Washington File

It is time that the government - hopefully spurred on by the outrage of the taxpayers - renames the selfproclaimed CEOs to what they really are: shameless criminals who get a kick out of the irreversible damage they have done to society.

You see people thrown in jail for so much less and I can't emphathize enough on how much less.I mean it`s a far far far far away place.The`s peaple are treating the average american as if they were SOOOOOOO STUPID they would never know and even if they did, they`re too stupid to do anything about it.

Mark - No, it is "Graham" not "John". You had it right the first time. Did I miss something? Who said anything about McCain? Not me surely!

You are implying that McC has been bought and paid for by business and lobbyists and you are right. So has OB and that is exactly my point! They're the SAME!! So how can "The Annointed One" claim that he's any different?!

At least McC and his people aren't trying to pass themselves off as something just short of the "Second Coming" and, to the extent that they are, no one really believes them.

Obama isn't going to change "the system" in the US for one simple reason. HE IS THE SYSTEM! He's as foul and crooked as anyone in DC and if all you sheep would try a little more research and a little less hero worship, you might discover that! He's a politician for .... sake!!

The Great Deception of 08 marches on!
Baaaaaaaaaaaaaaaahhhhhhhhh!!!!!!!!!!!!

No wonder Americans dislike paying taxes so much if this is what Government does with their money!

Greed and selfishness has broken the western, democratic capitalist system and, perhaps not a moment too soon. This system could never have done anything to cure the immense problems the world is facing as no elected official is ever going to propose anything that might work for fear of being thrown out of office.

Between this principle, the poverty, injustice and inequity that the same capitalist system has caused and the seemingly irreversible over-population of the Earth. I believe our descendants will be witness to a very hard end to the ability of the planet to support human life.

A chilling epitaph for a species that, for a time, showed such promise.

Graham of Denwood: AMEN.

Anthony of Ontario: I already voted for the NDP. Sorry. I like Dion but the Sponsorship Party of Canada is so turn-of-the-century. Some of us still haven't forgotten and still don't approve...

As for the excessively greedy execs, this is a great article. It's important that this information is out there because it makes me wonder about all the excesses we DON'T know about. On the down side, who can really say that they're surprised? People don't really care enough to put a stop to it so... shrug.

With all these execs getting away with grand larceny, one has to wonder who Conrad Black ticked off?

In the old days, these pariahs, scum of the Earth, would be dragged out of town drawn and quartered. Better yet, they would be shuffled off to the gallows or hung for all the village to see. Perhaps we are more civilized in this day and age, but how do these leeches get away with these despicable acts? Maybe more to the point, how can they possibly live with themselves? I include the long list of politicians who have reaped the spoils amongst these modern day robber barons.

I'm not surprised!

This bailout is W's last thank you gift to his corrupt neo con friends, one last kick in the groin to the average working stiff from the rich and powerful under the Bush regime.

Yet a large number of these working stiffs who are being stiffed in the US, probably still care more about two men dating as they watch reality TV eating mac and cheese in their trailer home, than they do about getting hosed by their politicians.

A truly sad state of affairs.

I guess the only way for Americans to get any justice is for the stockholders to issue a class action suit against these CEOs. People laugh at the number of law suits in the USA but it is obvious that the government is owned by big businesses so what choice do they have?
How these CEOs can even live with themselves is beyond me. Enjoy your 35MM Joe while senior citizens are living on the streets.

Too bad it did not happen to a US Health insurance : now, with the state money involved, every american could be instantly covered. But this would sound too Disney like.
An old social sciences theory said : in times of economical crisis, the state should regulate. But common sense would say BEFORE the crisis, not during or after.

When speaking to the Coady Institute recently on global poverty, former ambassador to the US, Frank McKenna quoted figures such as $6 billion to achieve basic education for all of humanity, $9 billion for sanitation and water and $13 billion for health and nutrition. Assuming these numbers are accurate then we could quickly wipe out some of the major scourges of the planet for a mere $28 billion.

If anyone were counting, that would be a paltry 32% of what has now been paid to a single company (AIG) and its thieving, immoral executives alone. According to some estimates (i.e. a total of a trillion dollars for the US bailout) the total funds required to eradicate many global problems would then also become a drop in the proverbial bucket.

So when we hear statements saying how global poverty, health and education, not to mention the greening of domestic industry, the lowering of the costs of secondary education and health care and any number of other issues are simply “too expensive” to pursue we now know that it is not actually a matter of prudent financial management but of social-economic priorities that favour the corrupt and the mega-rich and most often both.

The neocon brand of social Darwinism is a self-seeking, ineffective philosophy that needs to be purged from the mindset of America immediately. The world is changing rapidly and above all else North American needs a strong, visionary United States to chart a clear new course into a bright future for all of its citizens and for the larger world.

Allowing these criminals to ring up $23,000 spa bills and be paid in a million dollars per month contracts while many people are losing their homes and hard won retirement savings is not the sort of America that can do this. The wilfully dishonest mismanagement of the Bush/Cheney regime has set the United States back nearly a generation. I truly hope that whomever wins this election has the ability and drive to change the course.

Excellent comment John and Madeline. I am sending this to my American friends.

If Graham from Denwood were correct the U.S. would be in deeper trouble than suspected, but to blame Obama! Graham, you must be smoking something. The hope of the future rests with Obama cleaning house, including a corrupt Republican administration - which by the way includes Senator McCain, and the Governor of Alaska.

Excellent work as usual Henry.

Well said John.

Simple:
Long term (life) prison terms for these criminals that sent the planet into financial hell. Take all their personal assets and profits , you know what I mean. Put their families on welfare. Harsh , you bet, look what they did world wide.
They make Al Capone look like the Easter Bunny.
thanks, Bob

Firstly, to Graham ... or should I say "John"?

If you are inferring the McCain campaign isn't in bed with Fannie and Freddie lobbyists, I suggest you look at who is on that campaign bus and what they've been doing most of their careers.

Obama supported the 'rescue package' because it was encumbent upon the American government to do something, anything. It wasn't a cure-all, but it would be a first step. His hands are tied by the fact that he is not yet president and cannot replace Paulson or any of the other Goldman Sachs cronies.

Republican hands, and yes many Democratic hands, are dirty, whether helping sow the seeds or by feeding at the trough with little care to the future of the country. It was a Me First generation.

I originally thought there must be a few individuals who should be brought to justice, but with everything that I've now heard, the rot is spread so far and deep, there wouldn't be enough cells in Club Fed to hold all those responsible.

So what should be done? Elect Obama. He has the intelligence, the insight, the connections and the ability to work over problems that will allow for the making of fundamental changes in Washington. He is going to run into obstacle after obstacle and he can't work miracles, but he represents the best chance for America to redeem itself.

Yeah, McCain and Obama aren't really inspiring a whole lot of confidence. McCain seems like a bumblng puppet (Maverick my aunt fanny) and Obama seems to be drifting toward the presidency on the strength of not being a Republican. Neither have done much to show true leadership, aside from the usual rhetoric. I hope Obama wins, but only because I think McCain will be another Dubya. That's not a very good reason, but I wonder how many Americans feel the same way?
In any case, Vote Dion!

It's of the utmost importance to remember one thing about all of this. Obama, "The Great Saviour", pushed harder than anyone for this "uber-bailout" and, regardless of whatever half-hearted and transparently insincere protestations he might make for the cameras, he enthusiastically and whole-heartedly approves of everything you just read! Why? Because these are "his kind of people"!! Witness his financial adviser the former head of Fannie or Freddie or whichever one it was. "Change we can believe in?" The lemmings can believe whatever they want. I'm not buying his fraudulent act for one second!!

there's no rocket science here...for the last several years we kept on hearing that the stock-market bubble was going to burst, generally US stocks were over-inflated. The US was spending huge sums of money to keep two armies alive in two wars for well over a half decade. Manufacturing was much cheaper in other countries. Housing prices going through the roof. Energy costs had increased exponentially. Why is anyone shocked? Everyone knew it was going to happen, but just kept on with the hopes that it didn't. Why were there no plans made for this obvious eventuality? This Bush governemnt is the stupidest government ever to govern the dumbest Americans in history.

Unfortunately, just another example of executive excess. It is no different to executives of any other large corporation taking care of themselves first.
The concept of limiting executive salaries to x times the average workers wage may not be viable, but boy it is tempting

We are witnessing the GREATEST Bank robbery in history and we are allowing the thieves out the door with the loot. The "swaps" as pointed out on "60 minutes" were unregulated "insurance policies" supposed to cover the security of the mortgage securities offered to the world through ALL the big banks in the US and nobody can convince me that the likes of Paulson or Bush or Cheney did not know that these "swaps" were outside Federal regulation and NOT WORTH THE PAPER THEY WERE WRITTEN ON because there was no obligation to have the necessary funds to cover any losses. Now the World has to bail out these Thieves AGAIN whilst they languish in a holiday resort and I cannot afford a turkey for Thanksgiving. A POX on all of your houses, especially the White House.

If Henry Champ ever runs for office, he'll have my vote. Always astute, insightful, poignant, and concise analysis. A great read.

It never ceases to amaze me that ordinary hard-working Americans continue to vote for politicians that do not represent their interests, but instead protect the elite. Turns my stomach. Just want to scream WAKE UP!!!!!!! PAY ATTENTION!!!!! Who are you really voting for????

So immensely frustrating.