WASHINGTON D.C.—The nation’s leaders are setting up a show trial against Goldman Sachs in Congress as a way to show the American people they plan on doing the people’s business. They use a poll that shows two thirds of the American people want real finance reform. However, the emphasis is on real reforms. This is a case that the U.S. Justice Department and Goldman Sachs should battle out in a court of law, not in the halls of Congress where many of the politicians who are chastising the management of one of the world’s largest corporations and those managers and executives asserting privilege just for the sake of drama in our national news and on the cable news stations.
How many of the very politicians who will exert their outrage will actually admit that the very executives on the hot seat gave to their political campaigns? Congress has enough to do as it is, such as stop the runaway spending, cut the budget and work on getting this nation back on the road to fiscal conservancy, something we’ve been off-course on for at least 40 years now and seem to have lost any common sense when it comes to getting the federal deficit under control. Though Americans are not interested in international affairs, we are on our own way to a similar perfect storm that the nation of Greece, which also had decades of unrivaled spending, which has caused a financial Armageddon which the European Union now has to bail out for fear of Greece’s deep economic woes becoming not only Europe’s economic tsunami but a wider world financial crisis than we saw across the globe just over a year ago.
Reforms have to be made to the financial system that has become out of touch with the current national and worldwide economic situations we are facing. Wall Street firms were betting against the very stocks they were selling to their clients; it was an outrageous practice. However, common sense changes need to be made to the system, and it is never right for Congress to use political retribution to fix a problem.
For those who believe the financial world doesn’t need any changes, just less government interference, I remind you that is what many of us were stating at the time the nation and the world was at the point of economic collapse, but at the time many people then argued to have the U.S. Government bail out banks and other entities including the federally funded Fannie Mae and Freddie Mac. The financial industry cannot ask for taxpayers help, then demand taxpayers and the government butt out of their affairs. Once the federal government intervened, did anyone think it would ever end? Has Congress and other governmental agencies ever decided to stay out of affairs that they offer tax payer’s funds to prop up?
Perhaps that’s one of the reasons why our founding fathers brilliantly stated a separation of church and state in our Constitution. For government interfering in religion would certainly cause it a greater harm than can be imagined in this country. Not to mention religion being a part of the government starts out with silly decisions by politicians who are guided by superstition and later we could end up with similar religious wars of Europe of the previous centuries and/or a nation set up by crooked dictators who use religion to clamp down on human rights as most Islamic countries in the Middle East are doing today.
It’s too bad that Congress is more interested in grand standing for the cameras and Goldman Sachs more interested in their public relations image around the world, because there is a great need for financial reforms that will not only protect shareholders in the future, but also taxpayers who cannot be expected to bail out conglomerates that are run into the ground by gambling CEO’s and other executives who should shoulder the heavy burden of running their own companies into the ground in the future.
Please remember our soldiers who are fighting for our rights and the freedom of much of the world while in Afghanistan and Iraq.