Sunday, February 15, 2009

To the US Senate: Systems don't get paychecks, people do.

Mr Geithner, US Treasury secretary and others testified for many hours before the US Senate.
He was asked repeatedly:
  • what led us to this point?
  • how did we get here?
  • to this crisis, this whatever you wish to call it, etc.
Mr Geithner and others answered "The SYSTEMS FAILED US".

Er, Excuse me - a few minor questions if I may:
  • Did the systems get the paychecks?
  • Did the systems get the bonus checks?
  • Did the systems buy new houses, refi cash out, go on vacation, buy new shoes, buy the 80 th new shirt?
Just to be double sure.
Do the systems have social security numbers?
Should they? Perhaps they should.
Did they get 1099's or w-2's or k-1's?
Perhaps the US Senate will look to re-open it's confirmation hearings.
Perhaps that will be in another life's reality.

It appears based on the unrefuted testimony of these experts, now US government employees, that perhaps systems should be eligible for social security cards; that would have the added benefit of adding more workers to the "social security" system and of course, soon they would be eligible to vote; so that's another benefit - more voices in our democracy - what's wrong with that?

Maybe if the systems have such power and might, perhaps we collectively, can collaborate to get the systems to work for free 24/7/365 and WE ALL can take a vacation; I wonder if the "systems" will not fail us as they have in the past and include Congress? And the SEC. And the tangle of bureaucracy and systems masquerading as civil servants.

The principal - agent problem:
Illustrated by limerick:

There once was a man named Bin Laden,
Who was tracked and hunted by Pakistan,
While the hunting took place, the taxpayer forked over $10 Billion per annum;
Close but n'er did Pakistan find its quarry.
Aye, Aye, Aye
The taxpayer is represented by the systems.
Aye, Aye, Aye
give me another verse that's just like the other verse and I'll find more countries to to hunt this man for you.
And as long as your money's still good.

to wit:
Systems will likely continue to fail lest incentives and interests thereto are in proper alignment.
You see very straight forward that it's all about what's best for the principals, beneficiaries and generations (including current and future) of our collective "systems".

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