Self Realization

One interesting about the current market crisis is the realization by the American society of their extravagant spending ways, something which the 'Rest of the World' always grumbled about in the past and points out as a reason for the downfall now.

But what is more interesting is the sudden interest evinced by the media in the paycheck of all CEOs and their property holdings. A report on CNN called these CEOs of Wall Street firms as 'Fat Cats' who drew salaries that are 500 times that of an average American (whereas the ratio was supposed to have been 25:1 a few decades back). Further, the reporter covered a party in Manhattan attended by many Wall Street operators. Wordings used by the reporter as well as the inevitable discussions by a panel included 'amazement', 'furious', splurge', 'flowing drinks' to describe the party which to me did not appear to be any different that has been covered by the American media in the past. But this one makes them furious and hurts them because of the back drop of the crisis.

It is very funny to suddenly see this nation point fingers at top level CEOs for amassing wealth and their self-indulgence, when that defines the very fabric of the American society.