On Fri, Mar 20, 2009 at 11:41 AM, Morpheal <> wrote: The lesson is that there is need for government regulations to define and clearly enforce corporate morality and ethics, such that corporations cannot give out bonuses and other added perks when financial positions dip below a certain level of fiscal health. Similarly consistent, common to all, laws are needed to eliminate various forms of unethical graft, gifts and corruption that disadvantage ethical players against unethical ones.
========== Keith Responds: I strongly disagree. There is a gamut of regulations that currently structure corporations and business in general. As a matter of fact, there is strong argument, that the Clinton Administration's repeal of the Glass-Steagall Act was not, and is not the culprit of what has transpired. The cause of the current financial boondoggle has nothing to do with the government's lack of oversight or regulation over business; the financial quagmire has to do with government sticking it's nose into a free market economy where it didn't belong. In essence, the government forced banks to give out loans to folks who knowingly could not have paid for those loans, plain and simple. It gets more complicated after that initial government intrusion, but the point being, it has absolutely nothing to do with lack of government stewardship, regulation or oversight. ============== *Morpheal then continues:* It should never be necessary to claw back bonuses on an exception basis, by special emergency legislation from Congress. The rules, in law, should be in place and enforced on a continual basis for all corporations to abide with at all times. ====================== *Keith Responds:* Yes, because to "claw back bonuses" as the House of Representatives attempted to do yesterday, is unconstitutional. There actions yesterday is called a "Bill of Attainder"; or a "Bill of Pains & Penalties". See Article 1, Section 9, Paragraph 3. Idiots like Chuck Schumer, Barney Frank Maxine Waters, and a host of other socialist-elitists need to be schooled on our system of government, preferably after they have been impeached. ============ Morpheal then notes: It is time to tame the business jungle, and it is time to chain the predators. =========== Keith Responds: After the quagmire that government has created, starting with the Community Reinvestment Act, and then continuously attempting to interfere with free markets, by "bailouts" and "stimulus"; I think it clear, at least to any thinking American, that it is time that government get the Hell out of the way! Stop interfering, and watch our economy take off! *"IF"* the government really wanted to correct the downturn in the economy, with a stroke of a pen, it could be done. Repeal the Internal Revenue Code, the progressive income tax, and all capital gains taxes. By adopting the tenets of the Fair Tax Legislation, (sponsored by Congressman John Linder, (R. Ga) you would see not only the United States economy take off to levels never seen before, but a robust world economy take shape. ================= Morpheal then notes: Furthermore, the sociology and psychology of corporations and companies is such that they function more like clubs, or mafias, with mutual protection and mutual benefit often taking precedence over morality and ethics in business. Keith Responds: With all due respect, it is obvious that you have no business experience. I assume that you are either a public servant, or on some kind of government subsistence. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
