Financial Excesses By Any Name

Tue Oct 14, 2008 | | Posted in Finances



Firstly, there was the news that after getting some money, billions of dollars from the public, AIG executives spent close to half-a-million dollars in a resort area in five days. Some of their expenditures were: $15,000 on leisure dining – whatever that means, $10,000 on massages, playing tennis and other such things.

Now, compared to the billions that they received, this is peanuts. However, these days, substance and style go hand in hand. Some things, in the news, are mentioned and treated symbolically like the money that AIG spent in that resort area. May be it does not mean anything. May be that’s the order of the day. American people ain’t sayin’ or doin’ nothin’ much and what can they do? Well! may be give them more money like they always have.

Secondly, and if this is a headache, that’s the Republican party’s headache. John McCains and co.’s headache.

In the Oct 22,2008, edition of New York Times online reported $150,000 wardrobe for Palin may alter tailor-made image by Patrick Healy and Michael Luo. The article states that Republicans expressed consternation publicly and privately that the shopping sprees on her behalf would compromise Ms. Palin’s standing as Senator McCain’s chief emissary to working-class voters.

This is complete contradictory doubleness of thought, speech, and action ; especially : the belying of Sen. McCain and Gov. Palin’s true intentions by deceptive words and actions. I am neither Democrat nor Republican. Thank God I am Independent, not a country boy but nevertheless independent.

I owe almost that much in mortgage and property taxes. Imagine, that kind of money could have prevented one, two, three or may be more home foreclosures which have occurred largely among blue-collar hard working tax players and not among the folks who own millions of dollars worth of homes.

If people spend, in their private lives, that kind of money on their wardrobes in one day, and if the money belongs to them personally, then it is their business. However, in this case, that money came from the campaign funds. And you know what – the campaign funds are nothing but donations made by the public.

Now, when I hear the candidates saying that they are all for working-class families and they would do all they could to provide jobs, health care, better their lives in retirement, you know what I do? I give them money to somehow get elected and do something for me and millions of folks like me.

That is the return we get. I ain’t sayin’ or doin’ nothin’ much because they have made it the order of the day.

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Information contained herein is general in nature, and is provided for informational and educational purposes only. Past performance is no guarantee of future results. Talk to your financial adviser.

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