american-style capitalism

It is often said that the American economic system is the best in the world. Then again, it is often said US healthcare is the best in the world too. And American cars, American TV, etc. Waving the flag is big business.

Every once in a while though, there are some hard data that tell a different story. Take Wall Street bankers and their $18 billion bonuses for 2008. Aren't bonuses supposed to reward good performance? Aren't bonuses there to "align" the executives with the interests of the business and its shareholders? Isn't this country supposed to be a meritocracy, where good work is rewarded? Wasn't America founded on hard work?

The sad truth is more than obvious. Those who are close to the honey pot get extra servings. Whether they work hard or not, whether they do what they are supposed to do or not, whether they perform as required or not. The pot is theirs and even when others have to go empty handed, the guardians of the honey pot reward themselves richly.

We can only draw one conclusion: American-style capitalism is about nothing but greed. Those who display it, get away with murder.

Kudos to Obama for speaking out and calling it shameful. Unfortunately it is worse than shameful. It is criminal. Criminal negligence that deserves more than harsh words. No amount of cosmetic surgery is going to fix this problem. What we need is some deep cuts to remove the rot. Where is the public outrage?