Friday, October 3, 2008
Thursday, October 2, 2008
Something to Ponder .. Kierkegaard
"Life can only be understood backwards; but it must be lived forwards."
-- Soren Kierkegaard
Dave Ramsey's Common Sense fix to the money crisis
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:
Common Sense Plan.
I. INSURANCE
A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.
B. In order for a company to accept the government-backed insurance, they must do two things:
1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.
C. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
A. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.
B. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.
B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.
For more info, and how to contact your congressmen... GO HERE
A few questions for the Sox as the series begins...
- Will the Siox get past the "just happy to be here" syndrome?
- Can they find a way to win a game in a dome?
- will the veteran experience overcome some of the speed of the Rays?
- Does anyone remember that Ozzie was a Ray?
- Will the blackouts continue when the Sox come back to town?
- Will they still be in this series when they come back?
- Can Vasquez keep the game in check for the Sox to have a chance?
- Does Alexi Ramirez have more "hero moments" in that bat?
WE SHALL SEE THIS AFTERNOON...
A few Cubs questions after the loss...
Should the Cubs have tried harder to win Sunday in the hopes of getting the Mets rather than the Dodgers?
Is the bullpen that bad that Dempster had to stay in long enough to give up the big one?
Did anyone see any cats or goats at the stadium last night?
Can Z keep his cool tonight, even if it gets tough?
Does Torre hold a mental edge on Pinella?
Will anyone in the ineup adjust to the pitching other then Derosa?
Will the loss be just what this tem needs to fire up for the playoffs?
"Do they still play the blues in Chicago..."?
TUNE IN TONIGHT FOR THE ANSWERS.
Wednesday, October 1, 2008
Something to Ponder ... JRR Tolkein
"It's a dangerous business going out your front door."
-- JRR Tolkein
The dream is alive...
After last night's thrilling 1-0 victory over the Twins, the White Sox have claimed the final spot in the 2008 playoffs.
While the road to the World Series is most definately a rough one for the Sox, the dream of a cross town Series is alive.
The blackout by the Sox fand was one of the coolest things I have seen in a while in a baseball stadium and I can see it becoming a tradition.
GO CHICAGO BASEBALL!
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