Give Me a Break

So the stock market tumbled today on news of the updated bank bailout plan, released by the new Secretary of the Treasury, Geitner. Why did it tumble? It isn't big enough, analysts complain. It isn't broad enough, and there are few details, they say.

Here's one fact: the plan is over $1 TRillion. Yet, it isn't big enough.

Maybe I am old fashioned, but if I were in the banking industry, I would be humbled by any assistance given to my company that likely played a role in the financial collapse to begin with.

I believe in helping those who try to help themselves first before asking for help. To admonish the new administration's plan because there's not enough money in it is, in effect, being a choosey beggar.

If there is nothing else to destroy public confidence, there is still the banks' greed. It has not gone away. The lack of responsibility in this whole mess is jarring. I am still waiting to see where any of these bankers actually take responsibility and say, "Yeah, we fucked up. But we're going to fix it. Tell you what, I'll even take a pay cut."

What makes me even sicker is the fact that so many people have already lost their jobs, but the very people who made the poor decisions to begin with, still remain. I believe that if a company fails, then get rid of the CEO. After all, he is paid the big bucks because of the amount of responsibility he has. I believe he should earn it. Don't just expect to be paid millions--deserve it. Earn it. And when you area part of losing billions, find a way to fix it and don't just ask for a handout.

And also, when you're offered help, don't turn your nose away. When that happens, we all suffer.