Wednesday, October 1, 2008

Government looking out after me

It's bad enough that we are all becoming owners of banks and we (or our kids) will have to ante up the $700,000,000,000 that we are told we have to lest we be beset by the mother of all depressions that we are being warned about by a Republican president who has lost all financial credibility, by two presidential candidates that can't say no or 'what if we don't', and by the likes of our Treasury Secretary, FDIC Chairman (excuse our lack of gender correctness) and the moguls of Wall Street, but now we learn that they want to help us make our food intake decisions, particularly if you happen to live in or visit California.

It was bad enough when the Los Angles City Council said that there would be no more fast food restaurants in southeast L.A. because people there are overweight, but now the good conservative govenator Schwarzenegger has signed a bill requiring all restaurants with more than 20 locations to post calorie counts for each of their items on their menus or indoor menu boards. Surely, those who eat Big Macs or Whoppers will cease and desist from their destructive eating habits.

While these left coast nuts sanction life styles that promote AIDS, while good pro-life Catholics like Nancy Pelosi promote the culture of death by abortion, it's nice to know that they want us to lead happier, if leaner, healthy lives--those of us that are allowed to survive.

I sure can't wait until someone passes a law that tells me what color socks to wear each day in order to simplify my life........

3 comments:

Anonymous said...

Hey, CA's First Lady Maria Shriver, looks like she could use a few Big Macs. And in the People's Republic of Lincoln we can't have ratty couches out on the front porch anymore.

Anonymous said...

Black seems to be very popular, however, it is not a law yet. There are fewer white socks in my drawer now I guess its because of all the brown socks. I am not sure if it's legal to wear them after labor day, so I guess they may be undocumented for now. Your life was just made simpler, right?

Anonymous said...

Have you seen this? It sure seems to make sense to me and costs all of us MUCH less.

tq

The Common Sense Fix

Years of bad decisions and stupid mistakes have created an economic nightmare in this country,

but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support

any congressperson who votes to implement such a policy. Instead, I submit the following threestep

Common Sense Plan.

I. INSURANCE

a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance.

Government-insured and backed loans would have an instant market all over the

world, creating immediate and needed liquidity.

b. In order for a company to accept the government-backed insurance, they must do two

things:

1. Rewrite any mortgage that is more than three months delinquent to a

6% fixed-rate mortgage.

a. Roll all back payments with no late fees or legal costs into the

balance. This brings homeowners current and allows them a

chance to keep their homes.

b. Cancel all prepayment penalties to encourage refinancing or

the sale of the property to pay off the bad loan. In the event of

foreclosure or short sale, the borrower will not be held liable

for any deficit balance. FHA does this now, and that

encourages mortgage companies to go the extra mile while

working with the borrower—again limiting foreclosures and

ruined lives.

2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and

executive team members as long as the company holds these

government-insured bonds/mortgages. This keeps underperforming

executives from being paid when they don’t do their jobs.

c. This backstop will cost less than $50 billion—a small fraction of the current proposal.

II. MARK TO MARKET

a. Remove mark to market accounting rules for two years on only subprime Tier III

bonds/mortgages. This keeps companies from being forced to artificially mark down

bonds/mortgages below the value of the underlying mortgages and real estate.

b. This move creates patience in the market and has an immediate stabilizing effect on

failing and ailing banks—and it costs the taxpayer nothing.

III. CAPITAL GAINS TAX

a. Remove the capital gains tax completely. Investors will flood the real estate and stock

market in search of tax-free profits, creating tremendous—and immediate—liquidity in

the markets. Again, this costs the taxpayer nothing.

b. This move will be seen as a lightning rod politically because many will say it is helping

the rich. The truth is the rich will benefit, but it will be their money that stimulates the

economy. This will enable all Americans to have more stable jobs and retirement

investments that go up instead of down.

This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to

stand up, speak out, and fix this mess.





Any reason why our "fine representatives" couldn't/shouldn't be voting on this, instead of the asinine thing they've come up with?