Outside of violent crime, one of the worst things a person can experience is betrayal; that is, believing in someone or something and then being hurt by the sincere belief.
Up until a few weeks ago, millions of hardworking Americans who play by the rules thought they were doing the responsible thing by investing in U.S. companies. Many of these folks were saving for retirement or for their child's education by buying stocks and bonds from what they thought were responsible institutions. No one mentioned that a massive fraud was occurring in many of those brokerage houses and banks. No one told the folks that the system was rigged.
So, when their investments suddenly vanished in the chaos of subprime mortgage corruption, many Americans felt the sting of betrayal and it has left them bitter. After all, they did the right thing and got punished because the federal government, which is supposed to provide strict oversight, allowed corruption and greed to go unchecked.
That is the backdrop of the presidential vote this year. On September 21, John McCain was tied with Barack Obama in many national polls and running ahead of Obama in most battleground states. Three weeks later, McCain was well behind.
It's not that Obama is picking up steam. According to the Gallup Daily tracking polls, Obama's numbers have stayed about the same since mid-September. But McCain's polling has fallen apart. He's getting pounded primarily because he's a Republican and the party holding the White House when the economy implodes always gets hammered.
Just ask Jimmy Carter and Herbert Hoover.
What is somewhat inexplicable is that neither McCain nor Obama seems to understand the betrayal factor. Neither of them mentioned it in the debates. They both campaign as though the financial chaos is just another in a long line of problems. But it's not. People will remember this debacle as long as they live. It's like their money was stolen from them.
And in a way it was. When a guy like Stanley O'Neal can run Merrill Lynch into the ground and walk away with $100 million while stockholders see their investments evaporate, that is a moral crime. When Congressman Barney Frank, House Financial Services Committee chairman, tells the country in July that Fannie Mae and Freddie Mac are "fundamentally sound" and two months later they collapse, that needs to be investigated.
When Sen. Christopher Dodd, chairman of the Senate Finance Committee, accepts a sweetheart mortgage from Countrywide Financial and shortly afterward that company implodes, well, maybe some legal authority should investigate. Or am I wrong?
Betrayal is a terrible thing, and the folks were badly betrayed by the American financial system. My question is: Who's gonna do something about it?
Veteran TV news anchor Bill O'Reilly is host of the Fox News show "The O'Reilly Factor" and author of the book "Who's Looking Out For You?" To find out more about Bill O'Reilly, and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate web page at www.creators.com. This column originates on the Web site www.billoreilly.com.
COPYRIGHT 2008 BillOReilly.com.
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4 Comments | Post Comment
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Betrayal??? It has taken all this time for you to come up with the concept of betrayal? What are you smoking, O'Reilly? What do you think has been going on for the last 8 years? How in the world is it that idiots like you come to such prominence in the media? Oh, excuse me, I meant the liberal elitist media.
Comment: #1
Posted by: Masako
Sat Oct 18, 2008 8:16 PM
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P.S., Mr. O'Reilly-come-lately: If you would like to see some display of outrage with a little, what is it...spine, class, believability behind it, check out Maureen Dowd in the Sunday N.Y. Times. It's clear you don't have any of that, or the guts, to actually call these people out.
Comment: #2
Posted by: Masako
Sun Oct 19, 2008 8:29 AM
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While you're checking out the Sunday N.Y. Times, Mr. O'Reilly, and since the topic is betrayal, hope you had a chance to catch Sunday's, Meet the Press. I'm sure you and all your blood brothers are yearning to espouse your views as to why a Republican, African American, former Secretary of State, and four-star General with a 40 year history of service to his country as a Republican would support a Democratic candidate. Fresh meat for dinner, boys. Let's see how many ways you can try to slice and dice former Secretary of State, Republican, Colin L. Powell. You boys are getting ready to show your true colors; and they are neither red nor blue.
Comment: #3
Posted by: liz
Sun Oct 19, 2008 1:04 PM
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Sir;... Isn't that tough to believe??? -Betrayal on a national level and you can only name three examples, with one an officer of corporation, and two democrats in the congress. Your restraint is admirable. I mean, I think you have the right idea. It is betrayal, sort of, more like a breach of faith, more on the order of a felony. This betrayal of trust reminds me of book I read once called psychology of the absurd. And the author noted that some times people in relationships deliberately engage in an infidelity knowing full well it will end the relationship. Whether they do not want to take responsibility for openly confronting the other person with their desire to leave, or they want to hurt the other and make the other choose to leave, or whether they just don't have the nads for a give and take relationship remains an open question. Could it be that our financial powers have had enough of us??? Maybe they want to cash it in Knowing they will end up owning America and will have us all working for free, or starving in the street. Isn't that the idea in having the government ensure their profit? Is it not because the government does not have to advertize to get paid, and can jail anyone who does not pay??? Isn't the power of government better than a good service or product??? Who else can demand money and get it; and who else would be so generous as to give to the very criminals who have robbed this country for years. They are cool. The whole bunch are cool, cool, cool.... And you are cool too. You are not above making a little political hay out of this nonsense. The fact is, that there is plenty of blame to go around. Even you rate some blame... People like you, who have always been prepared to strip government of the power to oversee, to regulate, or to guard the welfare and justice of the people are guilty... I'm not going to punish you, but I find you plenty guilty... I hope the people you have hurt go after you and bother you.... I hope they bore you, and abuse you, and question your rights. I hope they intimidate you... I hope they deny your right to justice, and ridicule you... Isn't that your refuge; ridicule, or is is sarcasm??? Maybe you don't realize that good government is the strong right arm of the people. So what if we have no good government??? What have you ever done to improve it??? If it is improved, if government is ever made to act on the people's behalf, people like you will be behind bars for you own protection because no sane government would waste money or time protecting you when your whole life is self service... I know you. I have known a hundred people just like you in my life, and I wouldn't be like you if you were the best example I had...There is always someone like you at the head of the line getting his and crapping all over everything he can't cart off... It's the American way... And that is my idea of betrayal... You've taken something from this place, and you've taken something from the people. What have you given the world but lies???...Thanks for nothin...Sweeney
Comment: #4
Posted by: James A, Sweeney
Sun Oct 19, 2008 7:59 PM
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