Political Drek
About
Issues: There
are many significant issues with which the United States must deal. These include foreign policy, foreign aid,
national defense, relations with Latin America, the size and disposition of our
defense forces, the global economy, civil rights, funding Social Security,
Medicare and Medicaid, eliminating unemployment, job creation and business
creation and growth, structuring and funding the safety net, regulating
business, banking and finance, the balance of trade, our national deficit and
debt, fiscal and monetary reform, educating our children, fighting the drug-use
epidemic, the world-wide technology race, global warming and climate change,
the foreclosure crisis, etc. etc. How
many of these issues have you heard discussed in any depth by the aspirants for
the Republican Presidential nomination?
Synthetic
Issues: While, campaigning
on the issues of same-sex marriage, abortions, illegal immigrants, reduced
spending and no new taxation, government bureaucracy, and referring to the
Affordable Health Care Act as “ObamaCare” may result in a candidate picking up
a few votes, making such points does not address the real issues the nation
faces. When the Republicans wake up to
this and turn from such synthetic issues to real issues, they will have a
chance to attract the middle of the road independent voters they need to win. Until then, they are dead in the water. Sad thing is that they don't realize it.
And
About Mitt: Many
Republicans have a problem with Mitt Romney While he is clearly
the most qualified of the Republicans seeking the nomination, he
projects a sanctimonious attitude when he speaks, one I read as that of false
piety. As a businessman, he had to make
hard decisions which often hurt investors and employees, but ended up with his
company making money. There is nothing wrong with this. A businessman cannot be an angel all of the
time, and Romney certainly wasn’t, but he constantly projects the image of a smiling
straight shooting cowboy in a white hat who has never done anything wrong,
ever, and everyone knows this is just not so, even for a devout Mormon. Could he be less than candid in what he is saying,
people wonder.
And his smile of optimism seems welded
onto his face. I wonder what his face
looks like when he, as all politicians and influential businessmen must do
occasionally, makes a condolence call.
Does he still sport that grin showing his perfect teeth as he comforts
the bereaved family?
And while presenting himself
as a businessman is fine, why does Romney rarely mention his service as
Governor of Massachusetts, another part of his background which served to
provide him with valuable experience for seeking the office of the nation’s
Chief Executive? Or is he so intent on
denigrating the role of government that he is ashamed that he once served as
part of it?
But the Republicans have no
one better. The other potential nominees
are all oriented too far to the right to stand a chance against the Democratic
nominee, the incumbent President. I
predict “Smiling Mitt” will win big in South Carolina next Saturday and still
bigger in Florida ten days later. But he
will win the Republican nomination this summer only after a struggle on the
convention floor with the ideologues to his right in the Party who do not trust
him. He will make one of them his
running mate. But he will continue
smiling.
Jack Lippman
Wall Street Bonuses:
I really don’t know too much
about this subject and I may be barking up the wrong tree, but these are my
thoughts. Please correct me if I am off
base.
I read the other day that
some Wall Street firms are reducing their year-end bonuses and this has made
some of their employees very unhappy.
Such bonuses vary from minimal amounts to amounts in the millions of
dollars. In an industry and a country
where layoffs are occurring, it would appear that such bonuses are obscene and
should be illegal. But I can see why
reduced bonuses would make some employees unhappy.
Join me in assuming that an
effective Wall Street trader or investment banker may be salaried at $250,000 a
year plus a generous benefits package.
At year end, if his activity has resulted in creating significant
profits for his employer, he may get a bonus ranging from a percentage of his
salary up to ten times his salary. This
is supposed to keep his talents with his present employer and avoid his looking
for another firm to join. This is a horrible
way to compensate employees. If an
employee earning a $250,000 salary consistently warrants a $1,000,000 bonus,
his salary should be $1,250,000 and there should be no bonus. Some traders and investment bankers receive
commissions directly. If the commission
percentage is a fair one, there should be no need for a bonus. If, however, the trader or investment banker
receives no commission or just a token amount, with most or all of it going to
the firm, a bonus would be a way of passing the money he would have earned if
there had been a full commission structure on to him. A salaried investment banker or trader who
receives no direct commission has a legitimate gripe, therefore, if his bonus
in lieu of commissions is reduced.
In an economy in recession,
with many unemployed people out there, the concept of Wall Street bonuses
leaves a bad taste in people’s mouths and should be abandoned. A trader or investment banker should be paid
what he or she is worth in salary and commissions with no bonus whatsoever. If he or she becomes a partner in a firm,
however, that would present an opportunity to get a share of the profits, but
until that point is reached, bonuses are a horrible alternative.
JL
Sister Web Sites:
As I frequently mention, I
have established four new websites, all of which are in various phases of
construction. They are bare-bones sites
but each day they are growing a little.
These sites can be viewed at Politicaldrek.com, Sportsdrek.com, Healthdrek.com
and Computerdrek.com. There is already some
content on the first two of them, but all of you are invited to contribute political,
sports, health and computer articles to all of these sites. Pick your site based on the type material you are submitting. You may Email
each site directly by using the “Contact” tab on their respective page-top menus.
JL
Most readers of this blog
are alerted by Email every time a new posting appears. If you wish to be
added to that Email list, just let me know by contacting me at Riart1@aol.com. Also, be aware that www.Jackspotpourri.com is now available on your
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