Tuesday, October 7, 2008

Playing the blame game

Lots of finger pointing going on these days... that's what happens when things are not going well. The latest is the blame on the CFOs and CEOs of the companies that "caused" the demise of this economy... like Lehman Brothers and AIG. The funny thing about all this to me is why these people are being blamed. Funniest argument I heard so far is "they got paid too much."

Oh my fuckin god.

This is the same garbage I hear about athletes. I'll tell you what. If you hate that the athletes and pretty much any other celebrities make that much money, everyone, stop watching TV. Stop going to games. Stop buying their shoes. Or shirts. No really. Stop. Please. If you hate that the corporate executives make so much, go run your own business. Stop working for the companies where your top execs make that much money. Stop investing in the stock market.

The CEOs and CFOs at the time of robust growth are being paid to take risks so that they can get ahead of the curve. If they didn't, they would have gotten replaced by someone who would. And if someone is willing to and is able to pay them the amount of money they got paid (hundreds of millions of dollars), I see nothing wrong with that. Of course, I don't come close to sniffing that kind of money. But I don't add nearly the value that they add to the company. Of course, if I fuck up, it's unlikely that I will bring the company down.

I am assuming it's plain jealousy but really, why do everyone get so upset when someone makes a lot of money? I remember when A-rod signed his original deal... $250 million over 10 years, I think it was. Everyone was commenting on how ridiculous that was. The way I see it, if someone is willing to pay, I don't understand how the guy getting paid has to get shit for it. Not that there's anything wrong with that. I mean part of his compensation comes from the fact that he could get shat on. But you know what? If someone came up to you today and told you to come work for them and that they will give you 10x the pay of what you currently make to do the exact same thing you are doing, how many of you will say "you know what? That's just too much money. I am not that valuable so please, take some of it back."

Not me. I'll take the fuckin money and run with it. So will most of you. So while everyone is playing the blame game on who got paid too much and who caused the "need" for this stupid ridiculous bail out bill, I just laugh at everyone who is pointing the fingers at everyone else but themselves. Sure, my portfolio is not laughing in the sea of reds but I'm not blaming anyone but myself for that. If you're out of a job, I'm sorry. If you're nearing retirement and your portfolio is decimated, I'm sorry too (though maybe perhaps you should have made a better choice in terms of the mix of investments). But whatever energy you spend trying to blame someone can surely be put to better use. We can't just count on someone else to fix the problem. Haven't you seen what the government has done the last 8 years? Do you really want to count on them now?


Riggstad said...

And How!!!

These (most of them at least) people didn't walk into a cash register.

They took advantage of the freedoms our country has to offer, and in some order, the ridiculous situations that this country offers.

If the common man values someone hitting a homerun to someone who can teach your kid math, at least on the economic level, so be it. Practice hitting home runs.

You go where the money is. That is what a capitalist, and free market economy bears.

A-Rod wasn't lucky. he was good. And used his god given talents to earn what someone else was willing to pay him.

I have a dear friend in his 50's. he came to this country when he was 19 with $30 in his pocket.

He washed dishes, sold shoes, and eventually became a salesman for a money transfer company.

Today he is worth over $1mm with never having made more than $80k a year. He did it the right way, and without ever asking for a break.

This country gave him those opportunities, but HE took advantage of those opportunities. Nothing was given to him.

And that's the issue. Nothing will be given to you. You must go out and take. Those that have, with very few exceptions, have gone out and taken it.

Choose your paths wisely. Blame yourselves for not doing the same. Or blame your parents for not making it explicitly clear that you have more options than just college and a 9-5 job.

Well Done Alan! Fuel's a fag!

DubsPoke said...

Not much else to add so I'll just say this. Excellent post.

Mike Maloney said...

I prefer to blame you for my problems.