries in businesses, particularly in the financial businesses, as highlighted by many people years ago before this crisis. “These financial industries are holding us hostage, - - - ”

Obama said the AIG payments raised moral and ethical problems, but he stressed that the bigger problem was the culture that allowed traders to claim them.

We should hold him responsible and help him to make the CHANGE on this greedy culture.

AIG Bonuses Are Just the Tip of the Iceberg

Un-justifiable executive awards have been known for a long time before this big financial crisis, just like un-justifiable excessive consumer spending. To make change, we need to voice out against these un-justifiable behaviors in the same manner as we voice out against crimes towards children or injustice towards minorities. When we have demonstrations on the street and preachings in sunday schools and church services against these behaviors by the general public, real change may come then.

We have put too little priority on financial responsibilities in comparison to priority on having a luxurious life style.

Feddie Pay: The Reality of the Bailout World

To encourage people to be responsible, we should have tax penalty and special points for future loans on load defaulters and tax incentive to people who keep their mortgages, to those who take on new mortgages, and to those who increase their mortgages, similar to tax on big cars and incentives for small/hybrid cars. Please spread this if you agree so that the politicians will do something.

Subprime Mortgage Index Rising On Bailout News [Housing Tracker]

To encourage people to be responsible, we should have tax penalty and special points for future loans on load defaulters and tax incentive to people who keep their mortgages, to those who take on new mortgages, and to those who increase their mortgages, similar to tax on big cars and incentives for small/hybrid cars. Please spread this if you agree so that the politicians will do something.