Greed's results: Corporate America not only place to start cleanup
Greed has become a watchword in American society -- and not just for those in the higher tax brackets either.
One of the less-often-discussed aspects of the current economic crisis is that many people took on more debt than they could afford and then were unable to meet their obligations later when their over-appraised bubbles burst.
Free, government-backed programs and banks willing to lend -- why shouldn't they "get all they can?"
And they are not the only ones.
Pushing for what you can get has replaced applying for what you need. And that behavior is costing you money -- and slowing down the process for those who legitimately need help.
For every honest recipient of federal aid, there are two more who are trying to scam the system for money they do not qualify for.
Because of the fraudulent claims for disability -- for example -- that benefit is much harder to get for people who truly deserve and need it.
Look at the people filing nuisance lawsuits after an automobile crash. There are some who have been truly wronged, but there are others who are simply out to make a buck. They waste the court's time and send insurance rates skyrocketing.
The ridiculous cost of malpractice insurance is making doctors harder to find and keep. What is increasing the cost? Excessive lawsuits and ridiculous damage awards.
So while there is reason to rise up against those who run companies into the ground and then escape with a golden parachute, there are other places to look for change as this nation enters a new fiscal reality.
Perhaps if all the cheaters were eliminated and those who waste or misappropriate tax dollars punished, there would be a healthier economy and a better country.
We could start with Congress. Seems like there might be quite a bit of cost savings right there.
Published in Editorials on October 1, 2008 11:22 AM