from the bigdumbHoosier Archive - 07.10.2002
Changing spots
The Bush administration is now posturing a get-tough policy on corporate excesses, funny accounting, and other greed-mongering. The trouble is, the Republican party, and in particular the southern contingent, has been advocating the glories of greed for at least twenty year now. The president is asking for an expanded budget at the SEC, to get tough. Early this year, he advocated cutting the SEC's budget. Get the government off the back of business, and all that.
The Contract on America, (remember that?) has now been executed. The right-wing sowed some sweet rewards for the wealthy and privileged few; and I do mean few. Less than one percent of the population. For the rest of us, it's a meager and bitter crop.
I'll admit GWBush's speech making skills have improved since he took over the presidency. I'm not even sure that he doesn't mean some of what he's saying. At some level, I think he wants what's best for America, and it doesn't require the smartest president in history to see how big of a threat the widespread corporate corruption has become. It's also got to be pretty obvious that the American public is really being hurt by this stuff, and when that happens we turn off our TVs long enough to get down to the polls to throw the bums out- assuming of course our votes actually get counted. If GW doesn't want to join dear old dad as a one-term pres, he'd better do something about this downward spiral we're riding.
Some Republicans (in an oddly gleeful tone) point out that there's not much moral outrage in the country. I think that's pretty accurate, but I'd say it's because most everybody already knew that big corporations were generally greedy and often corrupt as well. The tepid response of the public is more alienation than support.
Other Republicans, for example treasury secretary Paul O'Neill, continue to tell us how wonderful corporate leadership is. Mr. O'Neill appeared yesterday on the News Hour. His entire appearance consisted of telling us how he'd been a pillar of corporate responsibility during his CEOship at Alcoa. A more self-serving individual has never donned a pair of tassled loafers. Amazingly, right on the heels of the president's get-tough on corporate rascals speech, Mr. O'Neill patronizingly extolled the fundamental integrity of corporate leadership (especially himself), and downplayed the need for governmental regulatory oversight. After hearing it all, I have but one observation. If I were an ambitious young regulator, I'd be taking a long hard look Alcoa's accounting practices.
De-regulation is the most discredited policy of the late 20th century. Like communism, a discredited policy of the early 20th century, it utterly fails to function. Like communism, it makes for pretty sounding speeches. Both have a philosophical ring that can seduce the mind. Neither works because individuals, given the opportunity, are greedy and untrustworthy.
Does a leopard change his spots? Or is it easier to simply paint over them and claim to be a lamb?
