Bail Out or Jail Out? Which is Fair?

There is one thing I don't understand about the way the world is now. OK, there's a LOT I don't understand but one thing comes swiftly to the top of the list. Why are we giving our hard earned tax dollars to companies who have shown little or no regard for the general public in the past? More important, why are we not demanding certain changes or accountability from those receiving this money?

We (the government, using OUR tax dollars) are busy throwing out billions of dollars to help keep a lot of companies from going out of business. I understand that there are jobs at stake with some of these companies and at others the savings and retirement of millions of others could also be at stake. I understand that but there is one fundamental aspect of all of this that makes no sense to me.

Why are we not insisting on accountability and changes as a condition of providing these funds?

The people today are being played for fools by corporate executives who carry on doing business the exact same ways that brought them to the brink of financial disaster in the first place! The corporate arrogance is startling yet we seem to accept it. When we request certain concessions or changes or give backs, we are told that we really can't demand that because there are contracts in place that are legal and binding.

Can someone please show me where it states that the government has a legal responsibility to provide these funds? Can someone please explain to me why we can't say; "Listen, I know you have contracts and I understand that. However, we are not legally obligated to foot the bill for your incompetence so, if you want this money, you will have to voluntarily do the following." Is that so over the top? Is that really such a bad way of doing business?

If you owned a business and your CEO brought it to its knees with a series of bad deals or lavish expenses, would you go ahead and give him more money to go ahead and do the same thing? Of course you wouldn't. If the school bully waited in the alley for you after school and beat the crap out of you, would you walk down that same alley gain the next day? Likely you would not.

But here we are doing the exact same thing common sense dictates we should not. Granted we have started doing some things better and the current auto bail out is one example of providing money with requirements upfront. We simply cannot allow business as usual to continue in the future. We must hold these people and their companies accountable for the things they have done. We can, and should, provide funds where there is a legitimate need and to safeguard the jobs and savings of innocent people but we should not foot the bill for lavish bonuses and excessive expenses.

As my brother in law so aptly put, if a CEO has a contract indicating he should be paid so many millions in a bonus, you cannot take that away. It's a contract. Fine. While I don't agree with it, that's the law. But why can't we say, OK Mr. CEO, you want us to provide bail-out funds for your company. Not a problem. However, if you want those funds, you must give back your huge bonus last year and then we will provide you with the funds. If you do not feel like giving up your bonus, we shall inform the public and your shareholders of your refusal."

Do you think that might make one or two of these overpaid, arrogant and smug individuals think twice next time? Some of them probably would not but at least we will have exposed a few of them for what they really are. Greedy and poor performing people who are undeserving of what they received.

I do believe that we have an obligation to protect one another from the greedy people who prey upon us and take advantage of a system ripe with loopholes. But I do believe that we have to come down hard on those who lie and cheat and cause the problems that are facing us today. I see people who lost billions of dollars from hard working people get off with a slap on the wrist and walk away multi-millionaires. But if you or I were caught doing the same thing, we would be locked up and the key thrown away.

I say let's do the right thing but at the same time take steps to make sure we do not let this behavior continue for even one more day. Let's close the loopholes and make sure those who are caught are made examples of to discourage the next would-be abuser and make them think twice.

Then our tax dollars can be used to better our country and our lives instead of financing greed and disgusting excess.