Thursday, November 6, 2008

What the President Elect should do now!!!

Dear Squires and Maidens:

The first thing President elect Obama should do to spur business and consumer confidence is to put Hank Paulson and his Minnie Me Neil Kashkari on notice that his diabolical plan to transfer the operations and employees of Goldman Sachs to the United States Treasury Department is over. For those who don't know, Hank's previous employer was Goldman Sachs from 1999 to 2006.
The buyout/bailout plan should be cancelled effective immediately. The Treasury should sell all of the bank and corporate stock in its portfolio and allow true capitalism to prevail. Firms that failed to preserve capital and paid to much in salaries should be allowed to fail or file bankruptcy while healthy companies reap the benefits.
CEO's with foresight and talent will be rewarded while CEO's and Boards that raped and pillaged and destroyed the hand that fed them should loose their companies and jobs.
The second thing President Elect Obama should do is suspend the payment of income taxes to any w2 income earner of $75,000.00 or less and start to work on permanently changing the taxing structure of the Internal Revenue Service
So, what person should replace the tomb raider. None other than Warren Buffet, the Oracle of Omaha.
Warrens ownership of businesses as diverse as furniture stores to Dairy Queen means that he really understands that 70% of American jobs come from companies with fewer than 100 employees and that economic assistance should start with these businesses and end with Wall Street.
King George

3 comments:

Anonymous said...

King George:
When do you start your job in Washington, DC Obama needs you.

Anonymous said...

King George:

It's refreshing to stumble upon someone who agrees with my belief that the recent financial bail out is a bust.

I recall receiving a text message from a young man who had (surprisingly) bought into the hype that the sky was going to fall if Congress didn't approve the bail out plan. I told this young man that for my money (no pun intended) the sky could just fall but that Wall Street did not need bailing out. He replied back "But people won't be able to get credit, businesses won't be able to meet payroll, etc." All the while I'm reading his text and thinking "Wow, and I thought you were smart."

Well, now let's see what's happened since the bail out. AIG executives went on a spa vacation, people are being laid off of jobs left and right, car manufacturers and dealerships are closing down like hotcakes and getting a bank to loan you money is like pulling a eye tooth out of the mouth of a fully awake tiger with no anesthesia!

Anonymous said...

Princess Carmin
Thank you for your comment.
Kng George