Keeping People In Their Homes, Continued

Submitted by Simon Rosenberg on 9/19/08

$1 trillion bailout. Government takeover off some of the largest companies in America. Warnings of more bad news to come.

It is critical that as part of this emerging financial bailout package, our Congress ensures that Americans facing foreclosure are also bailed out and allowed to stay in their homes. This is not only the right thing to do, but as Rob Shapiro argued earlier this week, it is one of the best ways to stop the carnage on Wall Street.

Update, Sat 7:15am - Joe Nocera of the New York Times takes a hard look at the emerging financial bailout plan, and doesn't find much to like.

After the fiscal mismanagement of the Bush era, are the American people really being asked to spend a trillion dollars bailing out failed financial institutions controlled by very rich people? Will this rush to bailout prevent the next Administration from making critical investments needed to advance the national interest - in traditional and clean infrastructure, in our schools and teachers, in the skills of our workers, in health care, in reforming our immigration system, in securing our homeland? Will the next era of American politics be one of cleaning up the two great messes of the Bush age - Iraq and our financial and fiscal disasters? And not about embracing a new era of investment, of opportunity and 21st century prosperity? Of dreams deferred and sights lowered?

The failure of conservative government in the Bush-DeLay-Abramoff era has been so epic, so profound and so terribly costly to the national interest and the American people themselves. Bush and his team have been very much like a political hurricane, leaving behind unimaginable wreckage in their wake. Perhaps it will be Katrina that becomes the symbol of this failed conservative era, the image that will be evoked in our collective minds eye for generations to come.

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deduction...

Submitted by Angie K on 3/16/09.

Many people believe that the bailout package proposed by Bush created huge hole where economy drowned deeper. However, the tax credit, which has been a hot controversy in the country, is a form of state benefits. With tax season upon us, a lot of people are looking into what they can get tax credits for. In US tax systems, a tax credit is credit of partial payment already made towards taxes due. Tax credits are some people’s ticket to a refund. Paying the IRS more money than you already have to pay, especially when it seems the government doesn’t know what to do with the money they've given them, is frustrating. Thankfully there are some new deductions you can take this year. You can deduct investment losses (up to a certain point), any funds spent on a job search, and some new credits if you (and your spouse, if that applies) make under $150,000. If you do the appropriate research, you’d be surprised what you can get tax credits for.

STANLEY HOWARD

Submitted by StanleyHowardSc... on 9/20/08.

STANLEY HOWARD SCHWARTZ
Chaplain (MAJ) US Army, Retired
Daytona Beach, FL 32119-1464

The lack of prosecution of financial criminals/CEOs

Submitted by StanleyHowardSc... on 9/20/08.

My concern about the new Federal Czars of Securities and Exchanges and of the Treasury is that nobody talks about prosecution of the fraud and those who perpetrated it. Has anyone indicted the executives of Countrywide Mortgage or of any othe rmortgage institution? HAs anyone thought that it was time ofr a special investigation of the CEOs of major banks? Has our Congress been bought by finanacial institution CEOs that no special prosecutor ahs been appointed by either house of our Congress?

All the plans for programs to boost the economy and its finanacial institutions omit any reference to crimes, to the eed for an investigation, and prosecution!

Is it unreasonable for a theif to repay what he steals? I DON'T THINK SO!
Why should it be unreasonable for CEOs and top executives of institutions which defrauded the US to reimburse the damaged institutions with their personal assets. In fact, I would advocated dhat all their assets be frozen until they are brought to trial and found guilty or or innocent. And if they are convicted of fraud or any other charges, that the IRS take all their assets as they would for thought who violate IRS rules and that those assets then go into the new agency to pay off loans and purchases by Federal agencies to re-establish a sound economy. The criinals and their families can watch their homes foreclosed as so many victims of their crimes have! Oh yes, I know, "They are innocent until proven guilty!" But that assumption does not mean that the Feds shouldn't freeze their assests until the trails are over.

STANLEY HOWARD SCHWARTZ
Chaplain (MAJ) US Army, Retired
Daytona Beach, FL 32119-1464