Economic Fix Program Is Not Working For Taxpayers
What was posted on POCPUMA.com on September 28th still stands (see excerpt below). The economic fix program that has been proposed (it keeps changing) still sucks! There is no way we should have trusted our Congress to do the right thing with $700 billion. And, that's why we must NOT go away!
Banks...
Banks have received taxpayer dollars, yet they are still very tight with lending. What's up with that? The banks must lend, or they should return our taxpayer dollars NOW!
Detroit-Based Auto Manufacturers...
Now, the inept and inefficient Detroit-based auto manufacturers are looking for $50 billion dollars. The management and unions of these companies have worked to make their operations uncompetitive. Both my wife and I used to work for them, so we could tell you about why Detroit can't compete on the world stage, but I digress. So let's get back to the key point. No taxpayer dollars should go the the Detroit-based auto manufacturers until they take concrete steps to compete with world-classs auto manufacturers like Toyota, Honda, Nissan, just to name a few. Management and unions must face up to the failure they have jointly created!
New Player in the Handout Game -- American Express...
Did you hear about it? Now, American Express, which recently became a bank, is asking for several billion dollars from taxpayers. When will this begging for taxpayer dollars end?
In sum, we should all be screaming for Congress to stop and go back to the drawing board!!!!!
The purpose of the economic fix program should have been very simple, as noted below.
1. Get lenders to lend money again (this would get cash into the economy)
2. Keep individuals out of foreclosures (this would help stabilize housing market)
3. Facilitate restructuring of corporate and individual debt (this doesn't require taxpayer funds, at all)
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Excerpt from Blog Entry...Financial Markets Crisis: Democrats Are Part of the Problem
Posted by POC PUMA at 9/28/2008 5:16 PM
The proposed $700 billion price tag sucks big time! I just can't stomach the idea of a bailout for
Wall Street greed and Washington ineptitude. Below are some things I'd like Congress to know.
THINGS THAT WOULD MAKE ME HAPPY...
1. Don't give Congress one thin dime of the $700 billion request (review each situation, case by case).
2. Arrest Barney Frank and Chris Dodd (stupidity is a crime).
3. Arrest Franklin Raines and Jim Johnson.
4. Wall Street investment firm executives need to pony up some dough into the pot (these guys are
Obama's buddies, so it's patriotic of them to invest).
5. Love the idea of an insurance fund (like the one that protects depositors up to $100,000 per bank).
6. Investors need to understand they just can't get 100 percent of their money back (that's business).
7. Make loans available to keep financial markets functioning (they don't need $700 billion today).
Banks...
Banks have received taxpayer dollars, yet they are still very tight with lending. What's up with that? The banks must lend, or they should return our taxpayer dollars NOW!
Detroit-Based Auto Manufacturers...
Now, the inept and inefficient Detroit-based auto manufacturers are looking for $50 billion dollars. The management and unions of these companies have worked to make their operations uncompetitive. Both my wife and I used to work for them, so we could tell you about why Detroit can't compete on the world stage, but I digress. So let's get back to the key point. No taxpayer dollars should go the the Detroit-based auto manufacturers until they take concrete steps to compete with world-classs auto manufacturers like Toyota, Honda, Nissan, just to name a few. Management and unions must face up to the failure they have jointly created!
New Player in the Handout Game -- American Express...
Did you hear about it? Now, American Express, which recently became a bank, is asking for several billion dollars from taxpayers. When will this begging for taxpayer dollars end?
In sum, we should all be screaming for Congress to stop and go back to the drawing board!!!!!
The purpose of the economic fix program should have been very simple, as noted below.
1. Get lenders to lend money again (this would get cash into the economy)
2. Keep individuals out of foreclosures (this would help stabilize housing market)
3. Facilitate restructuring of corporate and individual debt (this doesn't require taxpayer funds, at all)
************************************************************
Excerpt from Blog Entry...Financial Markets Crisis: Democrats Are Part of the Problem
Posted by POC PUMA at 9/28/2008 5:16 PM
The proposed $700 billion price tag sucks big time! I just can't stomach the idea of a bailout for
Wall Street greed and Washington ineptitude. Below are some things I'd like Congress to know.
THINGS THAT WOULD MAKE ME HAPPY...
1. Don't give Congress one thin dime of the $700 billion request (review each situation, case by case).
2. Arrest Barney Frank and Chris Dodd (stupidity is a crime).
3. Arrest Franklin Raines and Jim Johnson.
4. Wall Street investment firm executives need to pony up some dough into the pot (these guys are
Obama's buddies, so it's patriotic of them to invest).
5. Love the idea of an insurance fund (like the one that protects depositors up to $100,000 per bank).
6. Investors need to understand they just can't get 100 percent of their money back (that's business).
7. Make loans available to keep financial markets functioning (they don't need $700 billion today).
Barney Frank plus Christopher Dodd = SOCIALISM folks. Let the markets work themselves out. That's what ADAM SMITH said about the market. This is turning Adam Smith over in his grave right now.
We as taxpayers should be proud owning the banks, credit card company,and coming soon a proud owner of the automotive industry( GM, Chrysler, and FORD). I forgot Circuit City is not included due to the fact they are in bankruptcy. So the government won't bail them out but they will bail others out and this is ridiculus folks. WE THE PEOPLE should stand up and tell our congressmen or congresswomen "NO MORE BAILOUT" and let them sink or swim.
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NO BONUSES FOR ANY OF THE TOP EXECS AT ANY OF THE BAIL OUT COMPANIES... This bailout buiness has become a sickness..
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Apparently, the radical usurped Democratic Party, headed by Barook Odrama, also thinks that it is UnAmerican and selfish for anyone, other than these bailed-out darlings, to have any money of our own. We are being delivered completely over to the Global 1% of financiers who own us now and will do so in the future. Wake up, people. Protest to your Congress and Senate. Join with other groups in this contry to protest this...Get off your butts..DO Something!
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I don't know about anyone else, but I can't afford groceries, I can't afford electric bills, I can't afford home repair, and my home definitely needs reparing, I can't afford squat. Jobs through here have dried up, and there is a hiring freeze on at the local colleges and universities, because our idiot governor, Kaine, was too busy running for VP to address the budget shortfall before it became a crises. I'm sure of course, Obama will jump right in and pay my bills for me, isn't that what everyone thought who voted for him?
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If the masses do not get together as a whole and protest all the corruption going on within both political parties, we the tax payers will continue to suffer and you think it is bad now, unless we speak up as "we the people" you have not seen nothing yet. Our country is in debt and the rich are getting richer. Our children will have this to deal with even more so than we do. There are so many petitions and crusades going on over the Internet and we need to pool a group to get everyone on the same page. Everyone is asking for donations and many of us are frustrated about how our donations did not give us the outcome we so prayed for. We need to get a solid grip on how many of us truly want to make our voices heard to stop this nonsense. We the people are no longer being represented by honest politicians.
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Please help raise money to put an ad demanding BO’s BC on USAToday:
http://www.wethepeoplefoundation.org/Update/Update2008-11-12.htm
We can’t have the birth certificate issue die down, please spread the word and make this viral:
http://mylifeontheglist.com/2008/11/14/be-involved-make-this-viral/
And please join efforts here:
http://www.democratic-disaster.com/
This is a serious matter, guys. We can’t let Barry appoint himself God of this nation. This is dangerous.
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The CEO of Goldman Sachs and 6 other execs are foregoing their bonuses this year. Big deal. The salaries they pull in is unforgivable. The profits of these institutions are literally going toward the lifestyle of these so-called high power executives.
See, http://www.washingtonpost.com/wp-dyn/content/article/2008/11/16/AR2008111601386.html
"Blankfein, Presidents and Co-Chief Operating Officers Jon Winkelried and Gary Cohn, Chief Financial Officer David Viniar, and three vice chairmen -- J. Michael Evans, Michael Sherwood and John Weinberg -- asked the board's compensation committee Sunday morning that they not receive a bonus, spokesman Lucas van Praag said.
The executives will only be eligible for a base salary of $600,000 each, the Wall Street Journal reported.
Last year, Blankfein made $68.5 million, Winkelried and Cohn got $67.5 million, and Viniar got $57.5 million. The compensation of the other three was not disclosed."
Rather than bail these companies out, their top execs should forfeit one year each of their salary, bonuses, compensation, etc.
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Cute that blogs like this still exist, where cute, maleducated voices can still cry out to nothing. I love America. And I avoid all of you at parties and in crowds.
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I love the idea of insurance fund too. This way depositors are sure that even the banks will closed they can get their money.
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Find auto accessories manufacturers business classifieds all around the world.Their constructive make-up consists of the tread and the body.
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