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Just like the government's tardy recognition of the recession, nine months after the fact, Washington has become embarrassed over and over again by the scandalous behavior of Wall Street investment banks and corporate executives. This includes: overindulgent life styles at company, shareholder, and taxpayer expense; outrageous bonuses by money losing companies; corporate jets; lavish business retreats; gaming of stock options and more.

Our nation has been strip-mined by corporate executives that think short term, focus on themselves instead of their company, and people they represent, and have been negligent to consider the repercussions of their actions or inaction.

Strip-mining allows for the removal of minerals in the fastest and easiest way possible grabbing at surface material as you work your way down and cause havoc to the ecosystem. Environmental problems are of great concern now more than ever and the process is heavily regulated -- more so than the economic strip mining of the last few years.

Since Washington is so affected by lobbyists whose interests are not aligned with the overall public well-being (note: I did not say welfare), as the cynic would say "the best government money can buy", the public is not getting its monies worth.

Continue reading Wall Street has been strip mining America

Wall Street has been strip mining America originally appeared on BloggingStocks on Fri, 30 Jan 2009 15:25:00 EST. Please see our terms for use of feeds.

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