“Audacity Of Greed” should be the title of President Obama’s next
book. Never could he have imagined how tough getting out of an economic
recession (borderline depression) when he signed up for the presidency.
He knew the job was tough when he took it, he just didn’t know that
greed would continue to trump the public good. Nearly sixty days
in office and America is showing that it still trusts Obama and
what he purported to represent - change and a new way of government.
six days after finding out that companies like AIG have taken $180
billion dollars to stay afloat, only to pay $165 million dollars
to 84 employees (including 11 contractors), you really understand
this greed thing is really bigger than us all. President Obama found
out the hard way. Congress is finding out the hard way. Treasury
Secretary, Tim Geithner, is finding out the hard way. And the people
who need a stimulus boost the most, the American public, are finding
out the hard way. This economic recovery is more than about trusting
that the President knows what he’s doing, or trusting that the stimulus
plan is working. It’s really about trusting whether the greedy are
going to play by any ethical practicum.
are companies and industries lining up for this free green “government
cheese” that’s being handed out. For them, this is better than Christmas.
After what the banks and the investment companies have done with
this money, from bonuses to retreat junkets, the American people
are still waiting to find out how they are going to save their homes-but
Citibank and AIG got paid. You know everybody else is waiting for
their shot to gobble up some gov’ment green cheese. The auto industry
is slobbering at the bit. You know they know how to make some money
disappear. And wait until the health care industry gets their crack
at lining their pockets. Health care has been out of control for
some time. “G” is their middle initial. We should call it the health
g. care system, the “g” standing for greed. There is some real audacity
still out there waiting on their turn to suckle that government
tit. The American people will be as thin as children in the Sudan
before they get any relief. We can trust Obama all we want at this
point, but “change” better know somebody in the greed game. Greed
has taken over the stimulus plan.
the Obama administration try to sell a $3.6 trillion dollars, while
managing the distribution of $789 billion dollars in bailout money
is like watching a magic trick - trying to follow both hands and
keep your eye on the ball before it disappears. You hear the mention
of all this money, you just can’t keep your eye on it - or in Obama’s
case, arms around it. But corporate America can get their arms around
it AND their hands on the money. Wall Street has been playing a
shell games for decades.
all play money to them. That’s the secret securities investor, Bernard
Madoff, knew in pulling off his $50 billion dollar bilk for over
a decade. Keep the money moving and nobody will ever know. You can’t
watch that much money, and keep up with the transactions, and pay
the dividends, and pay back the money you borrowed, and reinvest
again and track of it all. In simpler times, we called it “Robbing
Peter to pay Paul.” Now both Peter and Paul have been robbed when
there’s no money to invest, so there’s no money to pay back.
President’s Obama’s problem, trying to stimulate an economy that
has been stolen blind, over-leveraged, has run out of money, and
left a trillion dollars in debt. So, when the subject of “trust”
is introduced, you can’t trust what you don’t see. Like the junk
bond and dot.com bubbles before it, the real estate and sub-prime
mortgage investment bubbles have left nothing behind to grab but
air and worthless stock. It’s a confidence game that dupes the American
public every decade or so, preying on the public’s desire to attract
wealth quickly. Greed
makes you think a bubble is a boon when it is really nothing more
than a boondoggle, particularly when the amounts of money are so
large, most people would never normally see that much money in their
now President Obama is stuck with trying to instill trust in an
economy that nobody trusts. As many periodicals have stated, the
President may talk his way out of this one. But then, this economic
recovery is really not about this President. It’s about the last
one and the greed that was left behind that now seeks to rape the
stimulus plan. The awarding of bonuses by AIG is just one example
of how greed has highjacked the recovery process. Free gov’ment
cheese??? Err-body gone get some, except the American public and
that will be the real reality check for President Obama.
Dr. Anthony Asadullah Samad, is a national columnist, managing director
of the Urban Issues Forum
and author of Saving The Race: Empowerment Through Wisdom.
His Website is AnthonySamad.com. Click
to contact Dr. Samad.