You lose, taxpayer, no matter what you do. You need a Robin Hood.
What do you think about the Gov. bail-out?
Wrong, wrong, wrong. Why is it, that whenever the banks or corporations screw up, taxpayers pay for it? Let’s go back to the 1990’s and the Savings and Loan and the RTC (Resolution Trust Corporation). Of course some of you are younger than I am and may not remember the 1990’s and the S& L or RTC messes. That was also another creation of the Government and the mess it put taxpayers through. However, it was not to the extent of the mess you are facing.
Why don’t we let the today’s mess work itself? Here are a few suggestions:
1. Stop paying the chairmen, board of directors, presidents such high salaries, pension and benefits. Instead of “Bail-out” place then somewhere that they can not be “Bailed-out.”
2. The companies need to stop buying back their stocks and stop paying dividend. They should use the money for the liquidity and to change their balance sheets.
3. Stop bailing out companies because of their mismanagement. How is that if a person cheats a bank, that person ends up in jail, but it is OKAY for the banks and CEO’s cheat people and instead of being punished, they are bailed out and sent to enjoy million dollar vacations?.? i.e. AIG officers and a few others.
4. Why doesn’t the Government force the credit agencies (we are not talking about the consumer credit bureaus) to reevaluate the market and do that without having any affiliation and side benefits?
There is a long list.
Here is one thing I do not understand. Why do the consumers have to suffer from mismanagement of the government agencies; as well as, corporations? Consumers are the ones that get cheated every single time. You need to fire your state and federal representatives who have their own agenda and hire people that care for YOU. Let me give you an example.
I remember years ago (2000), I met Charlie Norwood (GA Congressman) who has been honored for whatever… I met him, with NINE (9) agenda on my plate. Of course let’s not talk about his office’s organization skills and how many times I faxed the same list to his office before I met him. When I finally met him, he still had no clue why I was there. I handed him the list AGAIN, which was talking about Senior Citizens, their finances, health and medical issues and benefits. What this “dead jerk” told me after looking at my list (for 2 seconds) is something that I will never forget. He said, “When you, your families, friends and those who listen to me vote for us and our agenda, then come and talk with me.” I had nothing further to waste my time with him. The best thing I could tell him before I left the office was, “I am sorry that I wasted my time. You are not worth me having any discussion with you.”
I have very little respect for company presidents and CEO’s. And believe me, I have a long list of these unmerciful people in my electronic directory. However, there is one that I admire. He is the CEO, founder and president of Cisco Systems, Inc. (John T. Chambers). Over 3 years ago, when the hi-tech companies were suffering, he cut his own salary, also as part of the company’s cost cutting technique.
Anyway, this is my problem. The government, through the help of the IRS and other federal agencies forces tax payers to pay income tax. The state and local governments force you to pay additional income tax, property tax and, soon tax for breathing air. Now if you do not pay any of these taxes, you will lose your home or whatever you own. Meanwhile, it hands you lottery money ($300.00/person) yet, it hands the money that it forcefully collected from YOU into the hands of the no-good companies that have already and repeatedly cheated YOU. What a dilemma??!! No wonder that these companies have such a large budget to support your elected officials and the “special interest groups” around Washington D.C. that are spending millions to vine, dine and pay for your elected officials trips and luxuries”. You lose, taxpayer, no matter what you do.
If this government was really planning to help YOU (the taxpayer and consumer), it should buy the troubled consumers’ loans (which all together is MUCH less in dollar value than the bail out plan) and refinance the loans at a lower fixed rate. In fact, most mortgage loans are FHA and VA backed. This means, after a homeowner is foreclosed, thrown out of his/her home, the two (2) government agencies takes those properties back from the so-called loan servicing companies and banks. Yet, theses two agencies pay the full price for the foreclosed homes YOU LOST (again your tax dollar at work). It is much cheaper for the government to get the properties back from these horrible banks and manage the properties, instead of, putting your hard earned money (forcefully collected from YOU as TAX) into the hands of those CEOs and presidents so that they can enjoy yet higher salaries and vacations, while you and I are thrown out of our homes, losing our transportation (which is the source of our living) and much more.
As I said, “You lose, taxpayer, no matter what you do.” If this government really cared for you, it would have provided:
1. loan forgiveness program,
2. loan buy back program (just like the companies have their stock buy back programs),
3. reduce long term interest rates which is the ONLY thing that helps fallen behind consumers, instead of reducing short term interest rates which helps the banks and companies that are borrowing,
4. freeze the reduced long and short term rates for several years so the taxpayers would be able to get a relief,
5. start pumping oil from the vast internal resources within the boundaries of this country that are created by YOU, your parents and children (the taxpayers and consumers),
6. place a cap/limit on corporate profit and scandalous transactions,
7. Place some of the CEOs in the state vacation homes (not federal); instead of sending them on million dollar vacations.
“No.” That’s not what this government is about. It is a government of the rich and for the rich.
YOU LOSE CONSUMERS.
With all my LOVE for those who are suffering, losing their homes by the forceful and deceptive practices of loan servicing companies, and banks that have been repeatedly supported by the government that is rubbing YOU by itself and then supports those who are also rubbing you. We need a Robin Hood.
Mike Samadi
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