Economic Reform, Bailout Protest. - Recently Updated Pages

Propaganda vs. Truth

stereoagnostic — Fri, 23 Jan 2009 19:58:35 CST

Protect NO ONE This is a purple issue! Leave your politics at the door!	Expose the TRUTH After you research the "claim," share your conclusions and ask queations!	PROOF It is OUR responsibility to seporate fact from fiction!
Fannie Mae and Freddie Mac caused the current economic crisis. One need not look any farther than Fox News, The Drudge Report, and Conservitive Talk Radio to fill themselves with this nugget of propaganda. This misleading information is espically infureating because deamonizes the concept that people living at the brink of that "approval" rating for home loans are not worth the risk. That is dangerous and too many people are taking these sound bites at face value. To be fair, I bought into this statement as well; until I took an hour and researched the validity of the claim.	Deregulation, lack of tranparancy, and greed contributed to this crisis. Enabeling banks to wright risky loans to lower income applicants has always been a mandate of Fannie Mae. It was created as America started climbing out of the Great Depression in 1938. The inception of Fannie Mae is rarly blamed for the current crisis. The "conservitive" reporters begin this propagandus tale in 1977: Carter passes the Community Rienvestment Act. If this was truly the beginning of the end for Wall Street then how come Sub-prime and Alt-A Mortgauges had no effect on the market through Carter's Administration, Reagan, Bush Sr., Clinton, Bush Jr.'s first term?	1992: The Federal Housing Enterprises Financial Safety and Soundness Act of 1992. In the name of "regulation," this bill created OFHEO to ensure both companies were "adiqutaly capitolized and operating safly." Like most legislation, it does not seem harmful on paper but in pratice facilitates desecption if and when "the bulls" are let out of the pen. 1999: Oh no they did'nt repeal the Glass-Segal Act of 1933!?! Yes they did?!? This may be the BIGGEST blunder of the 90's in terms of legislation. Glass-Segal made it impossible for comercial investment banks to buy or issue private loans...like a home loan.

Use the "EasyEdit" tool to bust propaganda you have stumbled across!

Use the "EasyEdit" tool to bust propaganda you have stumbled across!

Add videos that expose propaganda	Add videos that show the truth
	Video based on F.A. Hayek's book "Road to Serfdom"

PROTEST THE $700 BILLION BAILOUT!

aenwede — Wed, 24 Dec 2008 03:42:10 CST

Take action today! We can build a BETTER ECONOMY!r rathetlved today!

STOP THE OUTRAGE TODAY!

What You Can Do to Save Save the US Economy

ACTION ALERT:

Send Congress $700 Billion in Monopoly Money by 1/20

Join Our Community Today!

Help us Recruit, Organize, and Think Tank Solutions to the Economic Crisis.

...............

On January 20th, President-elect Obama will become our 44th President.

Take Action!

Participate in Our National Protest and Sign the Peoples Amendment to HR 1424

We want to let the President-elect know we heard his request for involvement and we want Congress to know the People will no longer tolerate business as usual.

We want American citizens from every age,

Amend HR 1424!

Read It, Add to It, Sign It. Let Congress Know How To Spend Your Tax Dollars.

trade, and race to send a our
message loud and clear. The time for Economic Reform has come and Washington, you are incapable of fixing the World Wide Financial System.

We Need Your Help!

Help Us find every piece of the Economic puzzle. Click Here to Find Out How!

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Enter our Contest l Organize a Monopoly Money Party l GLBTQ Monopoly

Money

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Quote of the Day

...................................

If we get a government that reflects more of what this country is really about, we can turn the century -- and the economy -- around.
............................................................................................................
...........................................................................--- Bella Abzug

Current Events

Monday Dec. 15 - 22

Invitation Drive

Send 10 People an Invitation to Join Our Community

Send Congress $700 Billion in Monopoly Money

Let Washington Know How we feel about the $700 Billion bailout of the institutions that facilitated this crisis.

Stop The Outrage has a wish list of Economists. This list represents.over two hundred Economist that signed a letter to Congress urging them not to pass HR 1424 as it stood. We have contacted every Economist on this list!

Research and Development

Complete the Time line of the financial meltdown even if we have to go all the way back to Ft. Knox.
Develop an Amendment to HR 1424; for the People by the People.
Develop Legislation aimed towards Economic Reform.

Organize

We need 10 Organizers for each state representing at least 5 counties or cities.

World Wide Outreach.

In order to Build lasting stability in the International Markets, we need to World Wide communication and consensus.

We need the American People to Stop the Outrage and Save the US Economy!

We need the World to Stop the Outrage and Save the Global Economy!

We are in this Together!

	On November 24th 2008, the BBC2 let the cat out of the bag. Chanel 4 ran the two hour documentary, An American Time Bomb. This is merely a clip of that life changing film but it sums up the situation we are in. Now that you know...what are you going to do about it? Send Congress a message... "We the People will take over from here. Send us what you've got and we will figure it out." Let them take care of the rest of America. Who do you trust? You or Them?

On November 24th 2008, the BBC2 let the cat out of the bag. Chanel 4 ran the two hour documentary, An American Time Bomb. This is merely a clip of that life changing film but it sums up the situation we are in.

Now that you know...what are you going to do about it? Send Congress a message...
"We the People will take over from here. Send us what you've got and we will figure it out." Let them take care of the rest of America. Who do you trust? You or Them?

Stop the Outrage has been busy Networking! If you belong to any of these sites: Send Us a Friend Request! Facebook..............Blogger....................... MySpace......................Forum Twitter..................................Digg Facebook Event.............................MySpace Event....... ..................................................................................(Invite your Friends!)...............................................(Invite your Friends!)..................................... YouTube

Stop the Outrage has been busy Networking!

If you belong to any of these sites: Send Us a Friend Request!

Facebook..............Blogger....................... MySpace......................Forum

Twitter..................................Digg
Facebook Event.............................MySpace Event....... ..................................................................................(Invite your Friends!)...............................................(Invite your Friends!)..................................... YouTube

Monopoly Money Contest

etharmon — Mon, 22 Dec 2008 21:34:38 CST

Make Your Own Monopoly Money Contest

Submissions Slide Show

Winners will be featured on our Home Page!

Show Off Your Monopoly Money Designs

How to enter:

Design your own Monopoly Money. Be Creative!
Scan your design into and save it as a JPEG file.
Computer designs also need to be saved as JPEG.
Upload the file into our Submissions Album.

All Winners will be decided by Members of our Community! To vote simply click on Submissions Album, click the submission you want to win and for which category.

Categories:

Submissions Slide show

Most Creative	Made Me LOL
Most Original	Most Informative

Best Incorporation of Other Issues You Care About

Best $2,000 Design

Best $700 Billion Design

...........................................................................................

Stop the Outrage wants your feedback!

Start a thread at the bottom of the page and tell us what you think about this project!

Send Congress Monopoly Money

etharmon — Mon, 22 Dec 2008 21:33:38 CST

.Send them

..... .$700...
..BILLION.. ..................

.by January 20, 2009

Send Congress Monopoly Money

Travel around the board for details.

Find Your Representatives Contact Information

Get the boring part out of the way. Locate your Representatives address, fill out your envelope, and stamp it.

Link - US Representatives
Link - US Senators

Get Monopoly Money: $2,000 or $700 Billion worth

How to get Monopoly Money

Monopoly Game
Make Your own
Print Monopoly Money from Google Images
Print Monopoly Money from this page.

Mix it up anyway you like!

Personalize Your Monopoly Money

Write a note or quote on your money.

Make sure you include your representatives name as well as yours.

Please refrain from using offensive language

Why is this Monopoly Drive Important?

Let Congress know "We the People of the United States of America" are informed and OUTRAGED about the unproductive bailouts and overall state of the Economy.

Congress needs to know
the Age of American complacency ended 9/15/08.

Monopoly Money!

Here are some pictures you can print to send to Washington. Don't forget to add your thoughts about HR 1424 and the economy!

Send Your $2,000 or $700 Billion to Washington

Put your personalized Monopoly Money in your stamped and addressed envelope.

Feel free to include a detailed letter relaying your economic concerns.

Stick it in the mail by
January 20th 2009.

What Is The Significance of $2,000?

Stop the Outrage is committed to our mission: Getting the Ammerican people involved.

$2,000 x 350 Million People equals
$700 Billion.

Quote Corner

Here are some quotes you can use to personalize your Monopoly Money. Learn how to add your ownquotes to the quote corner slideshow!

Recreational Railroad

Follow the board for Monopoly Money Fun!

Fun Facts Parking

Follow the board and learn Fun Facts about our Mail Washington Monopoly Money Drive!

Picture This: Monopoly Money Slide Show

The Stop the Outrage Community wants to see pictures of you!

Before you mail off your Monopoly Money, hold it up and snap a picture.

Upload the picture into the Monopoly Money Album.

Monopoly Money Design Contest

Create your own Monopoly Money and submit it to our design competition.

There are several categories up for grabs so submit as many designes as you want.

Entries will be voted on by Members and the winners will be featured on our home page.

Mail Monopoly Money Quote Corner

Add your favorite quotes about the economy and bailouts to our quote corner.

Add original quotes.

Use quote corner and add a personal touch to your Monopoly Money.

Organize in Your Area

etharmon — Mon, 15 Dec 2008 23:02:38 CST

Organize Monopoly Money Parties. Organize Promotion Parties.

Use the "easy edit" bar located in the top right corner of this page. Please give your city, state, name, and wetpaint e-mail if you are intrested in organizing the rally in your city!	Our goal isto go to Washington 140 Million Strong! In order to get that many voices, we have to make the National news. The National effort againt Prop 8 proved a National Rally will do the trick!

Use the "easy edit" bar located in the top right corner of this page. Please give your city, state, name, and wetpaint e-mail if you are intrested in organizing the rally in your city!

Our goal isto go to Washington 140 Million Strong! In order to get that many voices, we have to make the National news. The National effort againt Prop 8 proved a National Rally will do the trick!

City/State	Monopoly/Promotion	Name	E-mail

City/State

Monopoly/Promotion

Name

E-mail

Charleston, South Carolina	Promotion	etharmon	etharmon@wetpaint.com

The Federal Reserve

stereoagnostic — Fri, 12 Dec 2008 17:30:11 CST

What is the Federal Reserve?

The Federal Reserve or "Fed" is the central banking system in the U.S. It was created in 1913 by the enactment of the Federal Reserve Act, signed into law by President Woodrow Wilson.

Despite the name, the Federal Reserve is neither truly "Federal" or a "Reserve". The Fed operates as an independent central bank. Its decisions do not have to be ratified by the President of the U.S. or anyone else within the executive branch (source).

Federal Reserve Configuration
The Federal Reserve is made up of:

The Presidentially appointed Board of Governors. Ben Bernanke is the current Chairman of this board.
The Federal Open Market Committee
Twelve Regional Banks located in major U.S. cities (each with a nine member board of directors)
Private U.S. member banks which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks
Various advisory councils

Historical Context

U.S. Constitution Article I, Section 8 - Powers of Congress "The Congress shall have Power To...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures" Before the Federal Reserve System was created there were two previous periods of central banking. The First Bank of the United States, chartered from 1791 to 1811, and the Second Bank of the United States from 1816-1836. Central Banking timeline: 1791-1811: First Bank of the United States (20 year charter expired) 1811-1816: no central bank 1816-1836: Second Bank of the United States (killed by Andrew Jackson) 1837-1862: Free Bank Era 1863-1913: National Banks 1913-Present: Federal Reserve System	Andrew Jackson on Central Banking The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it. If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations. Thomas Jefferson on Central Banking The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.

U.S. Constitution
Article I, Section 8 - Powers of Congress

"The Congress shall have Power To...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures"

Before the Federal Reserve System was created there were two previous periods of central banking. The First Bank of the United States, chartered from 1791 to 1811, and the Second Bank of the United States from 1816-1836.

Central Banking timeline:

1791-1811: First Bank of the United States
(20 year charter expired)
1811-1816: no central bank
1816-1836: Second Bank of the United States
(killed by Andrew Jackson)
1837-1862: Free Bank Era
1863-1913: National Banks
1913-Present: Federal Reserve System

Andrew Jackson on Central Banking
The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it.

If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.

Thomas Jefferson on Central Banking
The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.

Zeitgeist The film to the right provides some additional historical context and explanation on how central banking systems work. It includes an overview of how central banking and the Federal Reserve manipulate the money supply. These manipulations directly led to the Great Depression and our current recession. Part 2 touches on the Federal income tax and how that money is used to pay for the interest on the national debt.	Part 1	Part 2

Zeitgeist
The film to the right provides some additional historical context and explanation on how central banking systems work.

It includes an overview of how central banking and the Federal Reserve manipulate the money supply. These manipulations directly led to the Great Depression and our current recession.

Part 2 touches on the Federal income tax and how that money is used to pay for the interest on the national debt.

Part 1

Part 2

Creation of the Federal Reserve

under construction

How the Fed Works

Money Creation

Step 1 - The Federal Open Market Committee approves the purchase of U.S. Bonds
Step 2 - The Bonds are purchased by the Fed
Step 3 - The Fed pays for the Bonds with electronic credits to the sellers bank. This credit is money made up out of thin air by the Fed.
Step 4 - The banks use the deposits as reserves. They can loan out approximately 10 times the amount they have on reserve. This is called "Fractional Reserve Banking", and this system is the primary cause of inflation.

So not only is money conjured into existence out of nothing, but the banks can then loan out more than they receive from the Fed and charge interest on it as well!

The Fed and National Bankruptcy

Ron Paul interview excerpts from the film "Fiat Empire"

Peter Schiff on how government and the Fed are to blame

Academic Think Tank

etharmon — Tue, 09 Dec 2008 22:19:20 CST

This page is for the economic whiz kids! We want your ideas on how to fix and reform our Economy! We invite you to submit legislation to be voted on by the American People. We will then take the approved legislation to Washington and submit it to Congress. Thank you for helping right the wrongs of the last several decades!

Amendments for HR 1424 Use the "easy edit" button to add your name and e-mail address. We want to build a strong network of economists. The goal is to reach consensus through lively debate!	Economic Reform Use the "easy edit" button to add your name and e-mail address. We want to build a strong network of economists. The goal is to reach consensus through lively debate!

Use Gabbly to communicate in real time! It's easy!

Type your name in the name bar, see who else is on,

and debate those brilliant ideas!

We are approaching the peoples legislation as a democracy. You, the whiz kids represent congress and we welcome ideas from all sides of the isle.

Everyone else will serve as your oversight community. We are responsible for researching the validity of your proposal, make suggestions, weighing the pros and cons, and filing a findings report.

Each Oversight will have 2 Whiz Kid's as Moderators. One Whiz Kid that represents Macroeconomics and one representing Microeconomics. Their main role is to answer questions about the economics involved and how they relate to each other.

Together we can Fix this mess!

Start a thread detailing your ideas as well as the pros and cons of the proposal.

Timeline

stereoagnostic — Tue, 09 Dec 2008 12:44:04 CST

How this crisis happened from beginning to end.

Highlights: Who, what , when, where, and why of the financial crisis		Web-Links loaded with information about the finical crisis
1913 - The Federal Reserve Act is passed, creating a governmental monopoly of the money supply.	Since the establishment of the Federal Reserve, in 1913, the U.S. dollar has lost over 95% of its purchasing power.	The Fed and Its Lies (2008)
Aug. 11, 1987 - Ronald Reagan appoints Alan Greenspan as chairman of the Federal Reserve. He will serve in this position for the next 18 years. Most of the deregulation and low interest rates put in place by him happens during the Clinton Administration.		Alan Greenspan and the NY Times Time-line: Alan Greenspan
1990 - Finance/Insurance/Real Estate Companies made $2 Billion in political contributions over 18 years.		Political roots of the economic crisis
1999 - Senator Phil Gramm (R-TX) and House Member James Leach (R-IA) introduce legislation that repeals the Glass-Segal Act of 1933. The Bill passed by a 2/3 majority making it Veto Proof.		Key Policy Decisions -Article that does a good job explaining US policy decisions that enabled this crisis to happen. Glass-Seagal Act
December 21, 2004 - Fannie Mae CEO Franklin Raines resigns and Daniel Mudd is named interim CEO. -The 2004 Congressional hearings regarding Fannie Mae was about ACCOUNTING practices, NOT Sub-prime lending practices . - Mudd reverses polices that opened the door for this massive abuse of power. Pressure was coming from the lending Companies as well as Capitol Hill to ramp up the Sub-prime lending.	"According to a survey by the New York Fed, about 77% of sub-prime mortgages and 85% of Alt-A mortgages were issued after 2004." - David Fiderer	Events Leading to CEO Daniel Mudd's appointment Fanny Mae's Accounting Mess -Note: This had nothing to do with the Sub-prime mess! Fanny Mae & the Crashing Economy: Fact vs. Fiction -This article was written in response to a heavily edited you tube video. The video is disgusting and does not represent the truth. This article does a good job separating fact from fiction.
March 2008 - G-7 hints at another round of rate cuts. In retrospect, we could have seen this coming...if we had bothered to look.	"Other weapons in the G-7’s arsenal to counter a bear market for equities include brainwashing investors through the media, fudging economic and inflation data, inflating the money supply, managing the “yen carry” trade, and outright intervention in stock index futures, championed by the US “Plunge Protection Team.” - Gary Dorsch	Economic Crash is Coming - A concise analysis of the G-7 Central Bankers mad dash to cover up a bare market.

Historical Background

etharmon — Mon, 08 Dec 2008 19:58:40 CST

An expert point of view...here is an article with a link to the letter top economists sent to congress.

"Economists on the Bailout"

As far as we can tell, the biggest bailout blunder is the bailout of the banking system. Those that were evil and duped the American people into a false sense of security should not be bailed out. This issue goes all the way back to March of last year. By April 1st these corporations knew they would go under. What's worse, the Dow gained over 300 points that day because Lehman Brothers Co. cashed in $4 Billion dollars from Convertible Preferred Shares. That alone should make you want to get in your car with your last $100 and stand outside congress until they repeal this colossal waste of money.

This bailout plan will have lasting consequences. Do you want to be broke in 10 years? The economists are doing what they can to stop this but they are few and we are many. BE THEIR VOICES AMERICA...GET YOUR MONEY BACK FROM THE GREEDY!

Articles on Economic Crisis

Economists on the Bailout

The Deep Roots of the Financial Crisis

Bush Changes Course on Intervention

Check out our time-line detailing events leading up to the fatal

sub-prime housing bust.

Get Involved

etharmon — Mon, 08 Dec 2008 18:53:31 CST

Together We Can	Save the US Economy
Click the "Join Us" button in the top left corner of this page.	Contact Your Representatives!
This button was made with a purple background, white writing, 50% transparent Red layer and a 50% transparent Blue layer. We must see the Economy in this way. Help us hold Both sides accountable! Click the Button!	Add to it Edit it Start a Thread Sign it

The AIG Complex

etharmon — Tue, 02 Dec 2008 01:59:22 CST

Definitions:
1. The principle of giving senior management, executives and board members excessive compensations and bonuses even when they have proven themselves to be incompetent in performing their jobs.

2. The planning of extravagant incentive retreats for incompetent management and executives.

3. A state of economic denial whereby an entity believes that the cause of its fiscal failure is not due to the actions and/or lack of actions by its senior management in ensuring that the investment practices of the institution are based on sound economic practice.

Origins:
The origin of the AIG Complex is debatable. However it is factual to state that the American Insurance Group (AIG) did not invent the complex. The AIG Complex is a direct result of the systematic deregulation of the financial markets that started during the Reagan era.

Congressional Hearings

etharmon — Mon, 01 Dec 2008 23:25:40 CST

These clips are embedded in this page courtesy of C-SPAN. Please visit C-SPAN Video Library for more videos of congressional hearings.

We embedded these videos because of their relevance to our discussion and to illustrate the point we are engaged in presenting to our fellow citizens.

Our lawmakers need our help to make intelligent decisions, backed with the knowledge that we understand the issues and are making our point of view known to them. View these videos before signing the petition.

Thanks.

AIG Bailout Oversight Hearing, Panel 1

AIG Bailout Oversight Hearing, Panel 2

Role of Derivatives in Current Financial Crisis
October 14, 2008

This hearing explores the reasons behind the current financial crises. It touches on the subject of mismanagement by the executives and the part that aggressive compensation structures has to play in the crises.

How the Economic Crisis Began

etharmon — Mon, 01 Dec 2008 23:11:48 CST

Two words: Deregulation and Greed. Trickle down economics is like Communism, it looks good on paper. The problem is the structure is based on the premise the top will "trickle" the money down. This video explains how ramped deregulation in the 1990's and 2000's set the stage for the largest embezzlement scheme in American History. Before we can fix this mess, we have to accept that we have allowed Wall Street, K Street, international markets, and Washington to trade debt in excess of $50 Trillion Dollars!
I don't know about you but I can not wrap my
head around that number. As distasteful as it is,
we have got to make sure the new Administration
holds those responsible for this mess
accountable.

There is a down side to accountability, we may
have to hold new elections. We only post
information we cannot dispute through research.
We encourage you to try and prove us wrong. No
one wants to know they have been manipulated
on such a massive scale.

Check out this video for more details on this World Wide Financial Crisis!

Warnings were given left and right from academia. Why were we not listening? Or were we simply not looking? Have you stumbled across any "warning articles?" If so, add them to the page using the EasyEdit bar in the top left corner or start a thread.

Wendell Cox does a great job explaining the Macro and Micro economics involved in this crisis.

Take Charge of Your Future Today! Click on the Link Below!

Economic Stabilization

etharmon — Mon, 01 Dec 2008 19:55:30 CST

Definitions:
Activities that are introduced into an economy by Government to (1) stop the downward spiral of the economy (2) make resources available to financial institutions in order to restore confidence in the financial markets and (3) make resources available to grass roots small business to have access to funds so they can implement programs and projects that create employment opportunities for citizens.

An Economic Stimulant is not the infusion of funds into financial institutions that have demonstrated their inherent inability to produce and to be economically viable. Giving money to such institutions is economic suicide.

The Features of a Good Economic Stabilization Package:
We believe that any good economic stabilization package should focus on the following:

A grass roots, ground up approach to empowering the country. Small businesses are the mainstay of American business. The focus ought to be on encouraging small businesses to grow.
Accountability. Recipients of the funds that are made available by any economic stabilization act must be held to the highest levels of accountability. This is after all money that belongs to the people of the United States of America. No entity investing in a company would give such a company carte blanche to do whatever. The people, as investors in these corporations have the same rights and privileges as any other investor would.
Rigid monitoring and management tools. Companies receiving funds should be mandated to comply to extremely rigid management tools. We need to protect our investments. Therefore, business as usual cannot be allowed to rule in this case.
Benefits to the people. A portion of the funds should be made available as loans to individuals, with rigid application procedures.
All funds are to be considered as low interest loans payable back within stipulated time frames.
CEO salaries (including, but not limited to bonus packages, dividends, and compensation) can not exceed 25% for each source of CEO income. This will allow companies to reinvest the difference in worker salaries, health care, research and development, and help ensure economic stabilization of the companies.

Read our amendment to the Emergency Economic Stabilization Act.

Amendment To HR 1424

etharmon — Mon, 01 Dec 2008 19:54:34 CST

READ OUR PROPOSAL, MASH IT UP, AND START A THREAD BELOW.

FUNDING FOR CAPITAL IMPROVEMENT PROJECTS.

(a) The Secretary shall make funds available for use by businesses for the implementation of capital improvement projects such as:

a. The construction of new establishments

b. The remodeling of existing establishments

c. Infrastructure improvements and re-tooling of existing facilities.

(b) The Secretary shall cause such funds to be administered by the SBA (Small Business Administration), FHA, VA, local bank offices and other qualified Financial Institutions.

(c) The Secretary shall limit the eligibility requirements of such funds to the following criteria:

a. The applicant shall have filed their taxes for the three years preceding the application

b. The applicant shall have paid their taxes as required by the IRS.

c. In the event that the applicant is in default with the IRS, a portion of the loan sufficient to pay their debt to their outstanding taxes shall be deducted from the requested amount.

d. The applicant shall have shown profitability in the three years preceding the application.

e. The applicant shall agree to make their financial records available for audit by persons authorized by the Secretary.

(d) Businesses applying for benefit of Capital Improvement funds shall waive rights to privacy and shall agree to abide by laws governing public institutions, until such a time as their loan is paid in full.

(e) Such funds shall be considered ‘low interest loans’ payable within a stipulated period and at an interest rate predetermined by the Secretary.

SMALL BUSINESS INCENTIVE PROGRAM.

(a) The Small Business Package will simply offer a Tax Credit to Small Business Owners to hire and train employees in addition with the tax credit that is already on the table. The Government will subsidize the wages that will accomplish two things. One it will create Jobs, Two it will make Employers hire Young Americans (Legal Workers) at a moderate wage, to increase Profit and cut Unemployment. This would also work for Major Corporations that are not organized (Union).

(b) A new form of Affirmative Action to include that Government Funded Projects shall hire, trained and credible Americans at a mandatory percentage in relation to documented workers.

(c) Foreign Companies shall be given incentives to do the same.

TAXPAYER ASSISTANCE PROGRAM.

(a) The Secretary shall mandate that financial institutions including but not limited to insurers, banks and brokerage firms to make a portion of the funds that have been distributed to them accessible to individual taxpayers as low interest loans payable within stipulated periods of time.

(b) The Secretary shall determine with advisement from economic experts the percentage of the distributed funds to be made available by each institution.

(c) The Secretary shall establish the guidelines for such loans and shall cause such loans to be monitored closely by governing agencies.

(d) The Secretary shall establish the limits of such loans as follows:

a. Up to $25,000.00 but not to exceed 25% of any individual’s average earning for the three years preceding their application.

b. Such loans shall be collateralized by proof of employment or by other real property that is free of burden.

(e) Such loans shall be payable starting 90 days after funding.

(f) The Secretary shall establish the eligibility for such loans as follows:

a. The individual(s) shall have been gainfully employed for at least one year preceding the date of application.

b. The individual shall have filed their tax returns as required by the IRS for the three years preceding the date of the application.

c. The individual shall provide proof of income by such instruments as determined by the issuing bank.

SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE.

(a) APPLICABILITY.—Any financial institution that sells troubled assets to the Secretary under this Act shall be subject to the executive compensation requirements as follows:

a. The gross total of executive compensation shall not exceed 20% of the institution or businesses net profit for the fiscal period.

b. Distributions of earnings to Board members shall not exceed 20% of net profit

c. Bonuses and incentives to all executives and board members combined shall not exceed 10% of net profit.

d. Gross totals of expenses for corporate incentives and/or retreats shall not exceed 25% of net profits.

DEFINITIONS:

Net profit shall be defines as that portion of a company’s revenue remaining after all operational expenses have been deducted. Such operational expenses include

- Salaries to employees, not including executives

- Compensations to vendors and suppliers

- Cost of operations including utilities, etc

- Costs for advertising and publicity

- Costs for manufacturing or other market driven costs

- Costs for employee benefits

Operational costs or expenses do not include monies spent on

- Retreats

- Travel costs except as specifically related to the performance of job duties or the shipment of products and goods

- Payments to consultants

- Payments to executives such as reimbursables, etc.

(b) Businesses receiving benefit from the Act shall be subject to reorganization with the intent of streamlining operations without laying off employees.

(c) Businesses receiving benefit from the Act shall modify the compensation structure for executives, board members and other senior management personnel as described above. All compensation shall be performance driven.

(d) The Secretary shall order such restructuring should a business fail to modify their compensation structure voluntarily.

DISCLOSURE REQUIREMENTS.

(a) The Secretary shall order institutions that have received bailout funds since October 3, 2008 to comply with full disclosure of the usage of the funds distributed to them as follows:

a. Such institutions shall cause to be published a detailed accounting of the use of the funds distributed to them.

b. Such institutions shall make additional information available to auditors upon request and without delay.

c. Such institutions shall provide detailed reports of executive compensations, bonuses, perks, incentives and other distribution to executives and board members upon request.

d. Such institutions shall make available detailed reports of payments to all consultants, vendors and other stake holders and indirect employees of the institution.

(b) The Secretary shall require that the institution reimburse the Treasury any funds that have been disbursed outside of the approved usage.

(c) In the event that an institution shall fail to comply, the Secretary shall be empowered to cause the sale of the assets of the institutions, including the sale of assets owned directly or indirectly by officers and board members of the institution to reimburse the Treasury.

(d) The Secretary will order the prosecution of individuals miss appropriating or mishandling of funds to the full extent of criminal felon activity.

RESTRUCTURED HOME MORTGAGE PROGRAM.

(a) A Government controlled Loan for restructuring Home Mortgages at 4.5 APR over 40 years fixed.

(b) Qualifications shall not be limited to Credit Scores, but handled in a case-by-case evaluation in regards to the previous 3 years of defaulted adjustable loans.

EXTEND THE PUBLIC SCHOOL SYSTEM.

(a) The Public School System curriculum should be extended to an additional two years, which will include Technical, Vocational, and on-the-job Training. This can be implemented with a Small Business Package.

(b) The Truancy Laws should also extend to 20 years of age along with the Military Combat age to 20 years of age.

(c) The Truancy Laws will not apply to citizens over 18 years of age who are gainfully employed, also in relation to school, military and job related activities.

LIMITATIONS ON REGULATORY AGENCY TO PROTECT THE FREE MARKET SYSTEM.

(a) The Secretary shall ensure that regulatory agencies will not interfere with the functioning of the free market by establishing limitations on their functions as follows:

a. Regulatory agencies shall function solely in the capacity of enforcing ethical and proper codes of conduct by participants in the financial markets.

b. Regulatory agencies shall be entrusted with the function of examining and ratifying any new and untested instruments and shall regulate their usage to prevent abuse.

(b) In no event shall a regulatory agency arbitrarily interfere with the free functioning of the financial markets.
(c) The Secretary shall place the already established agencies such as SBA, FHA, and VA as the Regulatory Agencies.

PETITION WILL BECOME ACTIVE UPON RATIFICATION
OF THIS DOCUMENT BY MEMBERS.

Bailout Package

etharmon — Mon, 01 Dec 2008 19:53:38 CST

The Bailout package is legally known as Public Law 110-343.

	DOWNLOAD THE FILE Public Law 110-343

History:

1. Authored Rep. Patrick Kennedy [D-RI] on March 9, 2007 as H.R. 1424. The original draft consisted of three pages only.

2. Revised after President Bush's proposal was rejected by congress in September 2008.

3. After six revisions of H.R. 1424, the final version was approved by congress and signed into law by President George W. Bush on October 3, 2008. The final version of H.R. 1424 had 433 pages. The ratified version which is referred to as Public Law 110-343 has only 169 pages.

Highlights:

1. Establishes a fund for use to support ailing companies.

2. Recommends guidelines for use of these funds.

3. Empowers the Secretary of the Treasury to manage these funds.

Additional Causes of the Economic Crash

etharmon — Mon, 01 Dec 2008 19:44:05 CST

The US Heath Care system is broken and contributed to the economic downfall of the US economy.	Add Cause of Economic Crash	Discription of Cause
Deregulation has thrived because of the "hear no, see no, speak no" evil of repealing regulation laws.
The flood of forgin surplus funds into the US made money cheep and allowed us to dig ourselves deeper and deeper.
We can no longer afford to use debt as liquidity. If $135,000 has been paid back on a $250,000 loan... $135,000 is the banks Liquidity on that loan.
So far we have not been able to discredit the "modern papal indulgance" organized through Legatus.

The Structure of Capitalism

etharmon — Mon, 01 Dec 2008 11:20:23 CST

Capitalism - A Model For Profitability and Accountability:

The value of Capitalism can never be overstated. Practiced as it was intended to, it creates a free market where all can prosper. When the founding fathers wrote the constitution, they did not envisioned what we have come to consider 'capitalism'. "We the People" have to make it clear that we will NO LONGER tolerate "Super Capitalism."

It is time we aspired for a moral future for our economic enterprises. We need to stand up for companies like Whole Foods and Google. Below I have listed a link that explains what John Mackey has done to create a profitable company while maintaining morality. Right now the majority of fortune 500 companies are getting paid over 400% more than their employees that can't afford to buy a house.

Whole Foods Model

This is a LONG essay by Whole Foods CEO John Mackey but you NEED to read it. At the VERY LEAST read the sections on average CEO pay. It illustrates why these Companies are pure evil. Trickle Down economies only work if the top actually trickles the money!

Capitalism has changed - legislation must change too:

We can no longer afford apply one standard to all business. A chain of Mom and Pop shops is not the same as
AIG. We have to insure separate definitions as well as separate policies for each "stage" of capitalism. Small business greatly benefits from tax breaks. They use this extra money to invest in their company, hire new employees, expand business, etc. Corporations belonging to "super capitalism" tend to use this extra money to benefit the few at the expense of the many. If we are going to allow business to grow this big, we have to ensure those in charge are not able to hoard massive amounts of the companies wealth.

Legatus

etharmon — Mon, 01 Dec 2008 02:54:56 CST

Black Monday: 10-6-08 The Great Financial Market Crash

reinhardt's blogg on the goole finance board predicts the beginning of the end of the economy by studying this Cathlioc Organization. Legatus could eaisly be compared to Opius Dei in 1929.

	Atlas Shrugged Available at Amazon.com Recommended by HotMuscleFun Comment from Amazon.com: Ayn Rand is perhaps the best known and widest read philosopher of the 20th century. If you have any interest in philosophy or economics then this is a must read. Don't fear her teachings. An open mind is a dangerous thing to some people.
	An Austrian Perspective on the History of Economic Thought Available at Amazon.com Recommended by stereoagnostic Editorial Review from Amazon.com In Economic Thought Before Adam Smith, Murray Rothbard traces economic ideas from ancient sources to show that laissez-faire liberalism and economic thought itself began with the scholastics and early Roman, Greek, and canon law. He celebrates Aristotle and Democritus, for example, but loathes Plato and Diogenes. He is kind toward Taoism and Stoicism. He is no fan of Tertullian but very much likes St. Jerome, who defended the merchant class. Now, that takes us only to page 33, just the beginning of a wild ride through the middle ages and renaissance and modern times through 1870.
	Empire By Niall Ferguson Recommended by aenwede Editorial Review from Amazon.com At its peak in the nineteenth century, the British Empire was the largest empire ever known, governing roughly a quarter of the world's population. In Empire, Niall Ferguson explains how "an archipelago of rainy islands... came to rule the world," and examines the costs and consequences, both good and bad, of British imperialism. Though the book's breadth is impressive, it is not intended to be a comprehensive history of the British Empire; rather, Ferguson seeks to glean lessons from this history for future, or present, empires--namely America.
	The Wealth of Nations By Adam Smith Editorial Review from Amazon.com The Wealth of Nations is a treasured classic of political economy. First published in March of 1776, Adam Smith wrote the book to influence a special audience - the British Parliament - and its arguments in the early spring of that year pressed for peace and cooperation with Britain's colonies rather than war. Smith's message was that economic exploitation, through the monopoly trade of empire, stifled wealth-creation in both home and foreign lands.

Economic Reform, Bailout Protest. - Recently Updated Pages

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Monopoly Money Contest

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Recommended Reading

Organize in Your Area

The Federal Reserve

What is the Federal Reserve?

Historical Context

Creation of the Federal Reserve

How the Fed Works

The Fed and National Bankruptcy

Academic Think Tank

Timeline

Historical Background

An expert point of view...here is an article with a link to the letter top economists sent to congress."Economists on the Bailout"

Get Involved

The AIG Complex

Congressional Hearings

How the Economic Crisis Began

Economic Stabilization

Amendment To HR 1424

Bailout Package

Additional Causes of the Economic Crash

The Structure of Capitalism

Legatus

An expert point of view...here is an article with a link to the letter top economists sent to congress.

"Economists on the Bailout"