I have been a small business man for the past 20 years. I have found myself across the desk form a banker on numerous occasions; some asking for money to grow my business and some to ask for money to keep my business afloat during hard times. Each time the banker required me to put up my wife and my accumulated assets as a condition of securing the loan.
Today we are seeing executives coming before us, the taxpayer, asking for money to carry them through rough times, in many cases of their own making. I feel we, as taxpayers, are in a no win position; we have to keep some of them alive and running to keep our economy alive and running.
As the banker required me and my wife, the senior management teams of Ford, General Motors, Chrysler, Citi Group, Bank of America, AIG, American Express, Regions, and the many others should be required to put their estates on the line if they want to borrow our money. If they truly believe that their plan is achievable they will put up; on the other hand if they don’t believe they will be able to repay us they will leave the room.
It is time that we, the taxpayers, start gaining some control over our money, if we don’t our children and grandchildren will work their lives to pay for our mistakes and lack of fiscal responsibility.
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