BANK OF AMERICA AND AIG AMONG COMPANIES INVOLVED
Apparently a mere three days after receiving $25 billion in borrowed taxpayer money to keep their saggy, greedy, inept asses afloat, Bank of America Corp. together with representatives of AIG, also the recipient of taxpayer welfare, hosted a conference call with conservative activists and business officials to organize opposition to the EMPLOYEE FREE TRADE ACT.
For those of you too caught up in the daily battle to keep food on the table and a roof over your heads, the EMPLOYEE FREE TRADE ACT is this game changing legislation, which if passed, will allow workers to form a union, either by holding a traditional election, or by having a majority of employees sign written forms.
The mere thought of the American working man and woman actually regaining some measure of control over their working lives has those in the executive suites - fat and happy after 8 years of George Bush and Dick Cheney’s his anti-worker agenda - quivering. Apparently, they prefer the model that has their workers subservient, poorly paid, and expendable.
To get an idea of the depth of Corporate America’s trauma over the EMPLOYEE FREE TRADE ACT, one needs only to listen to the words of Bernie Marcus, a founder of Home Depot, who in the October 17th conference call likened the EMPLOYEE FREE TRADE ACT to “the demise of a civilization. This is how a civilization disappears,” Marcus wined. “It is incredible to me that anybody could have the chutzpah to try and pass this bill in this election year, especially when we have an economy that is a disaster, a total absolute disaster.”
Marcus then yielded the floor to the other corporate big wigs and conservative activists, lobbyists and miscellaneous sycophants also on the call, who then spent the rest of the available time challenging each other to write six figure checks to Republican politicians in the hope of creating a “firewall” to block the legislation’s passage. Also discussed was a plan to financially blackmail Democratic politicians running for reelection in 2010 in the hope of forcing them to kill the bills chances of passage.
While corporations and special interest groups coercing weak-willed politicians into voting their way is nothing new in this country, using taxpayer money to do so is. That’s right, money which was intended to keep business from collapsing in the wake of the sub-prime debacle, was being used to figure out ways to further screw the American worker.
Unfortunately, there is no easy fix for this type of behavior, nor is there a way to stamp out the arrogance and sense of self-entitlement from which it originates. Both of these are too firmly entrenched in our political system’s psyche, and have been for far too long. The sad reality is that fixes of this sort require politicians of greater moral character, transparency and determination to do what is right then we currently have representing us in our national and state capitols. Politicians with the stones to not only reign in our largest companies, but, most importantly, have the courage to allow these companies to fail when their reprehensible behavior results in their becoming insolvent, as was recently the case. This means the end of the ridiculous notion that any one organization or business entity, no matter how powerful, be considered too large to fail.
In the future, this means no bailouts. When financial crisis occurs, spend that money that we recently gave to those companies deemed too large to fail bailing out the individuals affected and not the corporations who’s unmitigated greed got them in trouble in the first place.
In the case of the banks, this would mean saying goodbye to today’s bloated, monopolistic, federally-chartered institutions such as Bank of America, Chase Bank, Citicorp, etc., and hello to the time in our history when banks were smaller, more personal operations, which were restricted to the business of taking deposits and making loans in the state where their charter was issued.
Then when all of these too large to fail companies are reorganized and returned to their pre-Reagan era business models, Congress needs to investigate the causes of the recent economic collapse and prosecute those responsible, if only to insure that it never happens again. We owe this to our children and grandchildren, as they are the ones who will be paying for his disaster for many years to come.
Since I am not holding my breath for any of this to happen, we need a faster, more immediate way of making Bernie Marcus of Home Depot and his friends from Bank of America and AIG suffer for their part in trying to kill the EMPLOYEE FREE TRADE ACT.
The best way I can think of doing this is with our remaining dollars. Essentially, if you have money in Bank of America, move it to a smaller local bank or credit union. They will be thankful for you business and you will find, will treat you far better than Bank of America ever did anyway. Similarly, if you do business with AIG, consider moving your account to one of the many other companies out there that do what they do. As for Marcus’, Home Depot, Lowe’s, I hear, has pretty much the same products at the same prices as Home Depot, so take your business there.
Only by denying these modern day robber barons your dollars will they get the message that the working men and women in America do not taking kindly to be dumped on by the same SOB’s that they were recently asked to rescue from financial ruin.