Financial Crisis

I’m starting to get a little sick and tired of the word “crisis.”

Let’s hear it for the private sector. This “crisis,” as far as I can see, is the end result of years of corporate mismanagement and short term thinking.

American business has, for years, been in a “focus on the current quarter” mentality that sacrifices long term stability for short term benefit. We are now seeing some of that come home to roost in the financial sector.

I don’t have a problem with protecting working folk’s jobs but I’d like to be sure that the only ones to benefit from this won’t be the executive types whose incompetence led to the problem in the first place.

This whole thing smacks of a “persecute the innocent and reward the guilty scenario.” You can be certain if “downsizing” and “difficult cuts” become necessary, it won’t be the CEOs and CFOs getting the pink slips.