The latest scandals dealing with corporate conspicuous consumption are a harbinger of changes to come. Over the week end there was a report that AIG the conglomerate on life-support, had given its associates* $160 Million in bonuses. Also, last week Bernard Madoff the infamous Wall Street tycoon appeared in a New York court for the charges stemming from his Ponzi scheme which defrauded $50 Billion from clients, and was incarcerated awaiting a final sentence in June.
These two cases of what they colloquially call "greed" are the pretext for what I foresee as a tighter control of monetary transactions, and a closer scrutiny of personal finances.
The Obama administration will attempt to retrieve the bonuses that AIG recently disbursed; This was done in spite of recently (the federal government owns 80 % of the company) receiving a cumulative $180 Billion to prevent it from going bankrupt. AIG was spared an implosion with taxpayer funds; Yet, it found the means of channeling millions of dollars for gratuities to its employees*.
Mr. Bernard Madoff hinted that he wanted to set aside up to $62 Million of (in wife's name) his assets for his wife. The Obama administration is trying to seize and liquidate all of the Madoff property & assets: Homes, Vehicles, Boats, Bank Accounts, and even Silverware; This is equitable since he stole 100x that amount from people who trusted in him.
Here we see government's oppressive nature rearing its ugly head;
Of course, in these two instances the measures are warranted. But, the precedent that it sets is what's troubling to me. This is not only a case of justice being served, it's also a case of meddling into people's livelihood;
This will dramatically change banking procedures; Other issues that will contribute to these changes are (increasing regulations to address) the concerns about identity theft, counterfeit money, and money laundering. In a shrinking "global economy" more changes will occur.
It reminds me of what the Apostle John wrote in the book of Revelation, chapter 13, where it states that the second Beast would regulate who was able to buy or sell.
We can argue that these people are getting what they deserve. I agree with that. Yet, I can not forget that the sure word of prophecy tells us that this will eventually happen; And, if this isn't the beginning of the end?
I don't know what it is!
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Revelation 13:16,17.
Arsenio.
P.S. * Edited.