If We Bail Out Wall Street, Then Kick Out The CEOs

As Congress plans to bail out Wall Street, we as the future owners of a whole bunch of bad debt need to insist on some changes to the companies we are bailing out. Any company who receives a cash infusion from the Federal Government needs to promise to fire it's board of directors and top executives as incompetent and corrupt. Here's why.

With managements approval Wall Street finagled and cobbled together exotic investments in order to increase firms bottom line without actually increasing their assets. These paper versions of "smoke and mirrors" were at their root, frauds. The practice of "naked short selling" is just fraud. Representing that you have an asset before you actually do would be illegal in any other business. Why is the Wall Street Casino any different.

Pushing through mortgages for buyers who have no way to pay or even qualify for a mortgage is just bad management. Call it "sub prime" or whatever, it's bad business and the management who approved and created that racket needs to be on the street, no golden parachute, no severance. Consider it a plea bargain. In any other business they would be in jail.

Write or call your Congressperson and insist on good governance of the companies we are going to soon own majority stakes in. AIG's entire top management needs to be fired, and as 80% shareholders, we the people can insist on it!