Posts tagged standing

Dateline Washington, 19 October (get it?) 2010: The Peoples Bank & Trust of America has established itself as the only bank of any kind in the United States, wholly owned and managed by the U.S. House of Representatives.
A 2 / 3 majority must now all investment banking transactions; your district representative’s staff reviews individual mortgage applications, and all 401 (k), IRA, and the remaining plan assets employers have been rolled into the Social Security Fund slush.
Only federal and state elected officials from the 45% all purpose Income Tax. The estimated time for new companies is to bring public 4 Five years, all individual account dividends and interest directly into your IRS “grabber” account, CEO’s salaries are 50% of the amount paid to a first year congressman limited, and are paid every government budget deficits on company profits withdrawn before any corporate obligations treated can.
All employees receive the federal minimum wage prescribed Republic, with exception of the managers mentioned above. Scary? This is a scenario that could play out if Congress (or the SEC do not come) to the rescue of the credit markets. It you missed the opportunity to stop, but the chances are a fix is on its way.
Like many other businesses, jobs, and hopes to be killed by this irresponsible Congress? When will the average blogger realize that when a company fails, we all suffer? One would think that the informed and enlightened could take advantage of time, from their SMS for a bit of research and education. Instead, they show their power by influencing public opinion numbers and the marshmallow politicians who worship them.
As economist Irwin Kellner and I have pointed out, this is not a rescue package and we are far from approaching a recession. Kellner’s 28th September Market Watch article points out ten major differences between then and now: (1) In 1929, the DJIA fell 40% in two months vs. around 30% in about a year.
(2) In 1933 the unemployment rate was 33% vs. 6% today. (3) GDP shrank by 25% then, but now at 6%. (4) Consumer prices were even 30%, but then does not remain. (5) Home prices fell 30%, if, and only 16% from recent highs bubbly.
(6) 40% of all mortgages were in default then vs. only 4% now. (7) 9,000 banks in the 1930s not only with 25 or so (bigger and broader basis against those) recently. (8) The Federal Reserve reduced the money supply, (9) raised interest rates, and (10) raised the taxes on foreign imports.
Other points of waiters, we now have automatic stabilizers, deposit insurance, trade and market restrictions as protective elements. The current Congress has never been good but the following points, has achieved nothing for an unpopular president, and ignored his role as the primary creative force in today’s problems.
This is necessary because the transfusion: bad laws have obscured the values on financial institution balance sheets, and have a blood clot in the arteries of credit that the economy is to keep alive.
Learn to pay the accounting rule that facilities have to book assets for pennies on the dollar. Find out why institutions are afraid to loan money are to each other overnight, at any rate of interest — — strangling the credit markets.
Doing nothing is killing jobs, killing companies, and deferring retirements for those who have been to 401 (k counted) and IRA dollars to provide them with income. Congress, of course has an old-fashioned pension plan, it is not such a financial realities.
Examine the relaxation of lending standards that Congress orchestrated over the past administrations, before the debt of companies that forged then extended credit to many speculators and other buyers, the application documents. Learn how the SEC was prohibited from regulating the CDOs and other multiple-leveraged credit market speculations. There are so many culprits outside the corporate executive suite as in it.
Congress is bursting with pride over bringing some of the rich and famous to their knees, and capping some of their obscene compensation arrangements at still shareholder pillaging levels. I’ve often about how these salaries need to be controlled spoken. But the multi-level marketing schemes mortgage, that Congress must somehow invited, and a buy-out will be unbundled, is the right vehicle.
Congress has punished the entire world with its attack on Wall Street, and both parties are to blame. Representatives of the States listed below voted “no”, the credit transfusion can cause death and destruction that are not amortized in many cases. We need to replace them with better decision makers, who can think in economic terms, if they must.
The number and letter code after the state designation indicates the number of representatives and their party: AL-1R, AK-1R, AZ-4D4R, CA-15D9R, CO 2D2R, CT-1D, FL-1D13R, GA 4D7R, hi-2D, ID-1R, IL-4D5R, IN-3D3R, IA-1D2R, KS-1D2R, KY-2D2R, LA-2D3R, ME-1D, MD-2D1R, MA-3D, MI-3D6R , MN-2D2R, MS-3D, MO-2D3R, MT-1R, NE-3R, NV-1D1R, NH-2D, NJ-3D4R, NM-1D1R, NY-3D1R, NC 3D5R, OH 3D7R, OK-3R, OR-3D, PA-3D7R, SC-1R, SD-1D, TN 1D4R, TX 8D14R, UT-1D1R, VT-1D, VA-1D5R, WA-1D3R, WV-1R, WI 1D2R (names withheld there but by the author.)
On Friday evening, candidates Obama and McCain their support for the capital infusion, but neither have made the effort, why — is to explain a large audience ready to enjoy the information. Over the weekend, both at the meetings in order to support the plan and generate support for their respective parties.
Is there enough time to find a hero?