The top story out there today is how the banking CEOs are making their way to meet with members of Congress this morning, to provide details as to how they spent $160 billion in taxpayers' money in bail out funds. According to the Huffington Post, they are going to receive quite a "grilling." CNN's Campbell Brown even presented Wells Fargo with her evening's Chutzpah Award for their "throwing a lavish party while taking taxpayer money." OK, she kind of said, "chahtzpah," but we get the point (see video below):With all of fire and outrage coming from Congress, I just want to say, "give me a break." Like Dr. Frankenstein, you created your monster, now you have to live with it. (I know that the photo above is not from the original Frankenstein film, but I have always been a fan of Mel Brooks). Congress, and politicians in general, have "lived off the fat of the land" for years now and taken large amounts of money (also known as donations) from some of the same banks/corporations that they are now condemning. Look at who some of the top all-time donors have been to the political arena from 1989-2008 (according to Open Secrets.org): Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America, Freddie Mac, Prudential Financial, and the American Bankers Association. Hey, some of the banking companies even made large donations, most recently, to the recent inagural events.
Don't take this the wrong way. I am not saying that CEO's should be making billions; that is not my point. I am just making the argument, that the same group that helped create these "monsters," benefited from them themselves. So, they should both - face the music and dance (good segway for video below):
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