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Tobacco Companies and Wall Street
From: RD
Sent: Saturday, September 20, 2008 9:41 PM
Subject: Tobacco Companies and Wall St.
Dear Mr. Bellringer,
I wonder if you might publish this as the methodology is so simple even my 4 year old son understands.
A LESSON FROM THE TOBACCO COMPANIES
- Both Wall Street and the Tobacco Companies sold toxic products.
- Consumers were eager to buy toxic products on both fronts.
- Both Wall Street and the Tobacco executives claimed their products were safe.
- Both Wall Street and the Tobacco Companies claimed that they didn't manipulate the content of their products, and both lied.
- Both Wall Street and the Tobacco Companies have made a boat load of money from selling these toxic products.
- The Tobacco Companies were held accountable for their "misdeeds", Wall Street was bailed out at the expense of the taxpayers.
- The Tobacco Companies are still in business, Wall Street is not.
WHAT IS THE ANSWER TO THIS DEBACLE? THE SOLUTION IS VERY SIMPLE!
Rather than spend USD 3T+ on a Wall Street bailout simply do the following:
- Use 25% of the 3 trillion as a percentage payment to the "holders" of the toxic securities, that's it.
- Hold a nationwide lottery that automatically enters any homeowner / buyer that has an existing mortgage.
- Use the remaining 75% of the USD 3T to PAYOFF the mortgages of the "lottery winners" at a discounted rate to the lenders.
- Fire Bernanke (get rid of the federal reserve) return control of the US monetary system to its citizens.
- Fire Paulson, he assisted in the creation of this entire financial debacle through 2006 as CEO of Goldman Sachs.
- Fire Cox, the SEC looks pretty stupid right about now.
What would this accomplish:
- The USD 3T would be spread across the US economy not simply dumped into the Wall Street Hog trough.
- The economy would experience an immediate infusion of cash as those that now had no mortgage, would have the equivalent amount of their mortgage payment as discretionary money to spend each month.
- This single act would increase consumer confidence significantly, the taxpayers would feel as though they had some control over their destiny
RD