I apologize for taking space on a magic blog for this commentary, but it relates to what, I believe, is the major problem facing our country – corporate corruption. Every issue we have either pales in comparison or is caused by it.
As a former corporate animal, I saw it coming – the bad guys were taking over and accountability and fairness went totally out the window. Don’t for a minute think that lame attempts by our government, such as Sarbanes – Oxley, to legislate honesty has a prayer – it only creates paperwork and the appearance of honesty which the bad guys use as cover while they steal this country blind.
This whole subprime mess is no surprise. These guys stole billions and are leaving us with the rancid residue. They knew it was coming, but taking care of me me me was their only goal. Oh and you think they are being punished – the head of Merrill Lynch, which lost 5 billion or so, was given 340 million dollars to leave.