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Posts Tagged ‘bailout’

        How many of you have ever had knowledge of an emergency situation where someone is bleeding profusely?  Emergency training teaches to apply pressure; or, to use a tourniquiet to temporarily stop the blood loss.  It is no different with our financial crisis; yet, apparently in a move that goes against common sense…we are bleeding green…sending more and more money to problematic areas that are already bleeding out.

           What we need is a check and balance here…someone to triage…find out who we can afford to let go on to their great reward.  We can’t save everyone here financially speaking.  So, if we are going to attempt to try to turn the tide with this financial mess…we need to find the most effective way to pump money back into the economy in a way that is going to repair the situation.  Not prolong the agony.  Those companies that would abuse the help provided them should be held accountable.  The governmental leaders who are in charge should be held accountable if they fail to serve honorably; by not keeping track of the ebb and flow of the bailout plan.  It should be considered a crime to fail at accounting for each and every dime of the bailout money that does not produce a positive outcome on the economy.  It would challenge those who benefit from the rescue plan to strictly monitor the use of such money entrusted to them!

         Americans are angry about this whole situation.  They are struggling and there is no safety net waiting for them when they fail financially…so, their expectations of our leaders who are guiding the ship in regards to the bailout, are high.  Those expectations are not currently being met…and Americans have had their fill of leaders and organizations who abuse their power and influence over our society.  The impact of such irresponsible behavior is what has brought us to this place and time in history; it is unacceptable.

         Allegedly, reports have surfaced, twice now, on AIG as having pricey get-to-gethers since they have come knocking on the government’s door begging for bailouts to keep them from filing for a $150 billion dollar bankruptcy.  This is seen by many as an excessive fly- in- your- face disregard for the sacrifices that tax payers are taking on, by dolling out the $40 billion dollars that the treasury has set aside to help put AIG back in black.

          What is madness is that this kind of behavior seems to go without consequences except to the country as a whole.  We are drowning in poor choices, in excesses that failing business expect others to dig them out of.  If a small business owner took on that kind of attitude…there would be nothing but financial ruin in their future…not a reward of an all expense paid trip to a spa on the taxpayers!

           The average American is drowning as well.  There are no individual life rings being tossed to the middle class taxpayer.  We are being hit from all sides by the economy, taxation, educational funding, rising cost of living bills, home heating costs, gasoline, medical costs; and still, more and more people are loosing their jobs or their investments.  Home foreclosure is at an all time high.

           How in the world are taxpayers going to pay more to bailout anyone when they are barely keeping afloat themselves with the drain on their incomes?  If people don’t have jobs, they can’t pay taxes.  Common sense dictates that we examine closely where all of this bailout money is coming from; and, limit those who are benefitting from the rescue money. If some business or organization is not being fiscally responsible they should not then be given a blank check to continue the party.  

        This is not a free for all…We need someone in a position to regulate the flow of green; apply some pressure.  We are living in an unprecedented time of national debt…it just makes sense to be watching our bottom line.  There is nothing wrong with taking a little time to evaluate the situation and make an informed decision about the best way to tackle this mess.   Remember Russia and the collapse of their union?  Are we looking to make history as the next nation to collapse from the inside out?

          

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      I have been thinking about leadership alot lately and it’s direct connection to success or failure.  Leadership whether it is in government, business, organizations, religions, education or, in personal relationships is very important.  Not everyone can be an effective leader.  There are more followers than leaders; so it is extremely important to follow the right person. 

       Whether a leader is skilled in certain areas determines how successful his/her leadership is.  Leading is not for the fainthearted; you can’t please everyone or, be their friend.  Some of the decisions a good leader has to make are extremely unpopular.  You can have productive relationships though, that are built out of respect, authority, compassion and hard work.  Those who are under your leadership have to know that you are informed and that you respect & understand their sacrifice to get the job done. 

        A good leader knows how to inspire, how to instruct, how to encourage, and how to redirect someone who is misguided, ill informed, has a poor work ethic or is saturated in a poor attitude.  A good leader knows when to use incentives and when praise or recognition will be more effective. 

        I know our country is in the midst of some deep and difficult issues.  Positive and productive leadership has never been more important.  A good leader also recognizes when they are out of their league and seeks a higher counsel…someone who is an expert in the area of concern.  I hope that those who are taking the reins of government leadership in our country are willing to lead with proper education and guidance… it is not a failure to admit that you don’t know all of the answers; it is a failure to not be willing to be educated in those areas.  We have much to accomplish and overcome in a short period of time.

        There is a great new book out by Lee Iacocca on leadership called, Where Have All Of The Leaders Gone?  I recommend reading this one.  This book gives some great advice on leading.  It also gives a bit of background information on the automotive business. 

         With the financial crisis hitting our country and the obviously failing auto industry…Lee’s book is timely.  I suggest that the new President elect Barack Obama consult with Mr. Iacocca on any proposed government bailout loan of the auto industry.  There has been some criticism about President Bush’s alleged lack of response to the auto industry’s struggles.  Now, if the American auto industry fails to succeed…we all will suffer the consequences.  I think that we already have been …but, it is only going to get worse without addressing the issue in a real purposeful way.  They are many businesses and employees who will be affected in a trickle down kind of action if and when the auto industry hits the roadblocks. 

        It would be wise to remember that whenever one major industry fails it generally has a domino effect on those sub-supportive businesses that supply the chain of industry.  We need to figure out some answers before we are all out of jobs.  We must demand competent leadership and hold them to a higher moral & ethical standard of conduct.  We are tired of those in business and industry who are content to take the money at the top and move on when they get their rewards…not caring about the outcome for those under their leadership.  Enough of the high salary CEO’s (or politicians) who don’t look long-term at the consequences of their decisions and their actions.  Americans must demand success in our leaders because the potential impact of failure is unacceptable!

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        Breaking news on the bailout…it seems that the House now has enough votes to pass with at least 230 votes.  The bailout plan has already passed in the Senate.  At least 218 are needed to pass the bailout plan in the House of Representatives.  Last week the measure failed to pass the house and there has been alot of uncertainty since that time.   The failure was 13 votes shy of passing at that time.

         If this measure actually takes place and is approved by the house…there is going to be controversy.  If it doesn’t take place there is going to be controversy.   Some say that expensive add ons were added to the bailout to make the idea more appealing to house members.  This idea of adding on to the already very high price tag is something that doesn’t sit well with many voters.  The vote is supposed to take place later today, on the bailout plan.   What i would like to know is what is in the plan; how much is it going to cost me and my family, and how soon will we see changes in the economy?  What happens if this bailout fails to improve the financial condition of the voters in this country?

          Is this bailout a good idea or a bad idea?  What do you think on the whole situation?  What kind of impact is this financial crisis having on your finances and your family situation?

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        Well, the powers that be have failed to pass legislation to authorize the “bailout” of the economy.  Now, we have all been told that something has to happen before the financial meltdown of the economy takes place.  With the failure to pass some kind of resolution, the DOW plunged 777 points as it became increasingly understood that the plan was not going to pass.

         Of course, there is the typical finger pointing on both sides of the aisle…Republican-Democratic each blaming the other.  Get over it, get back to work and get this mess figured out.   We don’t have time for those stupid games that politicians play.   The public is scared, they are angry and they are nervous…this is only going to make the situation worse. 

          The thing of it is..the longer this situation goes on…the worse the situation becomes.  Even those movers and shakers who WERE going to vote for this bailout plan…were saying how awful it was.  You know what that means…none of us are going to like it.  We are going to be hit where we hurt.  Many Americans are already living in the financial equivilancy of a critical care unit. 

           I am imagining it somewhat like a cancer patient who is told…that their disease is going to kill them.  But, aha…there is a treatment for you…it is dangerous, it is painful, it could have serious side-effects that no human being wants to endure…but, maybe, just maybe “You would like to give it a try?”

           What are we to do?   It is time to get back to the drawing board and fix this situation in a way that more House and Senate members can get behind…and soon!   Someone had better get back to work figuring this out…or the election in November is going to take on a whole new significance.  It might just be the election that no-one wants to win; as it could be like being told you get to be the captain of the most elite ship ever built…but, the name of that particular ship is called “The Titanic”.    Who wants to take on that legacy and have their name tied to it for all of eternity? 

          What is going to be the impact of this failure to direct some kind of stability in the financial well being of the United States of America?

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        Titanic, the US economy & rescue boats; what do they have in common?  Much!  Do you remember seeing the pictures of the Titanic ship as she prepared for her maiden voyage?  It was large, it was the ultimate in luxury and it was celebrated as “unsinkable”.  The US economy has sort of lived in luxury even if it has been on “borrowed/credit” monies.  I think many thought the structure of the US economy was unsinkable as well.  We now know differently because of the financial crisis that many have been working so hard to “rescue”.  It is common sense, if you live outside of your means to pay for it…you will loose it all.

          While i think we will probably be saved from the fate of most of the passengers and crew of the Titanic; there are some who will definately suffer.  This morning on the news programs it was announced that the biparisan effort to “fix” the economy has reached a tenative agreement on the way to do that.

           What we need to do is wait to see the methods that are employed in this fix- it solution.  Waiting feels a bit wrong because things are so very important and desperate for many Americans.  There has been suffering already.  Some of the suffers have already been in extreme situations…loosing their homes, filing bankruptsy, working more than one job trying to make ends meet; some have been successful in changing their financial direction and some were not.  Hearing that taxpayers are going to have to fix this problem with more taxes when they are already pushed against the wall is terrifying.  So, some quick explanations of this “bailout”  is very important to calming the fears of the public.

           It is going to be crucial to learn lessons from the Titanic experience.  Even now, knowing that it sunk, knowing that lives were lost…do you think that if the passengers and crew on that ship had each had a bucket and a will to survive that they would not have made the trip up and down the stairs to make an attempt, several times over, to try to bail out the water in the bowels of that ship?  Of course they would have. 

           Had that ship had more lifeboats (rescue boats in our case) would more lives have been saved?  Certainly.  So, What does the Titanic ship and the US economy have in common…they both needed rescuing, they both carried movers and shakers, people had a vested interest in saving them both, lives were and are at stake in both situations.  Can the US economy survive when the Titanic ship did not?  It is possible!

          Let’s pray that the bi-partisan plan has figured in enough rescue boats to save not ONLY the large banking systems, the mortgage companies, the credit card organizations; but, the people at the base of each of those situations…the taxpayers…the recipients of those services.  The little people who are drowning in the flood as we speak need their own rescue ships; or, the overall plan will fail. The future impact of this bailout is not only important to the US but to the global economy as well.

         We must not forget that any of those businesses cannot possibly make a comeback if the little people can NOT afford to make use of those services…and, they can’t do that if they are loosing their jobs, their homes, their families to the high cost of living!  We all want and need to survive…the will to survive is there; if there are enough rescue ships in this plan, we may just be able to keep the ship of the US economy floating long enough to make it healthy again.  We all may be traveling at a lower level than luxury or first class…but, that is alright…at least we will have the chance to recover.  We just have to adjust how we think and make choices in our day to day lives that are within our means to pay for them…what a novel idea!

            

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         What a stinking mess we are living with.  Fear smells up a place…we have a huge financial crisis, a huge political crisis; and, it could be a privotal moment of rescue or a plunge into the abyss and truthfully, the whole thing could go either way!

          Huge meetings are taking place in Washington…panic is like a throbbing headache…it is there making it presence known…threatening to turn into something much worse than a mere pain.  Into the frey, we have a bailout plan that was possibly agreed upon, until some say McCain derailed it with the House Republicans who disagreed strongly with parts of the plan. 

          Throw on top of that…a debate that is scheduled for tonight between Sen. McCain and Sen. Barack Obama.  Battle lines have been drawn, in a somewhat blurry manner.  Sen. Obama says he will definately show up for the debate…McCain says…we should reschedule the debate and focus on this immediate crisis with a plan for the financial stabilization for our country.  Our leaders have been in financial denial too long to let this negatively impact our country any longer.  It is time for commitment to understanding the problem and taking action.

          Who is correct…Obama says the debates are important to help the people understand how the Senators would handle things if they were the chosen one for the Presidential office.  McCain says, these meetings in Washington are critical and that they should be involved in them.  This whole thing is larger than a difference of opinion.  Does it say something very basic about Obama’s nature to hold to the plan for the debate when all of the rest of the country is focussed on this crisis?  Does he feel set apart from it all?  Or is he making a statement by letting the others take the action behind the scenes?  Is he right to stay out of it?  Or should he be more involved? If he doesn’t get involved in the planning of the bailout…will he understand best how to run the country if he should win the election?  Will Obama will the voter’s approval in November for not going to Washington at this time? 

        Is McCain right to be in the middle of things?  Should he be in there fighting for the things to be included or excluded in the bailout plan?  If he wins the election will it help him to run the country by being involved in the planning of the bailout?  Should he back out of it and go do the debate?  Will McCain’s involvement hurt his chances for election in November?  Or will he be seen as trying to make a difference?  Does his involvement help or hurt his chances for election?

          What i don’t understand is why they both can’t be right?  Why can’t the debate be moved to Washington and take place there…while the rest of their time could be focussed on the meetings to keep current on what is happening behind closed doors.  Those meeting are going to not only impact the country in deep and profound ways…but, will also impact whoever does end up in the Presidential position!  This is real, this is so much bigger than either of the candidates and they both need to understand that the American people are going to have their decision made for them by the end of this crisis!

          This is no time for game playing, no time for political mud slinging, no time for experimentation…this country is looking for someone to take the helm of this country and be proactive in guiding the ship to a safer, less rocky course than it is on at this very moment in time. 

          Wall Street is in turmoil, the American tax paying public is in no position to fund a bailout when most of it’s residents are barely surviving as it is.  Banks are collapsing, housing is bottoming out, businesses are busting out all over the place, people’s investments and retirements are in jeparody…this is shaky ground; reminescent of what happened in Russia just a few short years ago. 

          Other countries are getting nervous as well.  Beware of the person who says they have all of the answers…because no one possibly can.  This is uncharted areas of expertise.  The last thing we need is a knee jerk policy…however, we need to start doing some major corrective action or things will not be able to recover. 

           Anyone with half of a brain knows that you don’t make crucial decisions when everything is imploding…because you need to make rational choices.  How in the heck did we get this far gone in this country before the “experts” in the markets and financial infrastructure sent up a red flag or a flare?  Couldn’t they see this coming down the road early enough to start changing the direction of this disaster?

           People’s very quality of life is slipping through the cracks of our governing body.  Something has to be done…but, who knows best?  Who do we trust?  Are we going to waste time having a political showdown between the two very people who could possibly be running the government in less than two or three months?  The sky is falling people…the sky is falling…for real this time; we are not crying wolf when we say…we need an immediate comprehensive plan to stop this country from disappearing into a black hole in the universe!  It is time to pray for the leadership of this country and ask that they be given wisdom in their decision making!!!  update:  Breaking news…McCain now says: he WILL attend the debate this evening in Oxford, Mississippi!

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