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Corporations Are People Too !

By
Real Estate Agent with BlueCoast Realty Corporation

Recently it was said that, “corporations are people too!”  But, faceless corporations aren’t going to seem like real people until we begin seeing real people held to account for our current financial disaster. 

Today’s economy can be traced directly back to the greed, ineptitude and malfeasance of this century’s robber barons – the financial institutions.  Yes, 2008 was the tipping point but it didn’t start there.  It began in the 80s when the government loosened the tight reins of bank regulation in place since the 30s for a reason.  Yes, the great depression of the 20th century can be traced directly to financial institutions allowed to run amuck just as they do now. 

After 50 years of pent-up greed, once the government freed them from their regulatory shackles, it didn’t take long for the savings and loan crisis to happen.  That was our wake-up call and we missed it.   We, the people, not the “corporations” cleaned that one up too.  And, we’ll be cleaning up the next mess because their getting away with it.  It’s three years now and they’re still operating as though their only responsibilities are to themselves. 

Like a perfect sacrifice, we the people were given to the banks in the 80s.  Our future financial lives intertwined with theirs through our retirement plans.  Today, we’re all bound up in their web, held hostage by our 401ks! 

We’ve all attended multiple meaningless HR meetings where we mindlessly chose which funds would get our money.  What a joke!  Most of us could barely balance our checkbooks let alone choose the right stock fund.  Turns out even the executives at the top couldn’t understand the machinations of the bundled worthless funds that caused the crash of 2008.     

Truth is banks don’t have any money unless they have our money – the people’s money.  As stewards of our money, they were required to recognize and honor their fiduciary responsibility to us - their depositors.  But that’s not what happened.  Their greed pushed them to further and further risk our money until they brought the country down.  We were totally naive to allow so much power to be concentrated in their hands and we’re all paying for our apathy and ignorance!

Those of retirement age, like me, will experience a different last phase of life than long dreamed.  Younger people struggling to get a toehold on a career and financial life are also going to have different lives then they imagined.  Yet, the financial institutions responsible for all this misery are still running amuck without consequences.  As for the “corporations are people too” business, it’s meant to confuse us.  That works well for the new robber barons.  If we’re confused we’ll blame each other instead of them.   

What I’m not confused about is that banks without regulations and without regulation enforcement will operate to protect their executives and directors rather than their depositors.  Today we have no meaningful fix in site and no accountability either.   

 Coastal Area Living in Hampstead & Wilmington, NC 910-279-9794www.CoastalAreaLiving.com

Posted by

Beverly Femia

The Femia Team


"With Us, It's All About You!"

 

Beverly Femia

 

 Coldwell Banker Sea Coast Realty

1001 Military Cutoff Road, Suite 101 Wilmington, NC 28405

Fax to 1-866-784-3089 (Toll Free)

Beverly Femia

Broker / REALTOR®

Email:Bev@CoastalAreaLiving.com

Phone:Bev at (910) 279-9794

Search:Wilmington Area Propertywww.CoastalAreaLiving.com

 

 

 

Comments (6)

Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

What about the robber barrons in Washington, aren't they the ones who gave the money????  Aren't corporations really owned by people, maybe we are mad at the wrong people???

Oct 17, 2011 04:31 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Beverly

   Banks exist because people Deposit their money into Banks (basically "give" the Banks their money). 

   Then, the same people Borrow money from the Banks (Auto Loans, VISA Cards, Mortgages)

  Don't deposit money into the Banks, and Don't borrow money from the Banks.  They will go broke and go away.

 

  As for Government Regulation...  How can a Government that is in staggering Debt have sense enough to Regulate anything? 

 

Oct 17, 2011 05:01 PM
Beverly Femia
BlueCoast Realty Corporation - Hampstead, NC
Broker Realtor Stager - Greater Wilmington, NC Are

Ted, they gave the money to save our financial system - that's us - you and me!  An unfortunate consequence was saving the directors and executives too - the people responsible for protecting our money who sold us out. 

Now the directors and executives are screaming bloody murder about regulations because they don't want to change the way they are doing business.  Why would they, they got away with it.  They stole our collective wealth and got away with the greatest heist in American history.   

As for Washington, that problem isn't what they gave the banks, it's what the banks have been giving them for 30 years. 

 

Oct 17, 2011 05:11 PM
Beverly Femia
BlueCoast Realty Corporation - Hampstead, NC
Broker Realtor Stager - Greater Wilmington, NC Are

Fred, well, they say more and more people are putting it under the mattress.  Let's hope they don't have a fire or a robbery.  As for us, whatever government is, it's us.  It's what a majority of us represent and when that's not true any more, we'll change it. 

Oct 17, 2011 05:23 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Beverly,

A lot has been said about Canadian banks and how well run they are.

However, many forget that in the 1980's they wanted to merge, get bigger, buy insurance companies and expand globally.

The federal government said "no", if you want to be a bank, then be a bank, and that means working within a whole lot of regulations.

Those regulations came home to roost in 2008. And, who took credit for it: the banks,

Brian

Oct 18, 2011 01:53 PM
Beverly Femia
BlueCoast Realty Corporation - Hampstead, NC
Broker Realtor Stager - Greater Wilmington, NC Are

Hi Brian,  It figures!  We cannot get a solid floor under this mess until we get a firewall back in place.  When oh when...

Oct 18, 2011 03:46 PM