AIG. Let us employ a little compassion here.
Last Friday I heard an interview by Bill Moyer's with Karen Armstrong, a well known former British Catholic nun, author of "A History of God" and the forthcoming "The Bible". She describes herself now as a "free lance monotheist". She was talking about the notion of compassion, the idea of feeling with the other, experiencing with the other, which is based squarely on the Golden Rule, which she states as, "Do not do to others what you would not have them do to you".
Working with people of all faiths, nations and backgrounds she has taken this to a whole new level, socially. Working with the Council of Conscience, she is beginning to write a Charter For Compassion. See www.charterforcompassion.com
In essence she says we need to learn to lay aside our judgments of other people, to see the world through their eyes. Tough to do, especially for one as judgmental as I!
I was reminded to employ this concept after reading Brady Dennis' column in this morning's Washington Post, "Inside AIG-FP, Feeling the Public's Wrath". He notes that those employees still left in the AIG-FP section are feeling very scared; afraid for the safety of their work place, their lives and their families. According to those still there the small number of traders who initiated this whole break down are long gone, having taken their bonuses and left. The ones remaining are those who, they say, have done nothing wrong, have the knowledge of the derivatives and are working hard to undo the mess. Lose them and you lose the corporate history. They have taken the position that if they bow to Congressional pressure and return the bonuses, they would, -- along with their resignations, leaving the firm just when they are needed most. They understand the mess and have the knowledge, if given time and patience, to straighten it out.
Yes, they can be replaced, however in so doing we face two immediate challenges. One, it would take new employees months to learn what was done, when and how. And with the current acute economic crisis, we don't have months for dozens of new employees to engage in the necessary OJT. Second, as the present employees point out, where would you recruit these new folks? So toxic is the image of AIG right now anyone who might sign on would face the "Oh no, you're not going to work THERE are you?" argument. Who, now, would want AIG on their resume'?
So let us extend compassion to those left. Put ourselves in their shoes. How would you feel, if through no fault of your own, you were faced with the prospect of having your place of employment bombed, having news reporters following your home, harassing your family, being consider a social pariah, and be, in at least the short term, virtually unemployable?
So let us first tune down the rhetoric. Get over our anger. Let us have the patience to allow the government find and bring to justice those few who are largely responsible for the crisis at AIG.
We can do this by being compassionate. Jesus told us to forgive those who transgress against us, that no transgressons is beyond forgiveness, that no one is beyond redemption. Let us act in accord with how we have been guided to treat others, to live by the words we speak.
Even atheists, applying the Ethic of Reciprocity can join us and begin to heal the wounds our nation, and world, are now inflicted with.
Let us pray that cooler heads prevail, that those with the ability to solve the global economic crisis rise, with courage and wisdom, to restore balance and trust in the global economy.
- anElder's blog
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AIG - The real villians and what have we learned
According to Joe Nocera of the NY Times and Nell Minow, editor and chairwoman of the Corporate Libaray, the real AIG villians are folks Joseph L. Cassano, former head of AIG's financial products divison, now in counting his money "retirement" and the members of AIG's Board of Directors Compensation Committee. While CEO Ed Liddy was before the House Financial Services Committee, none of members of the Board were.
If, contrary to the norm, Congress is to perform a real service to the nation, it will convene hearings into who, when and how this situtation arose, and put into place legal restraints to prevent future disasters. Rather than be reactive, "Oh, those bad guys getting bonuses in a failing company while the tax payer ponies up money" they need to be proactive. Like what happened here and how can we prevent it? Let them inact measures such as registering hedge fund managers and overseeing the creation of new financial instruments, reporting their profits and losses.
Heads of 20 nations will meet this weekend. I like what I hear from Germany and France re: more controls over the financial industries before more public monies are invested in that sector.
The Chinese character for crisis also includes the symbol for opportunity. Let us take the time and expend the efforts neccessary to determine how this crisis happened and then act on the opporunity to set in place preventative measures.
Moreover we as people need to address the larger overarching issue, the whole social structure of entitlement. It starts with our children feeling entitled to Christmas and birthday gifts, teenagers feeling entitled to get a drivers license at age 16, up to the whole business culture that says it is entitled to bonuses, profit or no profit.
Let us get restore order in the rooms and corridors of our moral house.
Oh Gee The Poor Greed Heads
Oh Gee, the poor greed heads at AIG. Maybe we can take up a collection, they haven't ripped off Americans and taxpayers enough.
Can I forgive one day? Yes, but for now I want to be like Jesus turning over the tables of the merchants at the temple and kicking them out. Sometimes a little symbolic righteous indignation is appropriate. 'jmndodge' was right when he said the amount of money involved here is miniscule compared to the big picture (paraphrasing). If the bonuses become an icon for what went on at AIG and in Congress, so be it. Let it be a teaching lesson for all involved. Right now I want to kick their tables over and throw them out of the temple. I'll save the compassion for later when they write their books confessing all and telling us about how sorry they feel for the millions they scammed off honest people.
Let cooler heads begin by reading Frank's paper
To being the healing process I would invite everyone in this community to read Frank Cocozelli's recently released white paper, "Reclaiming Capitalism Through Principles of Distributive Justice." You can find the full text on the IPC website. Excellently, and a bit passionately written, and researched it's a must read for
progessive Christians.(Gary Vance was so kind, and a talented enough editor, to produce a condensed version. Ask and he shall give!)
Frank has employed a real down to earth readily employable economic philosophy, based on the concepts of reciprocity and responsibility. Please. Read it, send it to your Congressional representative and anyone else who might be in need of a sound education on matters economic.