Tuesday, March 16, 2010

Can't Pour Pee Out of a Boot with Instructions on the Heel

The title, here, became a favorite criticism of leaders of the Union Army after disastrous battles like Fredericksburg, in the Civil War.

The criticism can well be made of our leaders in finance, in the current age. They created the current catastrophe by lending money too easily, for years, in the earlier part of the current decade. Then, after no one moved to get rid of them, they flatly refused to lend money to anyone, as the disaster they created fed on itself, and got worse and worse and worse, as they panic at the mess they created and duck down low to quietly preserve their little financial feifdoms and pay themselves bonuses for cleverly laying people off.

Obama Administration, get rid of them. Deprive them of their bonuses. Kick them out of their homes. Seize their savings.

Arranging to do that is easy.

Corporate charters were originally required to protect us all against power selfishly and unwisely exercized by evil and stupid men and women in charge of corporations. Legislators could suspend corporate charters, and deprive corporations of the power to do business, if they got out of hand.

It is past time to do this. We need Congress, and state legislators, to submit corporations to thorough, black-hearted audits, to pursue, punish and so end wasteful, non-productive, thieving practices by corporate chieftains.

If they don't cooperate with government audits, suspend charters. It's simple.

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