More Insanity!

For the last two months, Obama and the Democrats have literally attacked the "greediness" of Wall Street companies and our Banks. For those businesses who took Federal bailout money, the Democrats and Obama have been very heavy handed. These companies have been condemned for their normal business activities. They have had their executive salaries capped. Additionally, bonuses are about to be taxed at an onerous, retroactive tax rate of 90 percent.

This has forced some companies into publicly stating their regret in taking the money. The imposition of salary caps and onerous taxes will probably cause a "brain drain" from our entire banking system; for fear that future Congressional and Administration actions will affect their pay. I'm quite sure that some companies, who are on the brink of failure, are avoiding asking for bailout money because they have seen what happens when others have taken that money. Couple that with the proposed high taxes of the new Obama budget and our government is seen as nothing but an adversary to corporate America and the wealthy. Additionally, the Obama/Congressional eagerness to punish corporations for their lavish habits is also hurting other businesses like the hotel industry which depends on conventions and corporate meetings and junkets (See Full Story)

Now enter little Timmy Geithner and his plan to save toxic assets with his new "Public-Private Investment Program" (See Full Story). He proposes that the private sector, Wall Street and the Banks, partner up with the Federal government to buy up all these distressed assets that are seizing up our credit markets.

Give me a break! You can't go to war with Wall Street, the Banking system, and the rich and expect those entities to, all of sudden, be your buddy. They've seen what has happened when companies have partnered with "this" Federal government. Even if those companies do manage to get some assurances from Geithner and Obama that they will not see any imposed restrictions on them, there's no guarantee that the Democrats in Congress won't retroactively come after them later on. If you're a company in America, working with this government is like inviting a hungry, wild, unleashed lion to your dinner party.

All Americans are in this recession together. We need everybody, the rich, the corporations and business community, and the citizenry to work towards the resolution of the economic disaster. Yet, division is the game that is being played. This is just insane!