Monday, September 22, 2008
Friday, September 19, 2008
For the people by the people
Is this another bizarre scandal against the American people? In 2002 Halliburton was almost broke because of Asbestos claims. We got pushed in to Iraq war by its ex CEO Dick Cheney. Direct cost of this war to us is in excess of 700 Billion dollars, and counting. Not to mention the 4000 young Men and Women, whose lives were traded along with the excess of 30,000 with lost of limbs or a serious life time disability. Now Halliburton is thriving .We got fooled once (to save Halliburton) its shame on them.
Now 6 years later I have this feeling of Déjà vu. Ex-CEO, Henry Paulson, saw his company melting away, like AIG and Lehman just days ago. With 1.1 trillion dollars on the balance sheet and only 44 Billions in equity, it become evident Goldman Sachs is next in line. To save the company, on Tuesday the ex-CEO/Treasury Secretary sprung in to action. He huddled close to our leaders in Washington scaring them into action on Wednesday, just like Dick Chaney scared Representative Dick Armey days before the Iraq war was voted on by congress. I hope congress does not fall into this trap again, spending another trillion dollars of the people’s money, pawning our future away to save a mismanaged company. We the people should demand full disclosure from Mr. Paulson on this issue. We the people should demand near full ownership of this company. Our administration’s economic policy during last weekend, Monday and Tuesday suddenly changed as Goldman got in trouble, suddenly abandoning the concept of accountability. Why should they be treated differently than AIG and Lehman, does having the Treasury Secretary make them special?
We should say no to this new Paulson plan, and insist he does not change his policies. We should continue identifying each highly leveraged company for investors. Goldman Sacs should be treated same way as Bear stern, Lehman and AIG were. Any thing different to bail out investors will drag us into a long recession with a huge tax deficit for next several years just so that that Paulson can protect his 700 million net worth he amassed working at Goldman.
Before the government is fooled into buying even a dollar of junk investment by this Wall Street firm, they should be forced to hand over 99% of their stocks to the government. I suggest they issue 300 Million new stocks with 99% ownership and issue one stock for every citizen of this country, as we the Taxpayers will be the new stakeholders as we pull them out of the mess they created. Otherwise we the people will be left with all of the liability, and who will bailout taxpayers? China? Saudi Arabia? People who don’t have our best interests at heart? This is the Change we the people deserve.
Jayesh Gosai, MD
Sager Gosai
Jefferson, Greene County Pennsylvania.
http://en.wikipedia.org/wiki/Henry_Paulson
http://www.time.com/time/arts/article/0,8599,1841755,00.html
http://voices.washingtonpost.com/washingtonpostinvestigations/2008/09/cheney_misled_gop_leaders_new.html
Now 6 years later I have this feeling of Déjà vu. Ex-CEO, Henry Paulson, saw his company melting away, like AIG and Lehman just days ago. With 1.1 trillion dollars on the balance sheet and only 44 Billions in equity, it become evident Goldman Sachs is next in line. To save the company, on Tuesday the ex-CEO/Treasury Secretary sprung in to action. He huddled close to our leaders in Washington scaring them into action on Wednesday, just like Dick Chaney scared Representative Dick Armey days before the Iraq war was voted on by congress. I hope congress does not fall into this trap again, spending another trillion dollars of the people’s money, pawning our future away to save a mismanaged company. We the people should demand full disclosure from Mr. Paulson on this issue. We the people should demand near full ownership of this company. Our administration’s economic policy during last weekend, Monday and Tuesday suddenly changed as Goldman got in trouble, suddenly abandoning the concept of accountability. Why should they be treated differently than AIG and Lehman, does having the Treasury Secretary make them special?
We should say no to this new Paulson plan, and insist he does not change his policies. We should continue identifying each highly leveraged company for investors. Goldman Sacs should be treated same way as Bear stern, Lehman and AIG were. Any thing different to bail out investors will drag us into a long recession with a huge tax deficit for next several years just so that that Paulson can protect his 700 million net worth he amassed working at Goldman.
Before the government is fooled into buying even a dollar of junk investment by this Wall Street firm, they should be forced to hand over 99% of their stocks to the government. I suggest they issue 300 Million new stocks with 99% ownership and issue one stock for every citizen of this country, as we the Taxpayers will be the new stakeholders as we pull them out of the mess they created. Otherwise we the people will be left with all of the liability, and who will bailout taxpayers? China? Saudi Arabia? People who don’t have our best interests at heart? This is the Change we the people deserve.
Jayesh Gosai, MD
Sager Gosai
Jefferson, Greene County Pennsylvania.
http://en.wikipedia.org/wiki/Henry_Paulson
http://www.time.com/time/arts/article/0,8599,1841755,00.html
http://voices.washingtonpost.com/washingtonpostinvestigations/2008/09/cheney_misled_gop_leaders_new.html
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