Now that Congress seems to be on the verge of taxing bailout bonuses 90% there are still some questions that need to be answered.
With all eyes on AIG and Bank of America and the other companies that got bailout money what about the others who seem to be flying below the radar?
What about Citibank and more importantly what about Fannie Mae and Freddie Mac?
Billions were given to these even before the last round of bailouts and their top execs received hundreds of millions in bonuses.
Nobody even mentions them.
And what about all the change that was promised?
CHANGE: to make the form, nature, content, future course, etc., of (something) different from what it is or from what it would be if left alone.
It appears to me that maybe those in government really don’t know the definition because we certainly have not seen any over the last 3 months.
It appears that many in government don’t know the definitions of a lot of words
Like honesty, integrity and most of all truthfulness.
Maybe every elected official should be given a dictionary and required to pass a vocabulary test before taking office.
And maybe they should be required to actually read bills before passing them.
Now that would be a change.
Friday, March 20, 2009
Thursday, March 19, 2009
Tuesday, March 17, 2009
Not to Worry...There is Always March Madness
Even with the economy in total disarray and more and more people losing confidence with each passing day all will be well by the end of the week because of…….March Madness.
From Washington to Wall Street everyone will be filling out their brackets and entering their office pools.
And for the next week more will be concentrating on their picks than the economy.
It is amazing how sporting events such as this or the Super Bowl seem to just engulf the entire country.
What’s even more amazing is how what goes on in sports often mirrors what goes on in the country.
For the past two decades baseball owners turned a complete blind eye to steroids.
Home runs and higher batting averages meant more fans and better attendance meant more money in the owner’s pockets.
It enabled them to get bigger TV contracts and more advertising revenues.
It enabled them to build bigger stadiums with more corporate boxes while raising prices without a thought for the little guy.
Almost all playoff games became night games and it was hard to find a World Series game that ended before midnight.
And it became even harder for families with young kids to go or watch games at all.
And it didn’t matter that players were pumping themselves full of steroids and putting up phony numbers because as always the end justified the means and the rich got richer……the American success story.
At the same time on Wall Street the story was not that different.
For the last two decades CEO’s and corporate executives pumped the system full of toxic loans and investments.
They inflated numbers and through creative accounting built portfolios that weren't worth the paper they were printed on.
And these financial steroids enabled these executives to make hundreds of millions and as with baseball the little people were given the false impression that all was well and continued to put their hard earned money into these companies.
And just like the baseball commissioner and the owners the SEC and the other governmental watchdogs did absolutely nothing.
And just like the sports writers the business newspapers and financial shows turned a blind eye to what was going on.
And as steroid using baseball players continue to get paid millions Wall Street executives continue to get billions in bonuses at the taxpayers expense,
But just as we are not allowed to require blood tests for ballplayers we seem to have no control over what happens on Wall Street.
And as the owners continue to pay the players tens of millions, the government will continue to bail out these companies with no control over what they do with the billions that they get.
Well it’s the bottom of the ninth for the country with two outs and no balls and two strikes on our government.
You would think that even if baseball doesn’t maybe the government would do something.
And they should start with this.
If these companies are contractually obligated to give bonuses to these execs how about the government taking a stand and requiring that in lieu of cash these bonuses be paid in stock options exercisable in five years.
Sort of like an incentive driven contract. Hell it’s our money to begin with we should have a say in how it’s used.
But unfortunately like baseball this is probably not going to happen.
But not to worry there is always March Madness to keep the masses occupied.
From Washington to Wall Street everyone will be filling out their brackets and entering their office pools.
And for the next week more will be concentrating on their picks than the economy.
It is amazing how sporting events such as this or the Super Bowl seem to just engulf the entire country.
What’s even more amazing is how what goes on in sports often mirrors what goes on in the country.
For the past two decades baseball owners turned a complete blind eye to steroids.
Home runs and higher batting averages meant more fans and better attendance meant more money in the owner’s pockets.
It enabled them to get bigger TV contracts and more advertising revenues.
It enabled them to build bigger stadiums with more corporate boxes while raising prices without a thought for the little guy.
Almost all playoff games became night games and it was hard to find a World Series game that ended before midnight.
And it became even harder for families with young kids to go or watch games at all.
And it didn’t matter that players were pumping themselves full of steroids and putting up phony numbers because as always the end justified the means and the rich got richer……the American success story.
At the same time on Wall Street the story was not that different.
For the last two decades CEO’s and corporate executives pumped the system full of toxic loans and investments.
They inflated numbers and through creative accounting built portfolios that weren't worth the paper they were printed on.
And these financial steroids enabled these executives to make hundreds of millions and as with baseball the little people were given the false impression that all was well and continued to put their hard earned money into these companies.
And just like the baseball commissioner and the owners the SEC and the other governmental watchdogs did absolutely nothing.
And just like the sports writers the business newspapers and financial shows turned a blind eye to what was going on.
And as steroid using baseball players continue to get paid millions Wall Street executives continue to get billions in bonuses at the taxpayers expense,
But just as we are not allowed to require blood tests for ballplayers we seem to have no control over what happens on Wall Street.
And as the owners continue to pay the players tens of millions, the government will continue to bail out these companies with no control over what they do with the billions that they get.
Well it’s the bottom of the ninth for the country with two outs and no balls and two strikes on our government.
You would think that even if baseball doesn’t maybe the government would do something.
And they should start with this.
If these companies are contractually obligated to give bonuses to these execs how about the government taking a stand and requiring that in lieu of cash these bonuses be paid in stock options exercisable in five years.
Sort of like an incentive driven contract. Hell it’s our money to begin with we should have a say in how it’s used.
But unfortunately like baseball this is probably not going to happen.
But not to worry there is always March Madness to keep the masses occupied.
Wednesday, March 11, 2009
SEE HOW QUICKLY A FIRE CAN SPREAD
To All,
Please spare a few minutes and click on the link below to view this video.
It shows how in less than 3 minutes a small flame can grow into a raging inferno.
Please share this with your organizations and more importantly with your kids.
In the case of a fire we really do not have any time to spare.
Hopefully if enough people see this they may be convinced to change their minds when it comes to closing firehouses.
http://www.youtube.com/watch?v=ult6Biaf7oM
After viewing please sign on to our petition to put Engine 161 back in service 24/7.
Thanks
Dennis
Petition to Keep Engine 161 Operational 24 Hours a Day 7 Days a Week
http://www.petitiononline.com/Save161/petition.html
Please spare a few minutes and click on the link below to view this video.
It shows how in less than 3 minutes a small flame can grow into a raging inferno.
Please share this with your organizations and more importantly with your kids.
In the case of a fire we really do not have any time to spare.
Hopefully if enough people see this they may be convinced to change their minds when it comes to closing firehouses.
http://www.youtube.com/watch?v=ult6Biaf7oM
After viewing please sign on to our petition to put Engine 161 back in service 24/7.
Thanks
Dennis
Petition to Keep Engine 161 Operational 24 Hours a Day 7 Days a Week
http://www.petitiononline.com/Save161/petition.html
THE ABC'S OF WHY PEOPLE DON'T TRUST GOVERNMENT
The latest development in the Brookfield Landfill saga is just another example of why people do not trust government.
For over 20 years the DEC and the DEP have lied both publically and privately.
They have purposely withheld findings while ignoring input from the Staten Island Community.
They have repeatedly missed deadlines and delayed the project.
They have put on dog and pony shows under the guise of “Public Hearings” which served no purpose as we are now told that the public will have no say in the new plan which will leave the community at risk and basically leave the site as an unused landfill.
All of this to save money that was already allocated to this project through the Super Fund to clean up toxic sites.
The same fund that was used to clean up every other identified toxic site.
So it appears that decades after this site was closed Staten Island is still getting dumped on.
We would be better off firing the high paid bureaucrats who have fattened their wallets by stonewalling this project from day one with no regard for the residents of Staten Island.
But we continue to allow these ABC agencies to basically do whatever they like answering to no one.
They twist facts, disregard any findings that do not agree with them just like when the EPA told everyone that there was no problem with air quality after 9/11 and the courts refuse to hold them accountable.
And you wonder why people, in particular Staten Islanders, don’t trust the government.
City seeking shortcuts on dump cleanup
http://www.silive.com/siadvance/stories/index.ssf?/base/news/1236600003177050.xml&coll=1
For over 20 years the DEC and the DEP have lied both publically and privately.
They have purposely withheld findings while ignoring input from the Staten Island Community.
They have repeatedly missed deadlines and delayed the project.
They have put on dog and pony shows under the guise of “Public Hearings” which served no purpose as we are now told that the public will have no say in the new plan which will leave the community at risk and basically leave the site as an unused landfill.
All of this to save money that was already allocated to this project through the Super Fund to clean up toxic sites.
The same fund that was used to clean up every other identified toxic site.
So it appears that decades after this site was closed Staten Island is still getting dumped on.
We would be better off firing the high paid bureaucrats who have fattened their wallets by stonewalling this project from day one with no regard for the residents of Staten Island.
But we continue to allow these ABC agencies to basically do whatever they like answering to no one.
They twist facts, disregard any findings that do not agree with them just like when the EPA told everyone that there was no problem with air quality after 9/11 and the courts refuse to hold them accountable.
And you wonder why people, in particular Staten Islanders, don’t trust the government.
City seeking shortcuts on dump cleanup
http://www.silive.com/siadvance/stories/index.ssf?/base/news/1236600003177050.xml&coll=1
Monday, March 2, 2009
Spend Smart
Has anyone else seen the new advertisement from one of the banks just bailed out by the government telling its customers to “Spend Smart”?
Isn't this the same bank/corporation whose top executives refuse to disclose information on billions of dollars of bonus money that was paid out right before the bailout.
And we allow this to go on.
It’s like they are laughing in the face of us all.
They bring the bank to financial ruin get a bailout from the government; terminate thousands of employees while giving execs six figure bonuses and now their tag line is “Spend Smart”
You cannot make this stuff up.
Isn't this the same bank/corporation whose top executives refuse to disclose information on billions of dollars of bonus money that was paid out right before the bailout.
And we allow this to go on.
It’s like they are laughing in the face of us all.
They bring the bank to financial ruin get a bailout from the government; terminate thousands of employees while giving execs six figure bonuses and now their tag line is “Spend Smart”
You cannot make this stuff up.
Sunday, March 1, 2009
Crisis of Confidence
There are admirable potentialities in every human being. Believe in your strength and your youth. Learn to repeat endlessly to yourself, 'It all depends on me.'
Andre Gide
As we embark on a journey through the worst economic times in our generation we hear over and over that there now exists a “crisis of confidence” throughout our country.
Unfortunately that may be true and it does not appear that anything is being done to restore that confidence.
History has shown that nations have fallen and empires have crumbled only because people have allowed them to.
Too often people become too dependent on government and in doing so they begin to lose their self confidence along with their self esteem.
Our government was created by the people and should not be in business to buy the people.
If we continue on this path of entitlement our future is bleak indeed.
If our children are taught that there is no such thing as failure where is their incentive to succeed?
Cheat, lie, steal and be criminally negligent and the government will bail you out.
Surely a roadmap for disaster as our youth will never learn the value of hard work or the satisfaction of a job well done.
Why should they become honest and hard working when it appears that those who are not are constantly being rewarded?
Although the current bailouts may have been a necessary evil they cannot become the foundation of our economic policy.
Businesses need to succeed or fail on their own merits.
Are these executives any different from Bernie Madoff, telling stockholders that all was well as they lined their pockets with millions in salaries and even more in bonuses?
Our government needs to start cultivating confidence by rewarding creativity as well as community and civic responsibility instead of political cronies and lobbyists.
We need programs like those created during the Depression like the CCC where our unemployed may participate and possibly earn tuition credits or mortgage assistance ( if we are going to buy the banks we should have a say in how they are run)
Volunteerism should also be rewarded.
We should consider giving students college tuition breaks based on the amount of hours they have volunteered during their pre-college days.
We should also reward returning veterans with a revamped GI Bill and make it easier for them to continue their educations or advance the skills they have learned while in service.
We need to tap into our ever growing number of retirees and senior citizens and reward them with partial medical benefits based on the hours they volunteer.
People would be much more confident in a government supporting programs such as these instead of bailing out banks or other companies so that they can spend like drunken sailors on corporate jets and naming rights to arenas and sporting events.
As children become more confident in their government and in their future they may begin to become more confident in themselves and we may actually eliminate this “Crisis of Confidence”
Dennis
Andre Gide
As we embark on a journey through the worst economic times in our generation we hear over and over that there now exists a “crisis of confidence” throughout our country.
Unfortunately that may be true and it does not appear that anything is being done to restore that confidence.
History has shown that nations have fallen and empires have crumbled only because people have allowed them to.
Too often people become too dependent on government and in doing so they begin to lose their self confidence along with their self esteem.
Our government was created by the people and should not be in business to buy the people.
If we continue on this path of entitlement our future is bleak indeed.
If our children are taught that there is no such thing as failure where is their incentive to succeed?
Cheat, lie, steal and be criminally negligent and the government will bail you out.
Surely a roadmap for disaster as our youth will never learn the value of hard work or the satisfaction of a job well done.
Why should they become honest and hard working when it appears that those who are not are constantly being rewarded?
Although the current bailouts may have been a necessary evil they cannot become the foundation of our economic policy.
Businesses need to succeed or fail on their own merits.
Are these executives any different from Bernie Madoff, telling stockholders that all was well as they lined their pockets with millions in salaries and even more in bonuses?
Our government needs to start cultivating confidence by rewarding creativity as well as community and civic responsibility instead of political cronies and lobbyists.
We need programs like those created during the Depression like the CCC where our unemployed may participate and possibly earn tuition credits or mortgage assistance ( if we are going to buy the banks we should have a say in how they are run)
Volunteerism should also be rewarded.
We should consider giving students college tuition breaks based on the amount of hours they have volunteered during their pre-college days.
We should also reward returning veterans with a revamped GI Bill and make it easier for them to continue their educations or advance the skills they have learned while in service.
We need to tap into our ever growing number of retirees and senior citizens and reward them with partial medical benefits based on the hours they volunteer.
People would be much more confident in a government supporting programs such as these instead of bailing out banks or other companies so that they can spend like drunken sailors on corporate jets and naming rights to arenas and sporting events.
As children become more confident in their government and in their future they may begin to become more confident in themselves and we may actually eliminate this “Crisis of Confidence”
Dennis
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