You know, the more I think about the bailouts, the more put out I become with both the government, the businesses that are receiving them and the American people.  There is no doubt that the issues are complex. The web of interactions is mind boggling and, like a house of cards, one wrong move could bring the whole house down. But it seems to me we still haven’t gotten our minds right on a few things.

Banks, despite coming to the government, hat in hand, to ask for a handout, are defiantly giving already too wealthy executives even more bonuses, raises and such.  Even at a time when they are laying off their own workers. Now, it doesn’t take a rocket scientist to figure out that the executives were at the helm when the ship started going down. How can you justify giving bonuses to people who nearly destroyed your company? The answer often given is that it is necessary to give the bonuses to prevent them from leaving. Ya think?

Let’s look at this. Where are they going to go? Banks are laying, not hiring. More importantly, might we be better off if the did leave? Maybe we’d get someone in their place that can actually run a business without running it into the ground. Sorry. You get no points from me on this one, given that I’m having to do without so you can get your damn tax-supported bonus.

Banks are doing everything they can to screw their customers over and get whatever money they have left. there was an interesting article in the Atlanta Journal today about a man whose American Express credit limit was reduced because of where he shopped. Excuse me? Because some one else is a bad risk, that makes me one, too? The new laws that were approved Thursday would help, except they are implemented too late. There is no reason in the world why those regs could not be implemented on January 1, except that the credit card lobby would be unhappy. And we know they elected all those idiots to Congress.

At the same time they are arbitrarily raising interest rates and dropping credit limits, all without proper notice, all in the name of limiting their risks, they are still sending out invitations to get still more credit to people, even those whose credit rating doesn’t warrant it. I’ll write a separate piece on the use of credit, but for now, let it be known that if you’re using credit for anything other than your house and short term unexpected bills, you’re a damn fool.

Then we’ve got the auto mess.

The UAW keeps arguing that the auto bailout is being done on the back of the workers. Ummm… UAW? Maybe you ought to rethink that one. I work for a living, too. I pay taxes — the taxes your company will be getting to keep your ass working. I have to give up stuff in order to pay my bills. I have to give up stuff to pay my taxes, which will undoubtedly go up after all this mess is over. You have a job because of the bail out. I suggest you shut up, take the money and keep working. The alternative is to throw out the bailout, let your company go out of business and then see how the worker fares. If it’s a choice between taking a pay cut and keeping my job, or keeping my pay for a job that disappeared, I’ll go for door number one.