Skip to content

Obama administration unforgiving, immoral - man fired for 10 cent mistake

Free World Class Education
FREE Catholic Classes
Man lost job over 10 cent mistake made in 1963.

A Wells Fargo Home Mortgage worker has been fired for a trivial offense he committed in 1963. Despite nearly concluding an honest decades-long career in banking and finance, Richard Eggers, 68, was fired in July from his job for using a cardboard dime in a washing machine in 1963. 

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (https://www.catholic.org)
9/4/2012 (1 decade ago)

Published in Business & Economics

Keywords: Obama, Eggers, economy, banking, FDIC, regulations, actuary

DES MOINES, IA (Catholic Online) - Eggers was dismissed thanks to the Obama administration's new approach to banking and finance. It's a strict approach that has people worried across the nation. It's an approach that will affect you directly. 

The alarming approach is the result of applying actuary accounting methods to government policies and law. 

In Egger's case, new banking regulations mandated that banks must fire any employees who have been convicted of even minor crimes including breach of trust and transactional crimes, on the fear they could perpetuate more. Banks, worried about strict FDIC crackdowns and steep fines, have ruthlessly enforced the regulations. Granted, these rules were intended, and sold to the public as a means of cleaning up the financial sector of bad actors, particularly corrupt CEO's and managers who had a record of dishonesty.

However, stated intention is diverging from reality.

These draconian measures matter. The approach that is taken to banks will soon become the norm as it is applied to healthcare and other government practices. Imagine now, the application of government actuary accounting to your medical treatment. Imagine being denied a life-saving operation because government actuaries have deemed you too great a risk to be worth the cost. 

The cause of this is twofold. First, fiscal crisis has the government looking everywhere it can to squeeze money from taxpayers, while reducing what is paid out in certain sectors. This leaves the government free to spend funds elsewhere where the money could produce more politically favorable results. 

The second cause is more fundamental. There is a particular disregard, especially in the Obama administration, for basic human principles. This is evident in the administration's approach to issues of life, freedom of religion and conscience, and law. 

Specifically in Egger's case, Obama's new banking policy does not forgive, nor forget. That's how a man can be fired from an honest career of 50 years for a trivial infraction he committed in his youth. 

Imagine the nightmare as such methods are applied by a lame-duck president across the board to healthcare and other industries.

Not every decision should be based on statistics. Morals should inform decisions too. Eggers spent two days in jail to pay for his shenanigan. Morally, he has paid for his crime and deserves the forgiveness of society. Unfortunately for Eggers, and many more to come, morality is not a factor in Obama's brave new world of government policy. 

 

---


'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'


Copyright 2021 - Distributed by Catholic Online

Join the Movement
When you sign up below, you don't just join an email list - you're joining an entire movement for Free world class Catholic education.

Lent logo
Saint of the Day logo
Light Your Free Payer Candle for a departed loved one

What is Palm Sunday?

Live on March 20, 2024 @ 10am PDT

We ask you, humbly: don't scroll away.

Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.

Help Now >

Catholic Online Logo

Copyright 2024 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2024 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.

Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.