Live from Capitol Hill

If it’s a bailout for the people on Wall Street who got us into this mess in the first place with their greed, withnot caps on their “golden parachutes”, I hope this bill is killed in either the House or the Senate.

Wonder if Pelosi will still be Speaker whenever the House gets around to its next round? The Pelosi PAC story should be rolling pretty good by Friday.

1. By putting up in news that some get golden parashoots, or bonuses which is more than 10% of salary – sometimes even hundreds of percent of salary – you create an environment where the CEO’s hunt eachothers salary packages, constantly chasing reasons to increase it.. And then it gets to the level where they will have tunnel vision, only looking towards their bonuses, since they really do not have anything to fear from crashing their employer’s (all stock holders) company.
2. the market can handle companies going bancrupt, it is just if they fear ALL companies going bancrupt which would be bad. market is about finding the apples in the pie, and the bancrupcy of some companies moves the customers over to the next company (since deposits are government ensured).
3. it should always be illegal to write contracts for the CEO’s which may lead to policies which would be damaging to the company – and the responsibility should be on the accepting CEO to reject too many bonuses.
4. when applying for a loan, the customer writes down his current salary – and like the terrorist act – American government needs to be notified of all monthly mortgage payments expected by banks in comparison to what they make per month – therefore the government would be prepared to see which banks that would have a potential problem with increasing fed interest rates. the government could then adjust the requirements of how much money per month a customer has to have left after paying mortgages (depending on what would be good for the overall market place).
5. insurance premiums on all transactions which could possibly result in a problem further down the road, paid by the party (company) who sets up the transactions – paid to the government. the insurance premium could then be lowered further down the road when the market has calmed down.
6. fed reserve taking over the responsibility of taxing property, in order to keep a more balanced development when it comes to the otherwise volatile property market, which then could impact the overall economy.
it is all very simple details which is necessary.

Jake, the bill was supposed to be put on the internet for all to read. However, the bill presented online is 250 pages long. The actual bill that was voted on was 200 more pages than published. What exactly is contained in the omitted 200 pages? Alot of pork I imagine.

from msnbc:
“I’m personally disappointed that the Senate has chosen to add the so-called extenders bill to this recovery package,” said Hoyer. “…We’ve been told on the extenders: ‘take it or leave it. So in all likelihood, the House will take it.”
It was just two days ago that Hoyer told Senate leaders that the House would not accept the extenders, rebuffing what he described as the upper chamber’s attempt to legislate by “blunt force.”