Wednesday, October 19, 2005

Martha and DeLay

Are Martha and DeLay the guiltiest individuals in the US? That is why they get so much coverage? Or we are just so bored that we need to be entertained with some small crime these people have committed.


Didn't Martha go to prison over some insider trading that helped her save $60k? $60K! for her $60k is not even pocket change. How stupid she was and how stupid the government was to go after her and spend so much money to convict her. It turned out Imclone did great and the stock jumped a great deal later on.
And DeLay for $190K for campaign money? C'mon. You could have made much more money off of those oil tycoons in TX. Message to democrats: if you guys came up with this trick, you could have done much better than this with all the mess this administration is making.

Why doesn't the government go after executives of all these companies that thoughout the years have abused their power to make more money? Yea yea, the government has gone after Enron, MCI, Adelphia etc. but I think they could not not go after them since these companies screwed up soooo bad. But there are so many more companies that their executives didn't get in trouble at all. They caused a lot of suffering for their employees and investors alike, but they are sitting in their comfy homes, enjoying millions of dollars they made. I can't help not to think of the word corporate governance as just a buzzword companies and the government like to use all the time.

The government won't do a whole lot cuz what it does would be considered interference with businesses, in addition many industries don't have strong Union to pressure the companies and we sure know what human nature can do when he/she is given executive power.
How much of the economic downturn we have been experiencing in the past several years has to do with management abuse of their power and misjudgment? I'd think A LOT. Yes, our economy suffered at the macro level, but it also greatly suffered at the micro level, and no one was responsible for it more than the incapable and corrupt managers who just cared about themselves.

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