Monday, September 29, 2008

The big bail out.

Brokerage firms in the U.S. are regulated by the securities and exchange commision and your securities held by the brokerage companies are supposed to be held sepperatly from assete of the brokerage firm so if the brokerage firm becomes insolvent you would not loose your investments held by the brokerage firm, That being the case I dont see why the government should bail out the brokerage firms that got themselves into trouble. If they are not conforming with the regulations the company managers and directors should be in jail.And if they managed the company so badly as to put it into bankrupsy they should not recieve any compensation. I understand the execatives of some of these companies that the government is being asked to bail out are walking away with millions of dollars in fact as high as 140 million dollars.That is A major crime. These execatives that put the company in this condition that the government has to bail it out should not recieve any compensation,They should be investigated to see if any crimes were commited and forced to work for the minimum wage till the government (thats us) is fully reimbursed.What we need in this country is more jobs so we need to do something to create more jobs,Presently we are priced out of the world markets so all of our jobs have gone to other countries where people work for A fraction of our minimum wage.If people worked for one half the wages they are getting now our cost of living would cost us one half of what it dose now and we could enjoy the same way of life we have now.and then if we raised the personal income tax one percent on every 100000.00 after the first 250000.00 we could put the country on A paying basis and the people in the lower income bracket would have to pay less taxes. With our present tax system we are creating A class of multi millioairs at the expense of the general public, And dont fall for the flat tax or the 22 pecent national sales tax ,That would benefit the rich even more then our present tax system. My opinion by John Zilverberg

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