"Time for a Change"
Living Up to the Words
by James Yates Jr.

(CFN-February-2009) - With the 2008 Presidential election now behind us, America has undertaken one of it's most difficult task of finding daylight from under one of the worse financial meltdowns in it's history. Solving the current financial crisis under a model of "change" has made the 44th President of these United States, Barack Hussein Obama a world famous man. Now it is time to prove it, or let down hundreds of thousands of Americans that have faith in you and our system of government. Many of these voters are having faith for the first time; others, because of Obama, have renewed their faith based on his message of "change.”

Just this weekend U.S. Democratic Senator Claire McCaskill of Missouri described Wall Street executives as idiots: all because they paid their top level executives and others billions of dollars in bonuses before, during, and after receiving billions of dollars in bailout monies from the taxpayers. Former President Bush and the United States Congress approved these funds. Former President Bush, Secretary of the Treasury Paulson, and Congress all agreed that we had to rush and get these billions of dollars into the hands of Wall Street without any real oversight and guarantees that the monies would be used as Congress planned. Therefore, I ask you, “Who are the idiots?”

Now we want to limit the compensation of these executives if they are to receive, or have received taxpayer's monies. In addition to this, their political contributions should be frozen as well. Yes frozen! They should not be allowed to spend our taxpayer’s dollars on any political activity! These strapped for cash companies should not be allowed to make political contributions to any elected politician, member of the U.S. House of Representatives, or any member of the U.S. Senate. This would be an even greater abuse and shameful misuse of the public's funds and of the public’s trust.

Why create a cycle of funding back to the lawmakers whose very job it is to look out for the greater good of American citizens. These lawmakers are instrumental in getting approved billions in bailouts for these companies. Why should these very companies be allowed to give a portion back to our elected officials in the form of campaign contributions and other political donations?

And let’s not stop here, CFN suggests that congressional legislation be drafted immediately that will prevent our locally, state and nationally elected politicians from accepting one penny of funding derived from any company that has received or may be receiving taxpayer's dollars. Not just bailout funds, but taxpayer’s dollars period. Until such dollars are paid back to the taxpayers in full, our elected officials should not be allowed to legally accept any funds from these companies. Anything short of such legislation is essentially allowing the flow of taxpayer dollars from these big corporations directly into the pockets of our elected officials.

Keeping he poor poorer and the richest richer

What is clearly a policy of keeping the poor poorer and the rich richer has never been so clear as it is today. Many Seniors are well aware of the requirements needed in order to receive Medi-Cal benefits, for example in Los Angeles County California. Seniors must NOT have assets in excess of X number of dollars. Most times, seniors have to sell property and empty bank accounts in order to receive Medi-Cal benefits. As a matter of life and death, many seniors deem this “spending down” of assets a necessity in order to receive medical care.

In comparison, when the big 3 showed up in Washington to ask for billions in assistance back in December 2008, they came as fat cats, in private jets and limousines, and there was no spending down prior to asking for billions from taxpayers. Moreover, yes, Congress approved their funding request. Sending the signal that in order to qualify for taxpayer assistance you simply need to make a plea to Congress.

How much easier does it get companies to qualify and receive the hard earned dollars of American taxpayers? And did you see the flood of request that came in from companies requesting TARP (Trouble Assets Relief Program) funds? Wow! What a feeding frenzy!

read more...

 

 

*Disclaimer: All views and opinions expressed within this website are not necessarily the views and opinions of CommonFolkNews™

About Us | Homepage | Op Eds | Education | Features | Finances | Hispanics in Memphis | LifeStyles | Douglass High
City Hall | Memphis Music | Poetry | Politics | RealEstate | RedRennie | Shelby County | Contact Us | Privacy Policy

web design by: ©1998-2009 Yappics Graphic Design & Publishing™ All rights reserved
last updated: February 18, 2010

email the editor for additional information