lacking accountability

i have some opinions on this recession we’re currently wading through, but most of my more level-headed thoughts are the same as naz’s. so go read his write-up.

regardless of whether or not i think ultimately the recession could be a good thing, some issues remain regarding overall money management and accountability of CEOs, COOs and CFOs down to those in accounting. here’s the thing: i have a loose budget. i understand what i can spend a month on items X, Y and Z. i know that my salary is too low to afford a mercedes benz, therefore i do not go out a buy said mercedes benz. i buy groceries, splurge on a short vacation now and again, and save anywhere between 10–20% a month because that’s what my financial advisor tells me to do. you know, for the times i may not have a job. you know, these current “economic times” that are fucking up a good portion of the global population. so why couldn’t high-profile, allegedly intelligent white collars do the same?

and yes, i’m saddened by the fact that many are losing jobs and having a tough time making ends meet. but i’ve been there. i’ve been laid off before. i’ve watched my parents struggle, and in neither regard is it at all a good time. but naz and i are lucky (thus far). in fact, we’re now helping our parents whenever we can. yet we still manage to save money, indulge a little and pay our bills all at the same time. and we’re not millionaires. we’re not even hundred-thousand-aires. so to those high-paying people who have managed to run their corporations into the ground and fuck up a lot of hard-working individuals’ lives, i say seriously, WTF?

i guess i should clarify that i’m saddened for those who were bad off before and are now even worse. i have no pity for those who over-extended themselves and are now crying foul. please. i speak for myself and many peers, family and friends when i say we did what we were supposed to do, we played by some semblance of rules. so i can’t say i’m in full support of these bailouts and second chances that are happening right now.

to end on a more optimistic note and let up on the scolding, i’m hoping that those who can still get small loans go out on a limb and start new businesses that will benefit their local community. i hope that people pay more attention to how much petroleum goes into a trip to the grocery store, and not just how much in their own tank, but how much was required to package a couple pounds of asparagus from argentina. and maybe more people will learn how to sew or at least frequent goodwill and second-hand stores more often. i’d like to think the DIY movement will only strengthen as “stuff” becomes more expensive or scarce. and of course, bike or walk instead of drive whenever possible. my grandparents don’t know what “granola” is (other than a food) but i think they would approve of some back-to-basics behavior from all of us.

as we ready ourselves for a move, i started taking stock of our current possessions, and naz and i are far from perfect. amazingly, though, a good chunk of my clothes are second hand and another solid portion are produced by socially- and environmentally-responsible companies. some of our furniture is hand-me-down or craigslist finds. and as we purge and set up shop elsewhere, i will do my best to continue to resurrect stuff with a previous life as well as support the livelihoods of those who didn’t bow down to the pressure of a waning economy.

02 March 2009