Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Thursday, December 3, 2009

Obama: The Audacity Of Hopelessness...

With Obama's massive troop escalation (can the Nobel Peace Prize be rescinded?) he's made Afghanistan his war, reminiscent of President Johnson's Vietnam War escalation. At the current death rate of 500 soldiers per year the events depicted in the film will soon become a shattering reality for many more Americans. And next year Obama will spend some $65 billion on Afghanistan, more than for the Iraq war.

Afghanistan, the "Graveyard of Empires," is this administration's most egregious failing and is now fated to define Obama's legacy. Beyond Afghanistian, maintaining permanent military bases and large garrisons in Iraq, allowing Israel to evade a just two state peace with the Palestinians, clandestine Blackwater (now Xe services) assassins roaming around Pakistan, the killing of hundreds of Pakistani civilians by CIA Predator drone attacks authorized by Obama early in his tenure, and a continuing U.S. military build-up in Colombia under the guise of a phony "war on drugs," also are on the list.

A one-year litany of domestic disappointments could be captured by a bumper sticker reading "the audacity of hopelessness." After handing over almost $3 trillion to bankers, we have a jobless "economic recovery," an official 10.2 percent unemployment rate which is actually 16.5 percent, the number of home foreclosures continues to rise and a country in which one in four children only manage to keep hunger pangs at bay because of food stamps and soup kitchens.

In the face of this situation Obama's first stimulus package was pitifully small, and while it did "save" some jobs, it wasn't nearly enough for serious job creation. Obama's professed support for helping workers to unionize evaporated shortly after his inauguration. And under Obama's watch, as noted by New York Times columnist Bob Herbert, "Even as tens of millions of working Americans are struggling to hang onto their jobs and keep a roof over their families' heads, the wise guys of Wall Street are licking their fat-cat chops over yet another round of obscene multibillion dollar bonuses -- this time thanks to the bailout billions that were sent their way by Uncle Sam..."(10/20/09).

The nine largest banks are distributing $32.6 billion in bonuses. But given the jobs crisis and depression-like situation confronting tens of millions of our fellow citizens, Obama found a record-breaking $664 billion for the Pentagon for fiscal 2010. Finally, Obama and many Democrats quickly abandoned government single payer national health insurance -- the only plausible solution to our healthcare crisis -- caving to the despicable, predatory, for-profit private health insurance lobbyists. (Note: These lobbyists gave $1.8 million to 18 key members of Congress).

For those who worked and voted for Obama, especially younger folks, all of this must be a bitter pill to swallow, a giant step backward toward disillusionment and cynicism. I prefer to interpret it as a necessary and valuable lesson in electoral illusions for those truly serious about making this a better country:

Obama, a brilliant and charismatic politician, was always a conservative corporate Democrat, a self-described believer in "the free market," and an enthusiastic accommodator to the rich and powerful. In the words of one pundit, Obama is Clinton without the sleaze. He would never have been given a favorable vetting by the financial elites who chose our presidential candidates if he represented the slightest threat to their domestic interests and global empire. By the way, the latter includes 800 military bases in 130 countries.

According to astute political analyst Paul Street, the Obama campaign set new corporate fundraising efforts, including nearly $1 million from Goldman Sachs. In short, aside from some crafty rhetoric Obama was never a social justice populist and viewing him that way always contained a massive dose of wishful thinking. In that narrow sense, Obama has been entirely consistent and didn't really betray anyone.

More and more Americans are wise to the fact that because Democrats and Republicans are virtually indistinguishable on the issues that matter most, the "change we can believe it" will not be forthcoming from these two business parties.

Short term we need a mobilized and vocal movement from below that dramatically increases the political costs for those resisting needed reforms. Longer term, we need systemic change, change in the class structure of capitalism. Until and unless workers who produce all the goods and services in our society participate in making the major economic policy decisions -- to run the economy democratically -- we will only be tinkering with a system that primarily serves those who own it. We need a new broad-based political party that actually responds to the genuine grievances and aspirations of ordinary working people and youth.

-Gary Olson ( “Obama’s First Nine Months: Change We Can Believe In?,” CommonDreams.Org, 12.3.2009. Image: "Obama Fraud," Image Products, 2009 ).

Wednesday, July 29, 2009

Sociopathic Kings, Queens & Lords: Wealth Is Proof Of Goodness...

The Wall Street Journal reported last week that:

"Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available."

One of the questions often asked when the subject of CEO pay comes up is:

"What could a person such as William McGuire or Lee Raymond (the former CEOs of UnitedHealth and ExxonMobil, respectively) possibly do to justify a $1.7 billion paycheck or a $400 million retirement bonus?"


Why is executive pay so high?

I've examined this with both my psychotherapist hat on and my amateur economist hat on, and only one rational answer presents itself: CEOs in America make as much money as they do because there really is a shortage of people with their skill set. And it's such a serious shortage that some companies have to pay as much as $1 million a day to have somebody successfully do the job. But what part of being a CEO could be so difficult-so impossible for mere mortals-that it would mean that there are only a few hundred individuals in the United States capable of performing it?

In my humble opinion, it's the sociopath part:

CEOs of community-based businesses are typically responsive to their communities and decent people. But the CEOs of most of the world's largest corporations daily make decisions that destroy the lives of many other human beings. Only about 1 to 3 percent of us are sociopaths-people who don't have normal human feelings and can easily go to sleep at night after having done horrific things. And of that 1 percent of sociopaths, there's probably only a fraction of a percent with a college education. And of that tiny fraction, there's an even tinier fraction that understands how business works, particularly within any specific industry. Thus there is such a shortage of people who can run modern monopolistic, destructive corporations that stockholders have to pay millions to get them to work. And being sociopaths, they gladly take the money without any thought to its social consequences.

Today's modern transnational corporate CEOs-who live in a private-jet-and-limousine world entirely apart from the rest of us-are remnants from the times of kings, queens, and lords. They reflect the dysfunctional cultural (and Calvinist/Darwinian) belief that wealth is proof of goodness, and that that goodness then justifies taking more of the wealth.

Democracy in the workplace is known as a union. The most democratic workplaces are the least exploitative, because labor has a power to balance capital and management. And looking around the world, we can clearly see that those cultures that most embrace the largest number of their people in an egalitarian and democratic way (in and out of the workplace) are the ones that have the highest quality of life. Those that are the most despotic, from the workplace to the government, are those with the poorest quality of life.

Over time, balance and democratic oversight will always produce the best results. An "unregulated" marketplace is like an "unregulated" football game -CHAOS. And chaos is a state perfectly exploited by sociopaths, be they serial killers, warlords, or CEOs.

By changing the rules of the game of business so that sociopathic business behavior is no longer rewarded (and, indeed, is punished - as Teddy Roosevelt famously did as the "Trustbuster" and FDR did when he threatened to send "War Profiteers" to jail), we can create a less dysfunctional and more egalitarian society. And that's an important first step back from the thresholds to environmental and economic disaster we're now facing.

-Thom Hartmann ( Exerpt: "Profiling CEOs & Their Sociopathic Paychecks, 7.27.2009. Image: Louis XIII Crowned by Victory (Siege of La Rochelle, 1628), Oil on canvas, 228 x 175 cm, Musée du Louvre, Paris, 1635).

Wednesday, October 15, 2008

The United Bank of America: A Call To Civil Service...

“Democracy is the road to Socialism.” -Karl Marx

"In what now looks like the final phase of the credit crunch, one thing has become clear: Many of the world's major banks will end up in state control.

Britain is furthest down the track. This week, Royal Bank of Scotland Group Plc and HBOS Plc ceded majority control to the government in exchange for financial support. Already, the state is making demands. It will have the right to seats on the board, to fix dividends, and be allowed to set executive pay.

Other countries are likely to follow. Germany has put its own rescue package in place, and Chancellor Angela Merkel has said the way bankers pay themselves will have to change. Even U.S. Treasury Secretary Henry Paulson has promised the government will take a direct stake in banks such as Citigroup Inc. and Goldman Sachs Group Inc.

In effect, bankers are about to become civil servants. That will require a huge culture change. In a second, banking will have to switch from being a raucous, entrepreneurial and aggressive industry into a dull, safe and conservative one.

For that to happen, their brains will have to be completely rewired. Everything a generation of bankers grew up expecting will be forgotten. A new set of rules is being written.

The initial moves will be cosmetic. Out will go the round- the-clock, work-hard-play-hard culture. In its place will come the nine-to-five day with a break for tea and biscuits. Meetings will be sacrosanct, and the keeping of minutes precise. The gender-awareness officer will no longer be a figure of fun, but rather the most powerful person in the workplace. As for taking clients to lap-dancing clubs, don't even think about it.

It's a new world, get used to it.

-Matthew Lynn (Excerpt: "Bankers Find Their New Calling as Civil Servants," Bloomberg News, 10.15.08. Image: - Deathagony1917,DeviantArt.com,2008).