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.
Posted by BlakPac