The Failure of Capitalism

aigThe world is in recession, may soon be leading into depression.

This is a clear sign of the failure of capitalism which has been nurtured since the recovery of the world economic financial world since the great depression.

The US government is bailing out AIG with $170 Billion of tax payers money. AIG in return will be paying out $165 Million in bonuses and is defending the action. What? Are they insane?

That is capitalism. The rich get richer and the poor get poorer. As analysts are saying, the effect of this crisis will create more poverty and maybe war.

There should be a better way of financial recovery than giving away tax payers money to failing company executives.

310 = 305 = 313

About the Author

Ver Pangonilo

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) – Australia and Professional Electrical Engineer (PEE) – Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).

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