Hey Barry:
Q: What do you call a con job when a banker does it?
A: Dual Tracking.
That's where a bank sends out a counselor to work with a homewoner on a loan modification while at the same time the foreclosure department is selling the house on the courthouse steps.
If you don't believe me, y'all can read about California Attorney General Kamela Harris here: http://www.sfgate.com/columns/bottomline/
My mind don't work that way and I could not dream that up in a million years.
It's just unspeakable.
Where's the pepper spray?
Your pal,
Tuesday, November 22, 2011
Monday, November 21, 2011
Now, It's Spain
Hey Barry:
This is not a good time.
International bankers depose elected governments in Italy and Greece to impose austerity, the US Super Committee appears unable to make a decision which may collapse US' ability to sell T-Bills and it seems that the European situation faces even another problem: Spain.
Spain may be too big to rescue - AND its government followed the rules.
But, Spaniards borrowed and built houses which drove up its wages. Now the construction boom has collapsed, unemployment has hit 21% and households cannot pay their bills.
It is looking like the only way out is to leave the Eurozone and let the Spanish Central bank bail out the economy. But, the ECB does not want that to happen because it would probably destroy the Eurozone.
read about it here; http://www.bbc.co.uk/news/business-15734280
Holy cow, Barry, the hits just keep on coming.
Your pal,
This is not a good time.
International bankers depose elected governments in Italy and Greece to impose austerity, the US Super Committee appears unable to make a decision which may collapse US' ability to sell T-Bills and it seems that the European situation faces even another problem: Spain.
Spain may be too big to rescue - AND its government followed the rules.
But, Spaniards borrowed and built houses which drove up its wages. Now the construction boom has collapsed, unemployment has hit 21% and households cannot pay their bills.
It is looking like the only way out is to leave the Eurozone and let the Spanish Central bank bail out the economy. But, the ECB does not want that to happen because it would probably destroy the Eurozone.
read about it here; http://www.bbc.co.uk/news/business-15734280
Holy cow, Barry, the hits just keep on coming.
Your pal,
Sunday, November 20, 2011
Corporate Pledge of Allegiance
Hey Barry:
Robert Reich offers a voluntary corporate pledge of allegiance to the United States.
It's a great idea.
Maybe y'all can push it from your bully pulpit.
Here is the pledge:
The Corporate Pledge of Allegiance to the United States
The (fill in the blank) corporation pledges allegiance to the United States of America. To that end:
We pledge to create more jobs in the United States than we create outside the United States, either directly or in our foreign subsidiaries and subcontractors.
We further pledge that no more than 20 percent of our total labor costs will be outsourced abroad.
If we have to lay off American workers at a time when we're profitable, we will give those workers severance payments equal to their weekly wage times the number of months they've worked for us.
We pledge to keep a lid on executive pay so no executive is paid more than 50 times the median pay of American workers. We define "pay" to include salary, bonuses, health benefits, pension benefits, deferred salary, stock options and every other form of compensation.
We pledge to pay at least 30 percent of money earned in the United States in taxes to the United States. We won't shift our money to offshore tax havens and won't use accounting gimmicks to fake how much we earn.
We pledge not to use our money to influence elections.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/19/INJO1LVD3R.DTL#ixzz1eFqxwXBF
Your pal,
Robert Reich offers a voluntary corporate pledge of allegiance to the United States.
It's a great idea.
Maybe y'all can push it from your bully pulpit.
Here is the pledge:
The Corporate Pledge of Allegiance to the United States
The (fill in the blank) corporation pledges allegiance to the United States of America. To that end:
We pledge to create more jobs in the United States than we create outside the United States, either directly or in our foreign subsidiaries and subcontractors.
We further pledge that no more than 20 percent of our total labor costs will be outsourced abroad.
If we have to lay off American workers at a time when we're profitable, we will give those workers severance payments equal to their weekly wage times the number of months they've worked for us.
We pledge to keep a lid on executive pay so no executive is paid more than 50 times the median pay of American workers. We define "pay" to include salary, bonuses, health benefits, pension benefits, deferred salary, stock options and every other form of compensation.
We pledge to pay at least 30 percent of money earned in the United States in taxes to the United States. We won't shift our money to offshore tax havens and won't use accounting gimmicks to fake how much we earn.
We pledge not to use our money to influence elections.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/19/INJO1LVD3R.DTL#ixzz1eFqxwXBF
Your pal,
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