U.S. Senator Wants To Hear Gomen Nasai

[Mulboyne]

Nonpareil: Grassley suggests a Japanese-style approach to corporate governance
If the executives of those troubled financial institutions showed some Japanese humility and remorse, maybe the American people would have more understanding toward their plight during these tough economic times, according to Iowa Sen. Charles Grassley. As it is, his office has been deluged with calls from angry Iowans about any bailout plan, especially executive salaries. "I've suggested it wouldn't be a bad thing that the leadership of these institutions would take a Japanese-style approach to corporate governance, and I'm not talking about going out and committing suicide as some Japanese do in these circumstances, but I am talking about scenes I've seen on television where in belly-up corporations the CEOs go before the board of directors, before the public, before the stockholders and bow deeply and apologize for their mis-management. Something like that happening among Wall Street executives would go a long way toward satisfying my constituents and many Americans that help might be needed and would more gracefully be given by the taxpayers of this county"...more...

[Charles]

Fuck Grassley, he has a consistent record of doing nothing. I've voted against him every chance I get.

I'd go for a little bit of Chinese governance, since they seem to own half of the US debt anyway.

[Jack]

Mulboyne, for some reason my explorer is not loading that Grassley story. Can you cut and paste the whole thing please?

[Mulboyne]

Originally Posted by Jack

Mulboyne, for some reason my explorer is not loading that Grassley story. Can you cut and paste the whole thing please?

The rest of it doesn't relate to Japan but here it is:

The overwhelming number of calls and e-mails to his office oppose legislation that "seems" to bailout Wall Street, Grassley said. "Our constituents have been calling in about (wondering) 'Why pay the high rollers and tycoons who created the problems such big salaries? They shouldn't be getting the taxpayers to take them off the hook.' That's one of the negatives still in the bill I hope they're trying to compromise before a final bill comes up. They (the public) don't want to bailout these financial people in Wall Street, but everybody believes some of this money will be recouped and we have a lot of smart people that are telling us that we will recoup all of it and make a small profit. "But, the public doesn't see us buying assets; they see us pouring $750 billion down a rat hole in Wall Street. So there is a lack of understanding of the approach that is here in Washington that our constituents call a bailout."

[pheyton]

Shit, talk about calling the kettle black! Grassley should start the apologies. Seppuku comes to mind. How bout it Chuck?

[Charles]

Originally Posted by pheyton

Shit, talk about calling the kettle black! Grassley should start the apologies. Seppuku comes to mind. How bout it Chuck?

I'll volunteer to be his second. You know, the guy who chops off his head after he makes the belly cut.

Grassley almost redeemed himself by a recent move to tax megachurches. But then he weaseled out and nothing came of it. Typical.

[Jack]

Thanks Mulboyne.

Grassley is bang on. If those Wall Street fuckers who took out $100 million and more in salaries showed some fucking humility, main street would feel better about this fucking bailout.

[Doctor Stop]

Originally Posted by Mulboyne

...a Japanese-style approach to corporate governance...

And all along I thought the words "Japan" and "corporate governance" were antonyms.

[Behan]

Apologies won't pay for anything.

[james]

i'm with Charles on this one. fuck a forced apology and crocodile tears. the Chinese do some things right - there's no reforming these asshats. line 'em up and march 'em one at a time to the gallows. greedy, corrupt sycophants.