My 19-year-old brother joined the Marines so he could fight for his country even though his ethnicity was a bone of contention for his fellow countrymen. He was killed saving his platoon. He is a hero. Oh, Uncle Sam gave his medal to my mother and his name is inscribed on the Vietnam Wall. Yes, he was and is a hero.
But that is not the crux of my point herewith. The point is that the country was at war back then, whether or not the action was sanctioned by its citizens and others. My brother was the kind of guy who believed that service is a necessary sacrifice in times of war.
Here’s the thing: Today, America is also at war — an economic war. I agree with my brother’s belief that, when your country is at war, sacrifices must be made.
So about the AIG execs and their obscene bonuses — who could fault them for wanting money promised to them in good faith? I submit that many Americans envy them at the same time that they ridicule and rebuke them.
Regardless of public sentiment, for the good of the country, the AIG execs should give the money back and ask for it when times get better.
The precedent for doing the right thing has already been set — early on by President Obama, who froze pay for senior White House staff in one of his first administrative actions.
Then Kraft Foods Inc. stepped up in early February with an announcement that top manager salaries — starting with its chief executive — would be frozen at the 2009 rate. They would still be eligible for bonuses, however, but hopefully only if the company continues to post increased earnings. Meanwhile, the company assured the remaining employees they would receive raises since the company’s earnings rose sharply the year before.
To borrow a phrase from historical literature, these are trying times. Even the innocent are having to dig deeper and make greater sacrifices. So, all you high-fliers need to just suck it up. It is not about what you deserve, but what the marketplace can bear.
By: joel Goodman
Posted: March 19, 2009 2:47 PM
By: cspence
Posted: March 19, 2009 4:24 PM
Your basic premise is that all human beings should be willing do the right thing and serve when called upon. As much as I like that premise, the reality of our financial institutions is much different. Our financial institutions have built a self serving greedy culture that would never understand what your brother understood. Until that culture is corrected and they truly start working in their customers best interest, your nice idea will not work.
By: Wayne Daggett
Posted: March 19, 2009 5:36 PM
We need to have a national debate on the costs and merits of government taking over 1/5th of the US economy. Any time you have something handed out for FREE, you will have to ration care. Sorry, but there is no free lunch.
By: confused
Posted: March 20, 2009 6:54 AM
By: Jaye
Posted: March 20, 2009 5:52 PM
By: King Butchie
Posted: January 24, 2010 8:28 PM