Fill pool instead of selective life saving.
The overall effect of T.A.R.P. and every other so-called stimulus plan created, discussed or implemented have been like stones thrown into the ocean which neither raise the level, nor ripple the surface.
Congress has created the most wasteful spending Bills ever conceived even greater than when they pilfered the Social Security Trust fund.
WE THE PEOPLE are chattel harnessed to the massive debt created by Congress, like it or not, that's the system we have designed and tacitly accepted.
The big three auto makers face a shut down, businesses are closing in domino effect, millions of jobs are lost and more will follow, foreclosures are unprecedented in number and on and on.
Regardless of the source of error in judgment, waste of resources and betrayal of trust, ALL suffer the consequences of this abysmal ignorance.
Have we lost our collective minds? Have we gone numb?
Was listening to Squawk Box Monday morning and a Harvard economics professor was stuttering his way through a flabby minded idea of how to stimulate the economy. Also interviewed were Congressional Representatives, who had the temerity to say that they wanted to issue of millions of dollars of credits so the public can buy a Digital-ready television, and further stimulate the economy by giving additional millions to the pharmaceutical cartel for accelerated planned population control.
Listening also while they are at the Economic Summit Conference in Davos, Switzerland, and they too have no viable solution that promises to benefit all.
Congress, has yet to come up with a solution that actually targets a stimulus for basis of all federal and economic existence; the Sovereign Citizen, YOU, from whence ALL cash revenue, and tax dollars flow.
In my opinion the country and business would have been far better off, and the cost immensely less, if we did the following:
"A High tide raises all boats."
1.) ISSUE A GRANT of UP TO $10,000,000, but limited to the total debt, for every taxpayer to cover ALL legitimate private and public debts, whether federal, state, or local, health, energy, judgments, all of it.
This must include safe-guards to protect against false debt conversion, and the issue date to be determined by a certain ex. date, three or six months prior to activation to prevent cram downs and phony debt.
This would fill the coffers of every bank, state and local government and every business account.
2.) DEMAND A CREDIT moratorium for anyone accepting the grant for 3 to 5 years. All GRANTEES would be temporarily declined from further credit, with the exception of certain emergency, mortgage, or college loans.
3.) All GRANTEES must take and pass a course on financial stewardship designed by someone proven to live by example.
4.) ISSUE A GRANT OF A TWO YEAR FEDERAL TAX MORATORIUM, and no penalties, or tax increases for five years thereafter.
I contend, that if you break it down by average income and population numbers, the cost to the taxpayer would better spent than the TRILLIONS dumped into banks, trusts, and banckrupt businesses and far more effective to stimulate all entities.
If you have a better idea, get it out there. If you agree say so and pass it along.
Do the numbers and prove me wrong.
Have been an Investment Banker since 1983, and currently my primary focus is on commercial capital finance. Given the current economic turmoil, banks from coast to coast are not lending even to their high profile clients, job loss and foreclosure tsunami, particularly now a strict focus on commercial / capital finance, places me in the best of all possible positions.
Our many years of experience, in the business, enables me to structure loans, in a multiple of ways, where others cannot.
Am a Vietnam Veteran, have raised a family of 6 children, have 9 grandchildren and am now single.
If you have already googled my name you will see that I stood against enemies foreign and domestic.
Have experienced great success and profound failure and my kids still love me. Have built several businesses, and know what it takes to create a successful business, and I know how difficult things can be sometimes.
It's never about how much, it's always does it make sense.
If you will help me make it make sense I will help you put together the dollars.