Punish Wall Street, Not Our Veterans

Early last century, our government came to the conclusion that financial institutions needed a watchdog. Thus they created the SEC. It seemed a reasonable thing to do. The SEC watched the financial industry and ensured that they played by certain rules. However, the financial industry came up with ways to skirt the SEC. We have now seen that they are not to be trusted as greed is a terrifying motivator. We need something greater than the SEC. We need to reform that entire sector of our economy.

So, after being given a few chances to reform and perhaps... do better for others, the financial institutions have proved they cannot and should not be trusted. Merrill-Lynch paid benefits early, in December, in order to avoid oversight from Bank of America. In so doing, they took some funds from American taxpayers to reward themselves for running a company into the ground. Now, Bank of America is asking for more money to right the wrongs of Merrill. And where is this money coming from? Taxpayers. Hard-working Americans that understand what it is to do real, actual work. And the government's handing cash out in the billions.

But, with the economic pinch, other areas are having to suck it up and tighten their belt. Here in Iowa, one of the departments that will struggle- Veteran Affairs. Our government is willing to give these corporate vagabonds billions despite the fact that their bank accounts are well-padded and they are doing nothing to help the average American. On the other hand, the people who have valiantly served their country in its times of need have to make do with less. That's fine though, corporate fat-cats deserve more money than those that have lost limbs for the safety and freedom of Americans. Thain should go ahead and continue buying $70,000 rugs for his office, while that would serve more than two years worth of what many of our soldiers make in salary.

So, to me, it seems that the financial sector should be nationalized. There should be solid salary caps on all executive positions. These people should not be rewarded for what amounts to little more than outright theft. Where did the money banks "made" go? Into accounts of CEOs and other such foolish people that don't understand that if they take all the money from the people who generate real income for the country, the economy collapses. So, they're doing fine, but all that money is not coming back into our economy. Take the SEC one more step and nationalize banks. It's not communism. It's not socialism. It's realism. This is the only way the people of America can be heard by the financial sector. Force them to obey the laws by taking away their power. Put people into these positions that have to answer to the public.

I may not be the most knowledgeable person when it comes to the economy and the financial sector, but I understand quite a bit about it. If you have a better idea than nationalizing banks, go ahead and provide a link to your outline. Remember, I studied History, so what I say is based on the past looking toward the future. Also, this was written hastily at work after I discovered that our veterans were going to have to take cuts because of what these @%*^ing bankers have done.

Peace.

P.S. I am currently reading The Lord of the Rings Trilogy, so I apologize if I tend to see corporate ass-bags as some kind of Dark Lord.