Abandon Ship!

The old saying goes that the definition of insanity is “doing the same thing again and again expecting different results.” There is talk now of more money needed to keep the big banks afloat. It has become apparent that Bank of America “needs” billions of dollars more (roughly $34 billion, with a B). If it didn’t work the first time, why should it now?

As we shake our heads in disbelief from that news, I should also mention the updated regarding the audacious bonuses that insurance giant AIG paid out after the government bailouts. Turns out AIG’s estimates of the bonuses paid were off by a little – by a factor of FOUR!!!

The total number is believe the be around $450 million in bonuses, given (for incredibly poor behavior) as “retention bonuses.” Seems to me their employees are not going to find jobs elsewhere, so a retention bonus is superfluous at best and deceptive at worst. That is nearly half a billion in taxpayer money given to greedy CEOs already worth more than the average American will make in their lifetime.

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Money truly is the root of all evil. Or at the very least greed is the root of most evils…

Money is the reason we go to war. War profiteering is not just a buzz word. Halliburton is making billions in Iraq, all sanctioned by Vice President Cheney. He just happens to be a former CEO of the company, with a pretty fat dividend from his stock holdings in the company. Halliburton is building most of the military installations, engineering the “reconstruction” of Iraq. Oh, and they happen to deal in oil as well as construction. See a connection? Follow the money in the Iraq! (and elsewhere)

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