Originally Posted by Jack Swain
Originally Posted by Mike Dunbar
Well, to borrow an admonishment from Jody, here's a link missed or ignored:
http://www.daveramsey.com/etc/fed_bailout/3_steps_to_change_the_nations_future_10928.htmlc?ictid=sml

There's a good, inexpensive solution here. It makes sense to me, it's been vetted by serious economists. There may still be time, it includes an easy link to send to your congressional representatives.


That is a fantastic plan and exactly what I want to see happen. There is only one thing that I believe is coming up short on the plan, and that is criminalizing the abusive practice of CEOs running companies without regard for performance. If CEOs make decisions that result in heavy loses, there should be some liability. If investors are wiped out due to those decisions, and the CEO walks off with a huge check, then criminal penalties should be asserted. Until this happens, history will continue to repeat itself.


Jack,

I used to be indecisive...now I'm not sure.

I'm of two minds about indicting CEO's for failure. I can see that becoming a real political tool. One party or the other would go after big donors, for example. I think rather than adding more complexity to the laws, we need to simplify. Make a good simple, solid definition of fraud, then let the courts decide if the case meets the definition. For all I know, the current definition may be sufficient to cover the current crisis.

I'm all for punishing the CEO's. I'd like to see the people take it into their own hands. Stop buying stock in companies that provide golden showers...I mean paracutes...for CEO's that fail. That would take care of some of that mess. I'm invested in a "socially responsible" mutual fund that does that, as well as funding green corporations and corporations that respect human rights. It's not been the best performer in my portfolio, but I'll be interested to see how it does next quarter. I have a hunch that these things will become more important to people, and won't have to be "mandated" by a bunch of pork-filled, special interest loaded, bureaucratically adminstered laws.

You've got to know your limitations. I don't know what your limitations are. I found out what mine were when I was twelve. I found out that there weren't too many limitations, if I did it my way. -Johnny Cash

It's only music.
-niteshift

Mike Dunbar Music