Posts filed under ‘politics’
Lots of conservative commentators have been clamoring to stop liberals from re-enacting the Fairness Doctrine. Mostly it seemed that they were just using the Doctrine as a weapon against any policy they didn’t like. However, now it seems that certain democratic lawmakers are actually proposing to bring the doctrine back.
First, let me say I think it’s political suicide to try. It just gives republicans way too much ammo against the democrats and their policies. And most studies have found that it wasn’t a very effective policy to begin with, so whats the point?
But beyond all this, I think all of these people are missing a fundamental truth. Why would we need to worry about whats on the radio when we have the internet? Seriously, what’s to be gained bringing back a policy designed to promote alternative viewpoints on traditional media when it’s clear that the traditional media is in decline? Young people growing up today are not listening to Rush on the radio, they’re listening to podcasts on their iPhones. Sure, the situation is probably somewhat damaging in the present, but it’ll only get better as time goes on. And given that Republicans can now shout “Fairness Doctrine” at any piece of legislation they don’t like, it seems like a lot to give up for no gain.
I didn’t want my first post on this blog to be a rant, but this article in today’s nytimes forced my hand.
The article is about President Obama’s proposed cap on executive compensation for banks that accept bailout money. If you don’t want to read it, the gist of the article is this: whilst to “ordinary” Americans 500k/year may sound like a lot of money, to a high flying Wall St. executive, it’s just not enough. Well, cry me a river, but I have one word to those executives who find making 500k/year unacceptable: Quit. Really, just quit. I really don’t care how much you have to pay for private school, and personal trainers, and association fees. If you think you’re being treated unfairly, go ahead and find a new job. You weren’t exactly a spectacular performer on this job, or you wouldn’t be asking for bailout money. Oh, and BTW, good luck finding a new job given your most recent employment history.
I really don’t give a damn how bad you think you’ve got it. Welcome to the real world, where performance actually determines how well you get compensated. And if you do choose to quit, tell Obama’s people to give me a call. While I’ve got no relevant experience in finance or managing a large investment firm, I have managed to live the past 10 years of my life without going bankrupt, which is apparently more than you can say.
And for all those republicans out there who say that the government shouldn’t be dictating terms to these banks (I’m looking at you Mitt) I have this to say: when a bank is at the point where it will fail without taxpayer dollars and requests the government give it money, then the American taxpayers just became majority shareholders in that bank. We get to dictate how that business is managed from now on. No one is forcing banks to take our money. They can just as easily say “Thanks, but no thanks” and we’ll be fine with that. Remember, the bailout isn’t about helping your friends on Wall St., or propping up some free-market businesses, it’s about preventing a financial collapse from dragging the rest of us down with it.
So go ahead, moan about your hard lives. You have your options, and if you don’t like it, tough.