Promotions Unlimited is a provider of advertising and promotional material. They specialize in circular / coupon book advertising and providing everyday and seasonal merchandise for drug, variety, craft, grocery, hardware, and dollar retailers nationwide.
Promotions Unlimited owns the Ben Franklin Stores franchise and runs an everyday dollar wholesale program as well.
Promotions Unlimited is a family-owned company since 1973 and is located in Racine, Wisconsin.
Now this once not so talented ex minor league hockey player wannabe, obviously born with a platnium spoon up his ass wants us to believe that the $700 Billion dollar bailout of Wall Street is not a BAILOUT AT ALL, but instead an acquisition would be a more accurate descriptor! At least we understand why he was in sales in the family business!
Basically, as you can read below, this man wants us to buy these depreciating assets and have the government sit on them until some future time and place when they MIGHT regain some of their value, claiming to do other wise would create DIRE CIRCUMSTANCES that are too great to even contemplate...don't you just love that George Bush like fear tactic?
Curious here Mr. Greenburg...what do we get here in the middle class? I'll give you a starting list of some of the things we want.
A) We want our border with Mexico Secured.
B) We want E Verify not only protected, but made MANDATORY for every business in America, large or small. (It is 98 percent accurate.
C) We want it to be a FELONY to hire or house and illegal alien.
D) We want our equity back...the greed on Wall Street has cost me personally $100 thousand in equity, and my house is now worth barely what I owe on it, and that's if I could EVEN SELL IT, all because greedy pricks on Wall Street made loans to people that could never afford them.
E) We want our laws AS WRITTEN ENFORCED, and want ALL ILLEGAL ALIENS deported. In case you do not know it, they depress our wages by over $230 BILLION A YEAR, and steal another $130 Billion a year from our economy by sending it back home to Mexico.
F) We want the same rights in Federal Bankrupcy on our SINGULAR HOUSE that rich people get with their 2nd, 3rd or in the case of John McCain, thirteenth house.
You want to get elected? STOP PANDERING TO THE RICH AND ELITE, take your head out of your ass, and find out what us middleclass Americans are feeling. My take...I would rather see us go into a Great Depression than to see Wall Street bailed out if we are going to be left out of the mix.
The public perception of the current economic recovery plan is that it is a massive bailout for big business CEOs who have mismanaged their businesses, forcing responsible taxpayers to cover for the greed and excess of wealthy “fat cats”. The perception of a “bailout” is scaring lawmakers from enacting the plan, as they are unwilling to put themselves at odds with voters one month from an election.
Many complain that this bill is focused on “Wall St” while ignoring “Main St”. However, the credit market is practically frozen. Small businesses across the national cannot secure credit to grow and manage their business and create jobs. Families cannot secure a mortgage, and only those with pristine credit have even a slight chance at securing a loan to buy a vehicle or send their child to college. The pains on Wall St are mirrored on Main St, and the restoration of credit flow provides direct assistance to the taxpayers.
The term “bailout” is inaccurate. “Acquisition” would be a more descriptive term. The financial sector is in a massive selling mood as financial institutions attempt to shore up capital and ensure liquidity. In this environment, banks cannot sell the loans and assets that currently sit on their balance sheets, leaving them to depreciate in value while hogging available capital. This has exacerbated the problem instigated by irresponsible lending and has caused the credit market to screech to a halt. In this seller’s market the only institution that is large enough to buy up these assets and stable enough to hold them until they regain some of their previous value is the federal government. This acquisition of assets would free up credit flow once again and would actually bring revenues to the federal government in the long run.
Free market purists state that this is a step to socialism, but their reaction is extreme and badly informed. I believe strongly in capitalism, and am one of the chief proponents of the free market system. The problem is that currently there is no market system to be free. That being said, there are adjustments that must be made to the current proposal. The final plan must not allow CEO’s to benefit when their companies have failed employees and stockholders, and proper oversight needs to be ensured. These changes should be made immediately, and Congress must move without delay to enact the recovery plan.
The consequences of reality are too dire to bow to the pressures of perception. How many more banks need to fail before Congress does the right thing, regardless of what the polls say? It’s time real leaders stepped up and did the right thing for the struggling families back home.
Permalink Comment on this post (0)
By
No comments:
Post a Comment