Dymphna Boholt has spoken out against the economic ineptitude of the president of the United Sates, George Bush. His policies led to a severe lack of oversight and regulation in the US markets that has led to an unheard of recession; A recession that has effects on us as well.
George Bush had a policy of letting businesses operate however they wanted to operate. His take on the governments’ role was to stay out of the way and let the markets take care of themselves. He failed to realize that markets are run by human beings, and human beings are sometimes corrupt, looking for an opportunity to make a few dishonest bucks.
The US’s financial problems are headline news around the world. However, it is important to remember that there were tremors of economic pain growing underneath the surface for years.
Need I Dymphna remind you of a little known company called ENRON? Does anyone remember what Enron did? They “cooked” their balance sheets and hoarded large sums of money for their corporate officers. Well, their evil practices caught up to them, and thousands of Americans lost their retirement savings.
Economic greed has swept across America in the past seven years of the Bush administration. Bush’s economic policies have left the air ripe for greedy corporations to sweep in and take advantage of the American people, while making record profits. Does Exxon Mobile ring a bell? Exxon Mobile hasn’t been cooking its sheets or unlawfully laundering money like some other American companies. No, Exxon just took advantage of a much needed commodity of the American people. That commodity was oil.
Keep in mind that George Bush is from Texas, the capital of oil production in America. It is no wonder his friends in Exxon Mobile were protected from high taxes and other regulations that could have helped control the price of gasoline in America. Exxon raked in more profits last quarter than any other company in the history of the United States had ever brought in. And they did it on the backs of record high gas prices, causing the American consumer to make a choice between food, or means of transportation to get to work.
The American financial crisis that has swept the globe is not a new one. It has been brewing for years. The list of greedy corporations and corrupt corporations are to numerous to name here. Let’s hope that the next administration can do something about this wave of corporate greed that has overtaken the once proud United States. The entire world, it seems, is at its mercy. Well thats it from Dymphna Boholt for this week.
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