I Don’t Get It

$700 Billion bail out for the financial industry.

Ok, I’m lying! I do get it. The government needs to bail out the American Financial Insdustry to prevent panick, chaos, lost jobs, depression, suicide, and armageddon.

What I don’t get is that how come the money was never there to bail out American Schools or Health Care or Veteran’s Benefits…

Ok, I’m lying again! The government doesn’t have money to bail out schools because schools don’t have powerful friends and schools doesn’t make big money or provide jobs.

This goes back to my original notion that I’m in the wrong business.

Imagine if I messed up the way the guys at Wall Street did. I would be out of a job or I would probably be in jail for screwing with the school’s money. But if I was in the financial industry and mess up, the government will help bail me out.

This is the reason why I always tell me children that before they start trying to change the world, they should make a lot of money first because more people would listen to them if they have a fat wallet. Of course, if they are ever in trouble, more people, government included would bail them out.

I’m keeping my fingers crossed that my children will get it better than I did.

Posted September 25, 2008 by Wat Da Daddy | Digg | Stumble | 24 Wat Da Comments

  1. Dot Said,

    I think you’re totally in the right place. I’ve wondered for a long time why we underpay the most crucial services and reward those who do vrey little for our country.

  1. Tricia Said,

    It simply sucks that people who spend their lives in public service and education make so little money. I don’t think we can equate the “bail out” though with any type of reward for the fat cats. If we don’t do something, everyone will hurt more and if that weren’t the case, I’d say throw the fat cats to the hungry wolves.

    Tricia’s last blog post… THAT Friend

  1. Vered - MomGrind Said,

    I agree to some extent… but I think the reason for this bailout is not to help greedy individuals. It really is to avoid chaos and a repeat of the Great Depression.

    Vered - MomGrind’s last blog post… Saw “Burn After Reading”. Non-Botoxed Actresses. Awesome.

  1. RC Said,

    I’m busy being disgusted with all that happened to get us into the economic mess in the first place. And although I understand what is behind the bailout, I am concerned that we are going to have people driving us back into how this mess began in the first place - which has a lot to do with accountability, and the inability by many people, to be held accountable for their actions.

    Yes, encourage your children to make money. I chose poorly in a career field, as well, and am currently wishing I had taken a different path.

    RC’s last blog post… Making it right

  1. Tara R. Said,

    I tell hubs I married him for his income potential… still waiting on that gravy train. I don’t understand all the reasons for the bailout, but it still makes me furious when these big financial companies fire the high mucky-mucks who got them into these money straits, then give them a multi-million dollar severance package. If I ran my company into the ground, to near bankruptcy, you can bet that I wouldn’t get a $300 million payout.

    Tara R.’s last blog post… This is what happens…

  1. Kori Said,

    Aaargh…this is what I get for follwong links to commenters on my favorite blogs (thanks a lot, Tara!); INSTANT blood pressure rises. You hit on something I have been stewing about all morning and deliberatly not reading or saying or THINKING anything about it; everything you say is true, and then some. Off to go poke my eyes out with something sharp.

  1. Momisodes Said,

    I couldn’t agree more regarding the bailout.

    I feel the same way as a nurse. I’m totally in the wrong business.

    Momisodes’s last blog post… Confessions

  1. Kelly@SHE-POWER Said,

    Hmm and didn’t GW say that the CEOs would still get their fat salaries or bonuses or something with absolutely no punitive measures? THAT is a travesty. Talk about being congratulated on doing a lousy job. I’d be pissed and disillusioned too if I was you.

    But that said, your kids have to be who they are, don’t they? Do you really want someone who feels the calling to educate and help others forced by fear into being a stockbroker? Believe me, it makes for a miserable life. The only thing going against my instincts and taking the wealth path gave me was a drug habit and clinical depression, Chris.

    When I left marketing and consulting to be an ESL teacher with a halved salary I was a million times happier, and that’s when I really started to travel and live my life.

    Kelly

    Kelly@SHE-POWER’s last blog post… An Australian Delinquent in Paris

  1. Mike Goad Said,

    I’ll just be glad when all of this is behind us. We can wail and moan and gnash our teeth all we want to. We still won’t have much of an impact. Our only real impact is in who we elect in a little over a month — and I’ll be glad when that is over, too.

  1. MammaDawg Said,

    Hubz and I were just talking about this the other day… isn’t it FRUSTRATING?!

    MammaDawg’s last blog post… Still Lost (Part III)

  1. Tim Brownson Said,

    Agree entirely.

    Bush’s entire speech was written to INDUCE fear not prevent it. It was a clever piece of artfully vague language and not a fat lot else. A drowning man clutching at straws.

    I wonder how many of his friends are on welfare and I wonder how many got rich(er) under his administration.

    Tim Brownson’s last blog post… I’m Such A Loser

  1. storm Said,

    being canadian, i like many globally have been watching from the sidelines.

    i agree with you chris, the value is on the dollar not on the people and that appears unjust.

    the challenge is that this is what the usa was built on though, wasn’t it? the american dream is to make money…the land of opportunity. also culturally in the western world we are all marketed to 24/7. we are trained to always be dissatisfied and want more than we have. you have a new honda, you now want a mercedes or bmw. you have a condo, you want a larger house. you have….you want more….

    i think this contributed to the problem. people wanted more than they had or could reasonably afford and permitted themselves to become overextended and oversold.

    now the profits that were the results of this corporate behaviour remain private but the solution appears to be socialized. this creates the imbalance that everyone is feeling.

    i do think though it will in the end help the teachers, students and many others in often thankless, less glamourous positions by protecting your economy. without the bailout, many more would be out of work and the economic fallout would be greater. more would be affected.

    not the ideal solution. not necessarily fair. but in the end, not all in life is fair.

    for the record, knowing you only from your blog, i think you rock! if i could do it all over again, i would want to be a student in your school or come back as one of your kids. no matter what you earn, you deserve way more than that for the job you do nurturing not just your kids, but those in your school and for educating all you readers.

    take care of you,

    storm

    storm’s last blog post… family

  1. Alex Fayle | Someday Syndrome Said,

    I’m with Kelly@SHE-POWER all the way - the CEO salaries that are large enough to fund the budget of a small town for a whole year? Outrageous. The average CEO earns 400 times (yes, that’s 400 times) what the average worker earns.

    For years people in the centre and on the left have been saying that the rich-poor gap is not good for the economy and yet the myopic financial industry kept filling its own pockets and now the US ecnomy is in shambles. It seems no one learned anything from the dot.com crash nor the Eron and friends scandals

  1. Lance Said,

    There is power in money…and this proves it. That said, I think we still do what our heart desires.

    Lance’s last blog post… Spread Your Wings and Fly

  1. Stacey / CreateaBalance Said,

    I think this is another lesson on life balance (embracing passions, taking action, and setting limits). The financial industry forgot to set limits (oops). Now we are all paying the price.

    Stacey / CreateaBalance’s last blog post… Practicing Being Selfish = Self Nurturing

  1. Mark Salinas Said,

    Hopefully this mess gets cleaned up and soon!

    Mark Salinas’s last blog post… Daily Life Challenge

  1. Cath Lawson Said,

    I agree Chris - it’s totally disgusting. No wonder America is in such a sorry financial state. And I was reading about the salary and bonuses some of these fat cats get - millions a year for some of them, even though they’ve screwed up. It’s sickening.

    Cath Lawson’s last blog post… The Worst Websites Can Make Money

  1. Dot Said,

    I agree with Mike Goad — ” We can wail and moan and gnash our teeth all we want to. We still won’t have much of an impact.” The government is not for us. It’s for the rich. I think there should be a law against giving those executives big “parting gifts” while the company is going under.

    “Our only real impact is in who we elect…” There’s where I disagree with Mike Goad. We elected Al Gore eight years ago. But Bush managed to steal the election.

  1. Marelisa Said,

    I think the pay of CEO’s should be tied to performance. If they’re doing a great job, fine, give them huge salaries. But if they’re failing miserably they shouldn’t be getting huge golden parachute packages.

    Marelisa’s last blog post… Three Awesome Productivity Tips

  1. ilinap Said,

    Dude, we’re all in the wrong business. BTW, LOVE the photo!

  1. purpledsky Said,

    “…they should make a lot of money first because more people would listen to them if they have a fat wallet.”

    Indeed. I hope they’d listen. I know I wished I did.

    purpledsky’s last blog post… WQ 18: Try it, it’s yummy!

  1. Irene | Light Beckons Said,

    I’d agree with Marelisa on this one … by the way Chris, all that really matters is the job you have at home, with your family. As long as you’re doing great there, the rest is secondary. :)
    Irene | Light Beckons’s last blog post… Beverly Takes A Break

  1. NaTuRaL Said,

    i wish someone bailed me out every time i made a financial mistake. i don’t think it teaches responsibility, especially when the big bosses get to walk away with millions of dollars in bonus money.

    i get it alright.

    NaTuRaL’s last blog post… Do Excuses Negate Responsibility?

  1. Tammy Warren Said,

    All I know is this is one big mess. I have spent the day trying to figure out where to put my hard earned money so it will not disappear. I am sure the government has their usual good intentions. I am not so sure about this.

    I have two children. I worry about what they are going to deal with. I know this has been a wake up call for everyone.

    Tammy Warren’s last blog post… Sing me to sleep and I will listen

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