May 24th, 2008 Gennaro Brooks-Church
Found in my in-box:
I’m against the $85,000,000,000.00 bailout of AIG. Instead, I’m in favor of giving $85,000,000,000 to America in a ‘We Deserve It Dividend’.
To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billion that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a ‘We Deserve It Dividend’. Of course, it would NOT be tax free. So let’s assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
• Pay off your mortgage – housing crisis solved.
• Repay college loans – what a great boost to new grads
• Put away money for college – it’ll be there
• Save in a bank – create money to loan to entrepreneurs.
• Buy a new car – create jobs
• Invest in the market – capital drives growth
• Pay for your parent’s medical insurance – health care improves
• Enable Deadbeat Dads to come clean – or else
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.
If we’re going to re-distribute wealth let’s really do it…instead of trickling out a puny $1000.00 ( ‘vote buy’ ) economic incentive that is being proposed by one of our candidates for President.
If we’re going to do an $85 billion bailout, let’s bail out every adult U S Citizen 18+!
As for AIG –
• liquidate it.
• Sell off its parts.
• Let American General go back to being American General.
• Sell off the real estate.
• Let the private sector bargain hunters cut it up and clean it up.
Here’s my rationale. We deserve it and AIG doesn’t.
Sure it’s a crazy idea that can ‘never work.’ But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 billion We deserve the ‘We Deserve It Dividend’ more than the geniuses at AIG or in Washington DC.
And remember, The Family plan only really costs $59.5 billion because $25.5 billion is returned instantly in taxes to Uncle Sam.
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Tags: aig, Bail Out
Posted in Business | 5 Comments »
May 22nd, 2008 Gennaro Brooks-Church
Have you ever heard of a “bust out.” It is a scam to make money.
“The scam works as follows: an organized crime group takes over a business, borrows as much as it can in the business’ name, fails to pay vendors and then disappears with all the cash.
The Bush family and its associates in organized crime and the CIA have figured out how to run this scam on a multi-hundred billion dollar level using the entire US banking system as its playground.”
Brasscheck.tv
The three largest bust outs in history:
The so-called “Savings and Loan Crisis” of the late 80s
The so-called “Tech Bubble” of the late 90s
The so-called “Credit Crisis” of today
How does it work?
“Bankers” trade some widget amongst themselves. The widget has no value but the back and forth trading gives it value. The widget could be Junk bonds, internet stocks, or in the case of today, sub prime mortgages. Others are brought into the game and sooner or later everyone is buying the widgets in a frenzy.
But eventually the widget has to be redeemed. Eventually you have to take your tokens to the counter and exchange them for real money. But like the US dollar that is no longer backed by gold, the widgets have no real value except for the perceived value. So when you try to redeem them you get nothing. And the whole game falls apart.
By then a lot of people have made hugs profits on the pyramid scheme.
But the the real pay day is still to come.
The US government, “in the interest of the people and the health of the economy”, takes tax payer money and “bails out” the “ailing” companies. These companies are run by real people. The “bail out” is real money from real tax payers that goes into the pockets of real people. These are the same real people who made huge profits selling empty widgets.
So not only are they already incredibly well off, but now they get even more money.
The whole process is a two tiered scam of moving money from many to a few. And the government, which is supposed to look after its constituents, acts as the middle man to collect the money from the people in the form of taxes and pass it onto these crooks under the guise of a “bail out”.
Is there a mortgage crisis? Yes! We have all bought into the real estate hype. We have all borrowed money in the form of equity from houses whose value is based on the over zealous perception of all of our fantasies. Is the house really worth that much? It is if we all say so….but it isn’t worth much if you can’t pay the mortgage and nobody can buy it. And that is where we are at now.
So now these financial institutions need to be bailed out because if they aren’t the economy will fall. Lets refrase that: The institutions, which are based on empty widgets, will go out of business. If they go out of business apparently the rest of us who service the people who run those institution will not have wealthy clients any more and we will hurt as well.
But wait a minute. It is a whole house of cards. What are we bailing out? Businesses that trade empty widgets. They should be put out of business. We shouldn’t be serving these people anyway. Our economy should be based on more solid interactions. Maybe some people won’t get outrageously wealthy. But the rest of us will have a more fulfilling economy.
But no, the Bush and Co. crooks are rushing to “bail out” their crook friends. I read in the NY times today that the number is 700 Billion. His package is swift and efficient. The proposal is less than three pages long. It gives the Treasury, supposedly an institution that looks after the people, total control to buy and sell the mortgages as it wishes. Using out money!!!
To give a little perspective. When Katrina hit New Orleans the aid package was slow and inefficient. From my recollection it was around 60 billion, less than one tenth the package Bush wants to give Wall Street. Thats probably the difference between the average income between a New Orleans resident and a financial person on wall street. i.e. A New Orleans resident might make $20,000 a year and the average Wall Street person might make $200,000 per year.
But New Orleans has very few Bush friends. Him and his company have very little to gain by helping New Orleans.
But “bailing out” the golden It is a total fucking scam! It is a scam to pass even more little people money to the crooks of wall street.
The economy is high on empty widgets! It does not belong that high. It is artificial.
And another thing: what crisis? I had the privilege of going to a soiree this week in Manhattan where a small group of influential people got together to network. Among them was a high ranking director of Morgan Stanley.
He stated that Morgan Stanley is far from hurting financially. It has billions in cash reserves. Hmmm…. what crisis? He didn’t see one. He says that whats going on now is just a move to create larger more international banks. He says that eventually there will be just a few very large international banks….
I didn’t share with him my opinion on the whole thing because I am admittedly a total peon in financial knowledge and would come across as some conspiracy guy (which I am, but he sees conspiracy theories as stupid where I see them as worth looking into to see if they might have truth).
His opinions are based on seeing the financial numbers of the economy. My opinions are based on my personal common sense and what I gleam from alternative news sources (I only read the NY times when my rich neighbor throws it out unread). So we differ in perspective.
I’m not judging here. I prefer my perspective despite the power his perspective still holds in the world as it is now. I am looking into the “what if” as an idealist. He is looking into how to make himself and his company billions. Both powerful sights to set on.
I’ve gone off a bit. Main Point: the bail out is a scam. Why are we bailing out gold cuff link guys who already made billions on our backs? Because the government is a facade to falsely act in our favor while passing money from us (the masses who are not billionaires) to the powerful and already rich.
It is repeated over and over. Look at the wars Bush and Co. create so that they can justify giving our money to their private institutions (arms makers to blow it all up then contractors to build it back again in an ongoing circle of carnage and stupidity). But that’s another story….
We are watching a BUST OUT of our nation! Bush and Co. has taken over the United States and is using it as their own company to borrow money in our name (we owe almost $11 TRILLION and counting). They get the money. But we have to pay it back.
Remember Brasscheck.TV’s definition of a Bust Out:
“an organized crime group takes over a business, borrows as much as it can in the business’ name, fails to pay vendors and then disappears with all the cash.”
Our country is being run into the ground by crooks and criminals. Bush may be the most unpopular president in history but do you think he cares? He has successfully made billions for his people. He is the most popular president in history for the elite. And that is who feeds him. We are being swindled in broad daylight. Like lambs we watch as the wolves run around us.Road House film Loaded hd
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Tags: Bail Out, Bush, Morgan Stanley, Mortgage Crisis, new orleans, Savings and Loan, scam, war
Posted in Politics | No Comments »