Consequence for Wall Street – Obama Lays Down First Hammer and My Idea
I came into work this morning and quickly glanced over the news headlines and guess what I read:
President Barack Obama on Wednesday imposed $500,000 caps on senior executive pay for the most distressed financial institutions receiving federal bailout money, saying Americans are upset with “executives being rewarded for failure.”
I have no problem with free market. I have no problem with people earning a f**k load of money that they deserve. But the way Wall Street had behaved, they deserve this consequence because in my mind, any decent person who is capable of looking around themselves, would not behave so arrogantly and full with senses of entitlement in this mess currently where so many are suffering, whether because of them, partially because of them, or in spite of them. When I read how some claimed they deserve such pay, I want to punch them in the face and smash them on to the cement. We are all in this together.
When I shared this with my friend, I said this:
Wall Street had been like a bunch of kids. They were given freedom (free market with little regulations) and they showed no self-control. Now the parent had to ground them. Ahahahaha…
All in all, even with this 500k cap, it is still a lot of money. Don’t you think? I have been thinking about what appropriate consequence that these Wall Street people should be bestowed, assuming we know who and how much each has contributed to our situation. Jail time will not do as that will lead to further anger and hatred, and it is relatively useless and costs us tax money. Fining them will not do since they have millions and billions of dollars anyways.
Ah, so they have A LOT of money… then I came upon this wonderful idea. We will make them do volunteer work! Full time volunteer work for executives, bankers, money managers, and what not. Or half-time, as some may be required to keep the infrastructure intact. Details details.
The main idea is… Because they already have so much money, they don’t have to worry about starving and not able to afford a living. They have robbed the society of much values, and through volunteer work, at the same time of contributing to others and the society, they may finally be brought back down to earth and perhaps learn to appreciate all the non-money things life has to offer. One stone two birds, good eh?