Obama Wants to Reward CRIMINAL BANKERS With Our Taxes

In negotiations on the FLAWED stimulus package there was one moment of clarity where both members of the Senate and Congress did right by the American people and put serious limits on executive pay...in Obama's Ass Kissing Festival, seems that Obama wants to give company's the right to pay excessive bonuses and salaries with our taxes, wants to revisit the Stimulus Bill as written and negotiated...even worse, if Congress is unwilling to rewrite these pay restraints, Obama is prepared to "DO A BUSH", get his way through signing statements.

You see, BANK LOBBYIST are trying to play hardball, are telling President Barack Hussein Obama they will not take part in the bailout if they cannot give out bonuses, pay overly generous salaries to their miserable executives...WHO CARES...let the bastards go BELLY UP. Brain Drain...the supposed brains of Wall Street and the Banking Industry got us into this mess. Here is a suggestion...lets dump the supposed BRAIN TRUST, and bring some folks in with some COMMONSENSE.

Meanwhile, we have Suze Orman on Larry King asking us to ALL GET ON BOARD and support Obama and his Stimulus package...give us a break Suze. Curious here, where do you stand on Illegal Aliens working while Main Street Americans are out of work, are on unemployment. You are aware that Obama and Congress stipped E Verify out of the Stimulus Package, or do you just NOT CARE? Curious Suze, where do you stand on Obama wanting to restore some of the banking industries perks and bonuses. Where do you stand on seeing those of us in the middle class getting OUR BAILOUT...why should Wall Street, the banks, and those in foreclosure get bailed out while we get screwed in the name of saving our Economy? One last thing...on your bullshit line of want verse need...curious here Suze...are you DOING WITHOUT, and with your MILLIONS IN WEALTH, who are you to tell those of us barely getting by what it is that we NEED, verse what it is WE WANT. I need the crooks and government who FUCKED ME OVER to make me whole, but listening to you, I should simply shut my trap and get behind the bailout and stimulus for the good of the country. I'd BE FINE if the banking industry and Wall Street had not CRASHED both the Real Estate and Stock Markets...now that they have ruined the American Economy, why as you suggest should I take it up the ass for the good of the nation?

I am tired of doing what is good for the country...I did what was good for the country when I did without, missed out on opportunity in the name of Affirmative Action. I did without, did the right thing in the FIRST TWO bailouts of Social Security. Again I and others did the supposedly right thing when we accepted depressed wages and lost jobs for Reagon's 1986 Amnesty...tell me Suze...how long are many of us in the Middle Class supposed to keep getting on board the wagon in the name of what's best for the nation?

Why shouldn't some of us in the Middle Class say the hell with the nation, it is time to take care of ourselves. Why shouldn't we stop paying our mortgages walk away from our supposed responsibilities, stop paying our monthly bills and stash some cash for ourselves. Why shouldn't we take the steps necessary to see that Illegal Aliens are not stealing our jobs, and if the Bailout and Stimulus DO NOTHING FOR US PERSONALLY, why should we throw our support behind it? Maybe America needs to implode, maybe people like you need to stop making millions handing out your bullshit advice to us when you have NOTHING IN COMMON WITH US. Sure it is really EASY FOR YOU to tell us to tighten our purse strings, to live without while you live in the LAP OF LUXURY...tell us Suze, what are you DOING WITHOUT? Mu guess...you are lacking nothing, are not making ANY KIND OF SACRIFICE TO SAVE AMERICA.

Obama...Where is My 30 Percent MORTGAGE DISCOUNT?

In the latest news from the White House, it is being hinted at that millions of Americans who saw their homes slide into foreclosure could have the government (with our tax dollars) buy their homes back for them from the bank/lending institute at greatly discounted price (30 percent discount is being tossed around), and then negotiate out low interest 30 year loans so that these families can keep their homes. Now here is my question on this proposal.

We have played by the rules, made all our house payments. Despite this playing by the rules, we have seen (because of the mortgage crisis) the value of our home plummet, and we are currently paying mortgage payments 2.5-3 points higher than the mortgage interest these people in foreclosure would be paying under Obama's new plan. Where is the fairness in that? Why should I and others like me have to keep paying a mortgage at full original price, and at a much higher rate of interest while those that caused its value to plummet get a greatly discounted deal courtesy of my taxes, and GET A GREATLY REDUCED INTEREST rate on top of it all that will be made possible because of my taxes.

Does Obama really see this as fair? This takes those who were behind us in the proverbial food line if you will, and puts them WAY AHEAD OF US! Such a move makes us slaves to our now over valued homes and the mortgages on them, or forces us to just walk away from them...is that what you want Mr. Obama?

The Innocents Compensation Board...Make Main Street Whole

The Innocents Compensation Fund

Author: Sherwood Martinelli, aka Royce Penstinger

In the past say 18 months we have watched the United States Economy unravel, have watched as our mortgages became upside-down, watched as our life savings invested in 401K’s have been devastated, and in some cases made worthless. We have sat in our living rooms stunned as our governments refused to take adequate action against Illegal Aliens that were lowering our wage base, decimating our incomes, stealing our jobs. As the United States Congress tried to ram an Amnesty down our throats we shook our heads in disbelief that our elected officials refused to abide by the wishes of the majority. Against our will, the House of Representatives approved a bailout that will eventually cost us as taxpayers trillions of dollars. Many of us have slid into depression as the stock market crashed, sat in our living rooms mourning as the DOW Jones plummeted under the 9000 mark. Can we be blamed when we ask, “My country, why have thou abandoned me?”

George W. Bush and his advisors including Secretary Paulson are telling us to remain calm that they are working at finding solutions, telling us to be patient and give their bailout a chance to work. With each passing day another pundit such as Ali Velshi trots out in front of the cameras telling us everything is going to be all right, assuring us that we have almost HIT BOTTOM.

What has not been talking about, is those of us who have been destroyed through no fault of our own, where is our bailout? Is it fair that the least deserving in this crisis are being made whole, while the rest of us (the middle class) are asked to pick up the pieces, are asked to sacrifice, asked to tighten up our belts, grin and bear the fact that we are being asked to pay the bill for those who either A) through greed have robbed us blind and crashed our economy, or B) secured mortgages that they could never afford.

If we roll AIG into the mix, the bailout of Wall Street is already costing us as taxpayers right at $1 trillion dollars. In addition to this, we have the FED taking over failed banks, and offering to recapitalize others. Secretary Paulson announced the other day that the treasury would now start lending money on the short market. Additionally, there is a plan afoot to buy mortgages (bad paper) at FACE VALUE from those holding it, then renegotiating a new mortgage on the lowered value of the home with a fixed rate 30 year loan with those in foreclosure. What about the rest of us? It is those very mortgages and foreclosure that have lowered our home values to the point where we are not in upside-down mortgages. Where is the fairness and justice for all in rewarding those who caused the mess while doing nothing for those of us that have paid the ultimate price for their misdeeds and stupidity?

This crisis has already cost our retirement account over $300,000 dollars, and our home has lost over $100,000 in equity. What had seemed like a perfect road to retirement at 60 is now a pathway to a nightmare of broken dreams and promises, a working life that will now have to be extended for years, perhaps even more than a decade. We actually heard John McCain the other day say that our Social Security Benefits (our entitlements) will have to be cut, scaled back as we all pitch in to get through these turbulent times. Excuse me, but each time we get a paycheck, there is a deduction from our pay that is supposed to be matched by our employer and put into a SAFE AND SECURE fund so that we have a safety net, a guaranteed income in our Golden Years. As of today, we have been paying into that fund for almost 40 years! We were told, we were promised by the Social Security Administration that our funds were secure, and based on our contributions; we would receive some $2100 a month in retirement if we retired at the age of 64. Now we are being told, “Sorry Charlie, we lied to you, we have squandered away your security.”

Again, where is our bailout, where is a fund meant to make us whole? Where is the Congress in passing emergency legislation that lets us write these losses off of our taxes this year? Where is a fund, or a plan to renegotiate our mortgages based on the current depressed values of our homes? Where is emergency legislation that allows us to take money out of our 401K’s and Retirement funds without penalties? Where is emergency legislation to change bankruptcy laws, and to put and end to predatory interest rates and fees being charged by credit card companies? Simply stated, when is our government going to bring parity, fairness and justice to the table, when is our government going to take action to make those of us who have played by the rules whole again?

The United States of Socialized Banking

According to Secretary Paulson, affectionately called GOD at the Federal Treasury, the bailout bill passed by Congress would give the treasury the right to give banks direct cash infusion in exchange for ownership in those banks! With everything else he has tried failing, Paulson seems about to WADE INTO SOCIALIZED BANKING in yet another attempt to restore confidence in America's financial sector. Here is a CLUE Mr. Paulson...use that money to buy out all first home mortgages in America directly from the property owners, and then remortgage said loans at FED interest rates for 30 years. You can use the interest collected to begin paying down the NATIONAL DEBT. While you are at it, rescend China's Most Favorite Nation trading status.

U.S. May Take Ownership Stake in US Banks

By EDMUND L. ANDREWS and MARK LANDLER

Published: October 8, 2008

WASHINGTON — Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.

Shawn Thew/European Pressphoto Agency

Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks’ balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones.