Bailing Out Corporations



Bailing Out Corporations


Our leaders would like us to believe that there is no one to take their place. But that is a bold face lie. There are plenty companies out there just waiting to get their chance to grow. With one major company going under it will open the door foe several little companies to grow. That is what Free Enterprise is all about.


Lack of Government Regulation


The last great depression was caused by no governmental regulation, so the companies became greedy, which helped create the great depression. That is like the Lehman Brothers Corporation and other corporations knowing that if they gave loans to people whom were at risk to make payments on their property. This would aid in the downfall of the stock market and housing production. These people knew their history and they knew what would happen in 2008. They knew they could make money off of the people and resale the titles to overseas investors. Once the stock market failed and everything started going to hell, they knew with the help of the lobbyist that they could get bailed out by the government whose money is actually the people of our great nation. During this time, they were making great profits off of the transactions that they did.

All major companies like drug manufacturers oil, insurance, bankers and investors. It is true that during the deregulating Bush Era, these major companies have the right to police themselves!! We must not forget that their Board Members get bonuses every time they cut a corner or save the company. So with this in mind, major companies that regulate themselves, if it comes to saving money, do not care about the employees or their final product. Because they know that it is cheaper to get sued once or twice than it is to stop production and testing on a World Wide Product!!

Example 1: our infrastrucutre for highways, bridges and dams are deteriorating to such a degree that if we had one major earthquake or major storm, these structures would fail.

Example 2: food processing plants. In Washington State, one inspector has to travel so far to inspect a meat processing plant and it takes so much time for him just to travel out there. He only has only two to three hours to inspect a large plant.

Example 3: The State of Alabama has no inspectors for its earth dam. We also need the schools within the cities, counties, states whom are being federally funded, they need to be regulated to insure proper spending of the federal money.

Example 4: In Las Vegas, NV, in the winter of 2008, some schools did not have any toilet paper or other essential supplies. If the students of one school should have to do this and not the others, there is something wrong with the funding of the school district.

Officials with the Soil and Water Conservation Service and the U.S. Department of Agriculture announced today a $45 million plan to repair more than two dozen earthen flood-control dams, including six dams in Northeast Georgia. Three of the dams slated to be repaired are in Madison County, and three are in Jackson County. Repairs on the Georgia dams will cost more than $6 million. The projects should generate about 168 new jobs in Northeast Georgia, and construction on the projects should start this year, according to Agriculture Secretary Tom Vilsack. The federal money used to rebuild and repair the dams is part of the American Recovery and Reinvestment Act, the federal stimulus package.

Repairs on the dams in Madison and Jackson counties have been in the works for two years but did not have funding until now, said Jimmy Bramblett, the USDA’s assistant state conservationist for water resources in Georgia.

The dams were built in the 1930s to protect farmland and crops from flooding. Little maintenance has been performed on the dams over the years, Bramblett said. While the dams have worn with age, residential and commercial development has replaced the farmland that the dams once protected — increasing the risk for loss of life if the dams fail, Bramblett said.

We have been deregulating all inspections and procedures with corporations ever since the Reagan administration. We are in this national crisis, partially because of it. Companies are like people, if they do not have laws to follow and someone above them to ensure the laws, they run wild and get greedy. For example, in Alabama, with the one insurance company within the entire state or Lehman Brothers and Exxon getting greedy with the profits. Our society now in these days is ran by greed.

Everybody needs to slow down and be more thoughtful of the people the effect with their greed. Reinstating regulating would put a stop to the State of Alabama that has one insurance company for the whole state. That is a monopoly and the people of that state do not have a choice to buy cheaper insurance because of no competition in the insurance field.

Article References

Top 10 Profitable Companies
http://money.cnn.com/magazines/fortune/fortune500/2009/snapshots/387.html

Company Financial Information
http://money.cnn.com
(1) Type in the company's stock symbol
(2) Click on Financial Results (left side of screen)

Allstate Financials
http://www.allstate.com/about/annual-report.aspx

Boeing Corporation Financials
http://www.boeing.com/companyoffices/financial/quarterly.htm

Chevron/Texaco Financial Highlights
http://www.chevron.com/annualreport/2008/financials/financialhighlights/

Exxon/Mobil earnings event
http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-calendar
4th quarter earnings 2008 to 3rd quarter earnings 2009. (XOM/Investors/Earnings)

Shell Financials
http://www.shell.com/home/content/investor/financial_information/annual_reports/2009/2009_annual_reports.html
Louisiana Dams - http://www.damsafety.org

Mississippi Dams - http://damsafety.org

Melancon, Merritt. (2009)
Stimulus funding to rehab six Northeast Georgia dams
Published: April 6, 2009
Athens Banner - Herald
http://www.onlineathens.com/stories/040609/bre_426426706.shtml