Reality Check

I read two of the most disturbing and shocking stories today. I was dismayed, appalled, and in disbelief. What was so shocking, two highly publicized stories involving abuse of both power and privilege.

To start with the hopefully outgoing governor of Illinois, Blagojevich, I need to remove the word honorable from his title. In a nutshell he brazenly thought he could "sell" the vacant senate seat formerly occupied by our PE (president elect). He also has been alleged to to have threaten the executives at the financially troubled Chicago Tribune, to fire editors who often criticize the governor. What I think the most telling thing about how ludicrous his actions have been, he was recently quoted as saying he was unconcerned about reports of the corruption investigations that have swirled around his administration since at least 2005 and have swept up 14 other people.“I don’t believe there’s any cloud that hangs over me,” he told reporters at the factory. “I think there’s nothing but sunshine hanging over me.”

Sunshine, well it must not be very pretty where he is now having been taken in handcuffs by the FBI earlier today. If he is found guilty, he doesn't need to be sentenced, rather he should loose every right provided to him as an American. He was willing to trade in on the freedoms of others. No right to vote, no right to free speech, none of it. All so you and your wife could have some financial gain. You were elected to serve-being governor is not a free ride, politicians who behave this way take away the honor, integrity and ethics which are the cornerstones of elected officials. Where did we go wrong?

The other story is more shocking for its tabloid value; John Thain CEO of Merrill asked for a $10 million bonus for this past year because of his work merging ML with BoA, and only loosing the company $11 billion! Wow! He must also really think the sunshine is over him. This is obviously a shocking request on so many levels. The good news is as I publish this post, he has apparently now rescinded this request to the ML board of directors. A good rule of thumb for any executives, you probably should not receive a bonus in any year where your company has suffered major lay-offs, large profit losses, and most importantly if you are receiving Corporate welfare from the government or China, or is that the same thing these days?? Ok for another post.

My final thought here is this, one major theory in the Wage/Gender inequity equation is that men will always ask for what they want, ask for more money, bonuses, promotions; where most women tend to feel they will be compensated fairly and timely. When was the last time you heard about a female CEO asking for a larger bonus?

I can't help but think, as I have been during this massive financial crisis-- what if it were women and not men in these business and political roles?