Tuesday, September 30, 2008

GECKO ON WALL STREET-The SOLUTION




The Gecko's of Wall Street should Pay First BEFORE Congress does any bail-out



Before any Congressional bail-out, something must first take place... not after, BEFORE.

All those responsible for designing and implementing the incentive schemes for sales of Sub Prime Mortgages and for creating an environment for the wholesale dumping of loan packages against securities that did not support value or capacity to repay on default should re-pay all bonuses into the proposed USTreasury Dept.'s Liquidity Bail-OutFund, IMMEDIATELY... I mean all bonuses and profits derived from them post bonus payment.

All the culprits assets should be immediatly frozen no matter where in the world they have secreted their greedy gains away and be re-directed to the Liquidity Fund... hey who knows there might even be surplus that can be directed into health care, education, sustainable transport and greenhouse gas mitigation ...

Oh and in terms of an equitable distribution of liability and tracking the schemes they put in place to create this mess, so they could run away smiling and expect the Feds to prop them up...

(The 700Billion dollars they are calling for now is an obscene abuse of pot calling kettle black.. they are crying (sniff) "we stuffed up so help us keep going so we can keep doing what we have always done, been gready and made people suffer".... NO enough is enough....take the money back from the burrows of the Geckos and their pals, so go after it, get it back)... Well, in this day of electronic records and data storage, all transactions in the past 10 years are trackable, right back to the scheme designers... and thus it is easy peasy to allocate the proportionate liability to those who most benefited and ran...(away leaving the bomb craters)

Congress, first, give the US Federal Justice Department and the FBI some nifty delving work they can get their teeth into...



Go to it Capital Hill, before they spend it all on girls, resorts and cheap thrills in defence contract purchases for foreign governments... its not too late... and then only then, should Congess and other governments around the world think (slowly) about a bail-out...



The greedy have had their day, just like carnivorous practices of big busines's persuit for massive heyday corporate profits and the persuit of executive salary bonuses for failure have had their day...



Congress...don't let the tail pullers wag your body...get on with it and have the guts to go for the creators of this mess NOW not after....their (ummm OUR) money is sitting in their banks now, take it back before you even think about giving them any more!!!






1 comment:

Crowlie said...

Heya Rooman. I'm inclined to agree. Isn't it funny how so many people spoke out against deregulation and the free market and were called communists for their trouble... Now it turns out they were right, but are we going to learn anything from this?