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Imma little scared.

Anonymous — Wed, 06/17/2009 - 14:18

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Sent into my local paper...doubt they will publish.

 

While taking a break after graduating from and college before I returned to school, I personally stopped writing a fantasy novel because I became very concerned about the state of our nation. Like all Americans, I am concerned about job security and what the future may hold for my family and friends. However, the former is a constant concern—something we all worry about whether the market is up or down. But now, I am concerned about the tone of the recent presidential firsts the have been occurring with an alarming rate.

 

While I applaud Obama for trying to become a modern president, appearing on David Lettermen and attempting to have his voice heard on a daily basis so Americans feel that they are involved in the process of their government. But, why do I feel so unsatisfied? Why do I feel like I have become a vicarious participant within the United States of America?—I equate this vicarious feeling to watching reality television. A sour taste enters my mouth as I realize I feel this way about my government.  

 

Seeing our president appearing on television so often, makes me question the manner of man that we have in office. Do we have a celebrity president legislating? Yes, that is right—I said legislating. No, I am not confused. But I have gotten ahead of myself, yes, we must take one step back.

 

Since when has a president been able to fire a CEO?  The CEO of General Motors was fired by none other than Barrack Obama. While I understand that the government lent to this company a large sum of money in an effort to prevent the lost of many jobs that many Americans across the nation have come to depend upon. I am not just referring to the union workers; any business large or small begins a tangled web of cash flow to a myriad of other businesses. I am not business savvy enough to debate whether this was the best use of stimulus money or not—I am no economics major. My bank account suffers from less scrupulous passions I have found in life. But, what does concern me is the executed power President Obama wields, seemingly from a throne. And, he has made speeches, focusing the anger of the American people at CEOs. May I remind you that they are private citizens! While I know that these men and women are no angles and live in a completely different reality than the rest of us Americans, I implore you to think upon history realize the horrors that men have committed when they from an office of power focused the anger of the public toward a certain race, group, class, orientation or even gender of people. When you gain this perspective, the hairs on the back of your neck will crawl and a small lump may form in the back of your throat.   

 

While I realize that our markets and our businesses need regulation to prevent them acting as sovereign nations within the border of our nation, the president being able to control who is—or who is not a CEO of a company sets an alarming precedent. The charter of corporation gives power to those who hold a vested interest in the success of the company. If the CEO of General Motors were failing at his job, those who hold a vested interest in the success of the company will fire him. These are the rules of our land founded in decades of contract law. The stability of these rules has lead to the wealth our nation has been able to accumulate. If you examine why other countries struggle to amass wealth, I believe you find one of the main problems is stability. People invest in stability.

 

However, President Obama has now given himself the power, if he so chooses, to remove a CEO.  Why should I invest?—that does not seem very stable. In fact, I think that this is one of the main thoughts of investors on Wall Street. The man telling you that he is saving jobs—whatever that means—may actually be the reason why corporations are fearful to invest in the future. Perhaps this is the reason that the banks do not want to lead money. When ever businesses become fearful of the economic conditions, they begin to shrink the amount they invest in the future, allowing them to amass a pile of cash to react to swift changing conditions. This money sitting in coffers, waiting for dooms day does nothing to create or save jobs.

 

I remember hearing a story as a child:

There were three sons and the father gave money equally among them. Their father left for three years. The first son squandered the money, investing frivolously. The second son took the money and hid it away, waiting for the day for his father to return because he feared loosing what his father had given him. The third son wisely invested the money, and in three years, he had doubled the money his father had given to him. When the father returned home, he spoke to all three of his sons. The Father was very proud of his third son, who had invested his money wisely. Then the first son told his father how he had poorly invested his money. The Father was disappointed but was still proud of his son. When the second son returned the exact amount to his father that he had given him, his face became grief stricken. The Father told his second son that he wish he had failed as the first son. The second son had done - Nothing. Our businesses are trapped in a state of milking their cash cows and hiding the money in glass jars, because the rules keep changing.  

 

I can only wonder how China is beginning to feel as we increasingly become unstable. Remember they are, currently footing our bill. I cannot believe they are not beginning to question our actions as a nation. In the end, actions are what matter. Not appealing camera smiles. But really, why should I invest?—the rules may change tomorrow. Living for the here and now, even in people’s personal lives has never lead to promising prospects. Maybe- just- maybe there is something in those musty old books that our founders wrote that lead to the wealth of this nation. Why are we allowing these rapid changes? Have the rules of this land not served our nation well? The regulations did not fail us. The people regulating did.

 

Speaking of regulating, why do we have Tim Geithner regulating our treasury when he failed to pay his taxes? Remember Obama appointed him, and part of his position encompasses charge over the IRS. Does he not believe the money is well spent? When you pay taxes, you are investing in the future of your nation. If the average citizen fails to pay their taxes or evades taxes, they are thrown in jail—isn’t that how the FBI nailed the mob bosses. So where is the end to the corruption; where is that “CHANGE” that we were promised?

 

This new executive power is possibly more frightening than the Patriot Act. I want you to realize that Obama legislated by changing contract law. Bankruptcy is covered in contract law, and there are regulations set for how a corporation’s assets should be partitioned during failure. The allocation of these assets according to contract law increases stability and prevents CORRUPTION. Your liberties are protected by contracts. Your house, the car you drive, the phone you talk on, the software you download on your computer are all regulated by contracts. These agreements protect you. Our founding fathers recognized the value of contracts because they  previous had had their liberties being violated. The constitution and the bill of rights—don’t kid yourselves—those are contracts too.            

  • Death Knight
garreth's picture

I'm not blindly pro-stimulus,

garreth — Wed, 06/17/2009 - 17:46

I'm not blindly pro-stimulus, nor am I hopping on the silly "omgzlolz obama's socialist" bandwagon either. However, I suggest you research just HOW our American car companies got themselves into this mess in the first place. 

For a fiscal baseline:

And for a policy/industry specific explanation please see Frontline: Heat and then Who Killed the Electric Car? 

So we have questionable business tactics for the last 50 years in the auto-industry, all enabled by a government drowning in special interest groups and lobbiest and only NOW we're mad that the supposed mingling of business and government?  You're a decade too late on this, Sukie ;)

Where was your outrage at Haliburton and Cheney?  Where was this post during the disasterous financial market deregulation during the Bush administration?

Also, Business 101: Any majority stakeholder in a publicly traded company with voting rights on the board has the right to fire the CEO, whether they be another guy in a suit or the president of the USA.

cromi's picture

 On the pro stimulus, I would

cromi — Wed, 06/17/2009 - 22:23

 On the pro stimulus, I would like to think we will be getting something out of this stimulus. One Government has perfect oppritunity to switch the sector into a new "Green" industry. Which they are starting too. I do not think we should be selling off companys, but at least for a moment switching a bit to a socialist sphere of influence on the line because we need that oversight to get our companies back on track and the free market is not going to get the job done because of the emotional creatures humans are. And every day you turn on the TV, you see something about a recession. The problem is, the moment that happens, the GOP will be screaming and hollering and trying to claw there way up into the spotlight (as a minority this happens, but it now is just not even helping  the party, until they can scream fear for communism.) If the government taking over these companys gets the jobs back into america. And money back into the hands. So that we are a country creating goods, not buying with fake money (very unhealthy). 

 People blame the housing boom on clinton. The housing boom like this has been happening since the 1950's the difference is that the regulation has been dropping dramatically since Reagan. This has been a downward spiral for years. Think of it like a house of cards. Or the game where you need stack and then unstack the rectangular wood blocks. As you start to take away the foundation of the cards. And if something were to happen say one bad card being pulled out, Or someone bumping the table. Everything is going to start to go. Except for the food market, And chocolate/candy Those cards stay up.

*People that come in to save companies during low points, get them back on the right track. Or people setting up mergers with bankrupt companies will tell you. The first person to be fired is the CEO. Their take on it is that for the company to get in such dire straights required poor leadership. Therefore that person must go.

Karli's picture

Jenga.

Karli — Thu, 06/18/2009 - 11:31

Jenga.

cromi's picture

 I would like to point out.

cromi — Wed, 06/17/2009 - 17:19

 I would like to point out. You say that the companys CEO should be fired by the people investing in the company because the people of the company have the greatest investment in them. The american people, and even those outside of our country have a large investment in the stake of the car companys. They make money, employ people, and sell things to people, then invest that money into more of the above. If they go under the entire company fails and then what happens? Mass chaos, we lose more money. And also you can say the american people invested money into these companys so the above does not happen. So shouldn't the president and his cabinet, like the president and board of a company for America: be able to fire someone who has failed at his job, like what would happen to any ceo in a company. We put faith in a private sector when it has failed America. Whether shipping jobs overseas, to not creating cars that can sustain less gas.

You also put something about Obama being a celebrity. That is the one thing Our nation needs right now. FDR did basically the same thing, every week he would get onto the radio sitting by his fire(something very good for his image I might add) And then give a speech. Do you also Know no publication was supposed to take a picture of FDR being helped out of his wheelchair? It hurts his public image and the moral of everyone goes down. There is also some debate among the historical community. That Hoover created the first part of the new deal and gave it to FDR, because he knew he did not have the support of the American people. JFK won his election by becoming a celebrity. He would never have been president without his televised debates. 

The contract law was also basically to help people with credit cards. Why would people spend without them? And it gave a new look on the banks, though they did not do a very good job for their image by uniting against it.

To not do anything to help the businesses spend and just let them go under. Would create chaos. America I can best describe as a rolling ball of emotions. Joe Six Pack? The country always finds someone to point the finger at single out. It was done just a few years ago against the arabs. And the patriot act discriminated against arabs and muslims. It was done against jews, catholics. Germans, Japanese, Italians, Irish. It is the way. 

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