Tuesday, April 28, 2009

THE FIRST 100 DAYS OF CHANGE

The current administration has initiated a number of promised positive changes to give America back to the people (middle class) but one major problem remains in force --The Government continues to support Wall Street at the Expense of the Middle Class.

America's obsession with investment as the answer to a successful economy continues to cause a neglect of the basic force for success in our Republican Democracy - -the Middle Class. It is the energy of the middle class that fuels our economy.

The solution to the crisis presented by the Secretary of the Treasury was consistent for what one would expect from a former President of a Federal Reserve Bank (NY) --Bailout the Banks at the expense of the Taxpayers. (All the hype about putting the tax burden on the rich is a subterfuge. A small percentage of the ill gotten gains of the rich will go toward the enormous debt undertaken. The middle class will bear the huge burden that will be taken out of their modest income, requiring extensive restraint and hardship.

Why not consider the middle class in the bailout picture "for a change." A Patriot Bond Issue similar to the Savings Bonds that financed WWII could switch the bailout from the Government to a loan to the Banks and the Auto Industry from the taxpayers. Banks and Auto Manufacturers could pay back the taxpayers with interest in a secured program that would be more compatible with the Private Free Market Business Enterprise System than the present program of government intervention (Nationalizing the Banks and Auto Industry.)

Perhaps we could continue the change to "transparency" and "Reform" and add a change to recognizing the middle class as the driving force in our economy. Let Wall Street make their honest gains and take their losses as the middle class is forced to do. Hold Ceo's responsible for their management of the people's investment in the corporations and more responsible management will result. Enact reasonable credit restrictions on loans and a more reasonable rate of mortgages will be foreclosed.

Gambling should only be allowed with "cash in the hand of the gambler that belongs solely to the gambler!

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