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PhilipTaylor
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15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
A powerful side effect will be the focusing on:
1. The size of the problem as it is estimated that 1 in 5 homes may face foreclosure
2. What Bank write-downs or write-offs are needed
3. How much of the loss of asset value is due to depreciation of the underlying asset and how much is due to the excessive fees the Banks and others charged that went to the Banks bottom line or to pay executives.
4. To help understand the need for regulations
5. To inform Congress and Americans as to the extent of the problems.
Congress and TARP are working in a black box with no facts so the GAO must require all banks to respond withing two weeks in a digital format and media they define, such as a memory stick. Any bank refusing to respond will receive no further BAILOUTS and will be subject to future GAO investigation.
I think this can be fully justified within the current TARP rules as part of the Oversight!
15 years ago @ Change.gov - Business Roundtable | ... · 1 reply · +1 points
TARP, Congress, Banks, and Americans are WORKING IN the DARK without INFORMATION!
Government Accouting Office, GAO, must find out exactly the condition of all the Banks' (including AIG) OWNED Derivatives and other instruments. Currently each BANKS' Instrument assets have not been scrutinized and no efforts to identify market values, yet Paulson and Kashkari are throwing Hundreds of Billions at the BANKS.
BANKS are unwilling to write-down these assets and the GAO must be able to find out the facts so proper TARP ALLOCATIONS and Instrument Adjustments can be made. At this point TARP is throwing money at BANKS without knowledge of the banks' True Market Value of their Instruments.
Funding the GAO, at $250 million to start, to computerize every Banks' Derivatives and instruments, the Bank holding the instrument, the instruments' underlying assets, underlying market value, and other important facts into a single database. Many Banks will have computerized information which can be captured easily while others may require more work.
This is not “ROCKET SCIENCE” and must be done to bring BANKS into FOCUS so any Future TARP funds are allocated wisely.
See Part 2
15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
The BANKERS refuse to take the write-downs to keep Investors thinking they LOOK BETTER THAN THEY ACTUALLY ARE! More "FAKING IT" by Wall Street.
We must force Write-Downs by the BANKS using MASSIVE Automatic Refinancing and Principal Reductions of all Loans Near Foreclosure, applying the exact same rules across the board including Low Fixed Interest rates.
If some homeowners can still not make the payments then nothing has been LOST and we have the write-downs off the Banks' Books (it could involve many lenders). Also, the home was in Foreclosure and simply remains in Foreclosure so no HARM DONE.
For those homeowners saved this is a NEW START and they will have discretionary income month after month to expand the Economy.
The BANKS' Books are cleaned up and the TRUTH SHOWS UP FOR INVESTORS!
15 years ago @ Change.gov - The Green Group | Chan... · 1 reply · +2 points
I agree with the idea of keeping costs down. However, we are in a vicious cycle of high gas prices and then low and back to high. This has killed the incentive for road worthy high mileage vehicles. Also, the funding to build them is another concern and the Monthly adjusted variable tax on Oil could provide these funds while stabilizing prices which can hurt the same people we want to help during the summer months.
Sincerely,
Philip E. Taylor, PhDRetired Princeton and University of San Francisco Professor and retired president of asoftware company in California for 33 years.
15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
Redistribution of Wealth to the Already Wealthy!
15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
15 years ago @ Change.gov - The Green Group | Chan... · 2 replies · +6 points
A "Monthly Adjusted Tax" that keeps the price of gas at or near the same price at the pump, say $1.99 or higher. This can keeps GAS price high enough to encourage Green Cars, Conservation and Innovation!
Conservation Reduces Oil Consumption and can also keep the price of OIL low!
OPEC does not have as much Pricing Control because for many countries OIL is their only source of income.
Obama can help stabilize the price of oil Year Round using a Monthly Adjusted Variable Tax!
Keeping Gas prices stable allows for Green Energy Planning and will Reduce the SWINGS in Summer Driving Costs and Reduce OIL manipulations by the BANKS, HEDGE FUNDS, and TRADERS.
The Tax Funds will help offset the development and BUILDING of GREEN ENERGY and NON-OIL/Carbon Based Industries. This will help reduce/remove the heavy OIL IMPORT Costs we are financing with China. And it helps reduce Carbon Emissions.
15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
A "Monthly Adjusted Tax" that keeps the price of gas at or near the same price at the pump, say $1.99. This can keep GAS price high enough to encourage GREEN Cars, Conservation, and Innovation.
Conservation Reduces Oil Consumption and can also keep the price of OIL low!
OPEC does not have as much Pricing Control because for many countries OIL is their only source of income.
Obama can help stabilize the price of oil Year Round using a Monthly Adjusted Variable Tax!
Keeping Gas prices stable allows for Green Energy Planning and will Reduce the SWINGS in Summer Driving Costs and Reduce OIL manipulations by the BANKS, HEDGE FUNDS, and TRADERS.
The Tax Funds will help offset the development and BUILDING of GREEN ENERGY and NON-OIL/Carbon Based Industries. This will help reduce/remove the heavy OIL IMPORT Costs we are financing with China. And it helps reduce Carbon Emissions.
15 years ago @ Change.gov - Business Roundtable | ... · 0 replies · +1 points
Just HOW IMPORTANT ARE BIG BANKS IN TODAY's Age of Technology?
All Americans and Small Business should have the benefit of the FED Interest Rate plus 2.5% that the Bankers now access. Government owned Fannie/Freddie can offer Low Fixed Rate Internet Loans with links to databases for verifications so 98% of the process is Automated and FEES are minimal.
Each family could have potential savings in the range from $300 to $2,000 per month which can spur the Economy.
Fannie/Freddie Can Automate Many Banking Functions using Technology:
1. Nearly all Banking functions are definable by a series of mathematical equations linked to databases and linked to customers.
2. Most Bank Functions can be automated via ATMs and the Internet including loans, cash, deposits and even planning.
3. What would be lost? Middle men who charge exorbitant FEES and pay their top 1,000 Executives $10's Million to $100's Million!
With this Government Direct approach all potential corruption can be removed from the loan process and the $350 Billion can serve as the initial loan funds.
15 years ago @ Change.gov - Change.gov: The Obama-... · 0 replies · +1 points
A "Monthly Adjusted Tax" that keeps the price of gas at or near the same price at the pump, say $2.49. This can keeps GAS price high enough to encourage CONSERVATION and Innovation!
Conservation Reduces Oil Consumption and can also keep the price of OIL low!
OPEC does not have as much Pricing Control because for many countries OIL is their only source of income.
Obama can help stabilize the price of oil Year Round using a Monthly Adjusted Variable Tax!
Keeping Gas prices stable allows for Green Energy Planning and will Reduce the SWINGS in Summer Driving Costs and Reduce OIL manipulations by the BANKS, HEDGE FUNDS, and TRADERS.
The Tax Funds will help offset the development and BUILDING of GREEN ENERGY and NON-OIL/Carbon Based Industries. This will help reduce/remove the heavy OIL IMPORT Costs we are financing with China. And it helps reduce Carbon Emissions.
Opus