July Fourth Eve Lament

"Bailing leaky boat,

we miss opportunity

for sweet, cleansing swim."

- Lung Ta

We continue to read about the foibles of the New York State Senate and the situation in California, which has begun issuing IOU's to creditors. Funny thing, but NY State's Comptroller must be the only person alive who believes that he can force the "Senators" into respectability by withholding their pay. Citizens know that these guys, and a few women, use their position as a stepping stone to much greater gains. The controversial new "Majority" Leader himself makes a half million a year from his health care company in The Bronx, where he no longer even pretends to live. Holders of CA-IOU's shouldn't hold their breath on payment of real dollars or interest by October. Like GM, CA is in a liquidation situation, except that politicos always wear 3D glasses and are keeping the monster alive to serve only themselves.

Why do we waste our time on this bilge on July 4th Eve? The newest US unemployment data sent the markets reeling yesterday, while all of the state mayhem continued. That mayhem is a constant reminder that the current, globally pervasive economic havoc is not at the core of our problem. The real problem, for those paying attention, was and is Corruption of both our business and political institutions. We have been treating the symptoms, which is fine, but, when will we begin to acknowledge and begin treating the real disease?

Corruption was at the heart of the crisis created when banks, insurers and others could not meet their obligations related to the mortgage markets. Our business institutions, enabled by government, lied to themselves and to their customers about their real financial condition. Private ratings firms and regulatory agencies stood by with blinders on all the while. What passes for media completely missed the story, while being obsessed with bringing down another President. We are now witnessing the baring of institutional corruption on a massive scale in business, media, state and federal government.

And, we haven't even touched upon Detroit and the so-called automobile "industry." The massive corruption of any real business management systems there, coupled with further political meddling by Michigan and federal politicos garnering favor with Unions and what passed for Management doomed GM and Chrysler, and, perhaps, Ford. Only further corruption of any principles regarding the proper use of taxpayers' money keeps these leaky boats afloat on a sea of darkest red filled with lier fish.

And, shall we mention the way that the same banks who messed up on mortgages began using the fine print of credit card agreements to extract much higher interest from their best taxpaying-creditor customers? Or, do we want to review the health care policies issued by Aetna and United Healtcare, among others, whose fine print basically said the companies were not liable to pay for much of anything related to healthcare?

Can we finally say, can our new Leader finally say, in public and out loud, "It's corruption, Stupid?" If we can't say that now and really begin to move forward with a deep sense of humility, we will all be like Governor Sanford of South Carolina. We will be humans who forgive themselves for merely being sinners in God's eyes, when God actually sees us for what we really are: unforgivable Perfect Idiots.

Tomorrow is July 4th. Let's not be celebrating lost heritage. It's time to begin living the true legacy of Independence Day. That legacy is not about the million ways to make a cheap buck; it is about courage, freedom, honesty, generosity, humility and honor. Our young friends in Afghanistan and Iraq are not fighting to save corrupt institutions or short-sighted and greedy politicians; they are fighting to save our true legacy. Let's make sure it's not in vain. Let's make sure there's something real and valuable here when they return home.