Tax the Hell Out of Wall Street; Give it to Main Street

Tax every single share of stock that is bought and sold 10 cents per transaction. One dime. If you buy a share of stock, your brokerage pays a 10c tax. If you sell a share, your brokerage pays a 10c tax. 1 share, 100 million shares. Its 10 cents per share. Of course the tax…

The Stock Market is not a Barometer W Out Short Sellers

What the stock market does today or any day until short selling is restored, will tell us NOTHING. The pundits are going on CNBC, Fox, Fox Business, Bloomberg, etc and trying to give us some historic reference and relevance of the big declines in the market yesterday. They are comparing apples to oranges. Without short…

The BailOut Question That Must Be Asked Before Passage

Sec Paulson has asked for authority to spend what he needs to save our financial, and possibly the world’s financial system. There is only one problem. Sec Paulson may not be in charge of the Treasury for that much longer. So in essence we are giving carte blance spending authority to some unidentified person. If…

The Botox Bailout Q&A

No question the bailout is necessary. We need the liquidity. But just like Botox, the impact of the Bailout will wear off very quickly. Its lipstick on bank balance sheets. The biggest mistake any taxpayer, shareholder or employee can make is to the think the Bailout solves the crisis. It doesn’t. So Post Bailout what…

My BailOut Solution – I’m In For At Least $50mm

As you can tell by the number of the posts on this subject, I think we are in a very serious financial situation in this country. It’s bad for everyone and like many others while I think the Bailout is necessary, I would prefer any solution that doesn’t involve the government. Unfortunately, I don’t think…

The Bailout: The Myth, The Legend, The BestSeller

If enough people talk about it, it must be important, right ? Well the Bailout is important. It can provide needed liquidity into financial markets. Unfortunately, it is now more important than it ever should have been because THE BAILOUT has passed from being a financial response by the Treasury, which it would have been…

Why McCain Was Right to Postpone His Campaign

One candidate thinks he can add value to solving the greatest financial crisis since the Great Depression. The other candidate thinks he can’t add value and that its a better idea to campaign. Here is the question I would ask the Senator: “How is it Senator Obama, that with Wall Street burning, you thought it…

After the BailOut – Can the Bankers Who Caused the Mess Fix It ?

The bailout is a given. Its needed to introduce liquidity into the system. I wonder why no one is defining what happens after the 700B of mortgage and other assets are purchased by the Fed. Has everyone forgotten that we didnt trade in last year’s bankers for a new team. The bankers that we hope…

My Presidential Endorsement – P2

This is what I wrote in my Presidential Endorsement Post: In the meantime, because the economic future of this country depends on the funding of the plan Secretary Paulsen has proposed, I will set aside my campaigning and work with my colleagues in the Senate and across my party to quickly get this bill passed….

The Bailout Alternative: Virtual Mark to Market

According to some pundits, the simplest solution to our economic crisis is to suspend or abolish the mark to market accounting rules. For those unfamiliar. Mark to market is where a company reprices their assets on a daily basis to the most recent market transaction price. If asset prices are falling, this means that the…