> 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 $425,0 00 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
> proposedby 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’t ever 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 It Dividend more than do 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.
>
> Ahhh...I feel so much better getting that off my chest.
> Kindest personal regards, , A Creative Person & Citizen of the
> Republic
>
> PS: Feel free to pass this along to your pals as it’s
> either good for a laugh
> or a tear or a very sobering thought on how to best use $85
> Billion! !

 

I thought it was $700 billion oh I see you are speaking of AIG.

 

Yeah, I think it's pathetic. "Save the economy" is the mantra. Hell, if you gave it back to the taxpayers, that would one hell of a stimulus check. We could pay off the house AND buy more LSx cars.

 

I don't think we should be bailing out any poorly managed companies that falsely survived on greed for the last few years. Just because a company is big, that doesn't earn it any more rights than a small company, IMHO.

 

......
$425

 

Yay for math!

 

That's awesome. $425 sure won't buy a house, hell that's maybe a 1/3 of a house payment.

 

 

I was thinking the same thing...lol

 

I think it's a crummy idea either way. IF the business didn't do their job right and it results in their failing, so be it. You don't have the government coming to the aid of every person/family/business otherwise when they file bankruptcy.

The idea of giving the $85B to the citizens of America is as bad an idea. Where do you think the money is coming from? How do you think the government is going to get it? Either by taxation or taxation. . . . Give you money so they can take it away? We don't have a surplus of money, in fact our government is currently in debt. It's worked like that almost exclusively from the beginning, borrowed money. The country can't just 'create money' to distribute it. It has to come from somewhere to have value.

 

the global market would collaspe if these companies go under cause many foreign markets have huge investments with them and the US would feel the worst of it, .......house of cards people, gov't is just trying to keep it together with some elmer's glue is all.

 

Its all going into business stock that has investors in the same market of the people who are supposedly working the kinks out right now. All they are working on is how much will this boost their own investments and that should be seen as bright as the sun.

They are just protecting what they have left after their losses. This will not help anyone who really deserves it and I agree with Tony.

 

Actually...

We didn't have a national debt or inflation until 1913 when the Federal Reserve Bank was created. Up until this time, our currency was backed by gold. We could print as much money as we had gold to back it. Did you know that the FRB is not owned by the United States? Ask yourself why does the government need to borrow money?

Do a little research.

A little off topic, but do you know what type of government our forefathers put in place? It wasn't a Democracy, they hated the idea of one. Nothing in the Bill of Rights, The Declaration of Independence or The Constitution say anything about a Democracy. They founded a Republic. There's even a famous quote from Benjamin Franklin when asked what type of government they decided on; "A Republic, if you can keep it." In a Democracy, 51% of the people control 49% of the people. In a Republic, 99% of the people cannot take away the rights of 1% of the people.

 

The fault lies with greedy people trying to keep up with the Jones' and not being repsonsible for their actions buying houses they couldn't afford.

Its a problem of the banks for loaning them money. Crooked loan officers, and crooked home builders putting folks into ARM's with ridiculous rates.

Its the fault of the mortgage companies believing there would always be demand, and that every house would always appreciate in value. When there are too many hosues, and demand drops. Then prices deflate.

Couple dropping prices to an increase in interest rates and you have folks upside down on mortages. They walk away, and you have tons of houses in default. So, now the banks are stuck with houses that have loans for more than they are worth....


This is very similar in some repsects to the meltdown in the 80's which crushed many banks.


everyone wants to blame Bush and Cheney. But the root cause is the American consumer and our own greed. This isn't aimed at folks who pay their bills otime, and live inside their means. Its aimed at the folks who keep flipping houses and living paycheck to paycheck living way outside their means...

 

ACTUALLY, prior to our becoming a country, John Quincy Adams made a neat little trip over in Europe asking other countries for money to BORROW. Upon receipt of that money, it became our DEBT, hence my saying from the beginning, which was actually before our beginning.

Do a little research.

 

Actually, it can also be, a hat. - Peter Griffin

Do a little research.

-Rick


I'm joking...

 

How can something before our country came into being become a debt to the country? Especially when John Quincy Adams wasn't president until 1825 (almost 50 years after the fact.)

If you can link me to some facts about this, I'd love to see it.

 

thats what im talking about.....last time I looked Bush wasnt god and didnt control every faction of life, there is 3 parts to our goverment also, everybody likes to blame bush for everything...Like kanya West people in general need to look at themselves and stop blaming everything on someone else.

 

Add that to the fact that banks count loans as a part of their actual holdings (banks include money NOT paid on a loan as a part of their capital) so when thousands walk away on $100k+ homes.... well, banks eat their own kaka. Much like now.

You have to also factor in the ignorance of the general population. People hear that 0%, 2% or whatever for "x" months and they think "Awesome!!" They dont think about the 14% that it is going to become, then they dont think what 14% of $100k is and how it will affect their payment (sometimes doubling their payments).


EDIT: I also feel that those companies should not be bailed out. If it crashes the global markets, oh well. **** happens, cant tell me that all those international companies dont have financial analysts to direct them. All those in charge should have their accounts/personal possesions liquidated and paid out to the employees that are about to get screwed (Enron/WorldComm).

 

I used to work for Lou Ranieri who is the guy who created Mortgage backed securities when he worked for Salomon Brothers. The history of that is outlined in a book called Liar's Poker.

Also, just to make sure folks understand a few things. When Bush started talking about cutting back on sub-prime loans, Alt-A loans, etc... he was rebuffed by the Democrats who felt the Republicans were being racist.

If you want the actual quotes, they are in the Federal registry from discussion in the House and Senate long before this crisis reached its apex. So, I don't want folks to think this is just a Bush/Cheney deal.

Also, Obama's leading economic advisors are from FreddieMac and FannieMae. In addition, the largest campaign donations from those organizations went to Clinton and Obama. So, before you start thinking that "change" is going to make this all better, understand his advisors are just a culpable as anyone...

I do have one smart friend who is an old trader, and lived thorugh 1974, and everything since the market started back up in 1980.... He saw this coming and we've discussed it extensively, and has been on the positive side of it. While the market has been in 20% slide he's been up 18% against it. So, up 39% against the market.

I think we need to fix the economy, and get the bad paper out of the system. The real question is this: Is $700B the right way, or is it better to offer lines of credit at 2% and let the companies fix themselves. We have some fundamental changes in lending and regulatory compliance that need to change, and we need total visibility into these companies to see what the balance sheet is at all times...