A Matter Of Justice: Why The Bailed Out Banks Should Be Made To Pay

February 3, 2009

US (ChattahBox) – With President Obama just releasing his intentions of increasing government oversight into the so-far disastrous bailout plan, it has many wondering if the measures that will be taken to make sure money is being used wisely, will also include a little well-deserved punishment for the executives and CEO’s who used taxpayer money to line their pockets.

The solution seems like it should be simple, when dealing with the insane misuse of bailout funds: payback. I don’t mean the Lethal Weapon, guns-blazing, explosions on the horizon kind of payback, or even jail time. What I am looking to see is the natural progression of thought that should inevitably lead to those CEO’s being forced to pay back every ill-used cent. After that, they should be kicked out on their tailored-suit butts, and replaced with people who actually care about the future of their companies.

President Obama has already called for these actions to be taken, after AIG was caught using the billions in bailout funds for executive bonuses and retreats. So why hasn’t something already been done? Why are these guys still heading these failing companies, while more and more tax payers who funded their disgusting extravagance lose their jobs?

I know I am far from the only one who hopes that President Obama’s scheduled detail release on how to deal with these thieves next week involves a well deserved financial smack down that it deserves, and not a leisurely slap on the wrist. And that includes a few shakes for the men in his newly appointed administration that have shown their own personal cash-ins.


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