West Palm Beach – September 26, 2008 – Former Independent presidential candidate Daniel Imperato speaks out in our second interview about the so-called Washington bailout. Though marginalized and blacked out by the major media, tracing his words from the last three years of campaigning will show just how accurate this international businessman has been.
Long before our elected officials in congress and the administration even recognized the problems, Imperato was offering solutions for Iraq, the Palestinian/Israeli conflict, Yemen, relations with China, South America and, of special concern this week, the derivatives market.
Imperato called himself the People's President 2008, and developed a website using that name. Now he offers a solution to the proposed bailout with specific long-term goals for correcting the economic woes in the global financial sector. Because in his words, "what ails America will eventually effect the rest of the global markets."
His 12-point program for the bailout package begins with an absolute reduction in salary for executives running the operation that receives benefits from the government. Imperato offers his own services to help the country and the government to administer the program at a reasonable rate of compensation. And he challenges other qualified businessmen to do the same. "Let's put the country first and get out of this fiasco for a fraction of what our elected officials are proposing. We should only earn conservative salaries and bonuses based on success or failure."
The complete 12-point plan listed below also includes a provision to truly putting the "people of the United States first. In it he calls for buying American, bringing back jobs that were shipped overseas and taxing foreign visitors to raise nearly $3 billion.
Here is the plan:
1. Reduce salary for executives running any operation receiving benefits from the government.
2. Audit foreign banks that participate in purchasing/refinancing or distributing mortgage-backed securities and/or derivatives to ensure they are in compliance with US regulations before one penny is allocated to them.
3. Any foreign bank that breaches US security law, hyper-inflates their balance sheets, or used mortgage-backed securities/derivatives to further enhance their balance sheets then sell off at a discount to create cash-flow should not be entitled to any US taxpayer funds for this bailout.
4. Banks and financial institutions must immediately recognize old usury laws and stop gouging the American people's pocketbooks with exorbitant interest rates and fees on credit cards.
5. Allow American families to buy distressed real estate and homes directly from the banks with the federal government using these proposed set aside funds to provide a fixed mortgage rate of 3% per year. Also allow current mortgage holders to refinance to obtain the 3% rate and extend the mortgage term to 50 years. These provisions will reduce monthly payments and directly help families struggling to meet housing payments as the cost of living increases for food and fuel.
6. Banks participating in the US program will immediately stop ATM charges, overdraft charges and bad check fees that are related to banks holding people's money and not making it available from an institution floating the funds for additional interest.