Merrill Lynch, which got bought out by Bank of America, gave it's executives $3.6 billion in bonuses, despite suffering unprecedented losses. Government is impotent to do anything but hand out public money in bailout packages, which ends up as bonuses for their executives.
The global wealth gap, which has been expanding tremendously in the last 20 years, is showing little signs of diminishing even as the economy slows. In 2008, Goldman Sachs and Morgan Stanley each paid out executive bonuses, at well above four billion dollars, that dwarfed their incomes despite 10 billion dollars in bailout money.
JP Morgan paid out over eight billion dollars in bonuses, also dwarfing earnings, having received 25 billion dollars of bailout money. There is no plans to return any of those bonuses. The European Union and the G20 are trying to come up with sanctions to curb the executive troughs, but so far their efforts have been futile.
In our underground bunkers in the frozen North, our scientists have come to the conclusion that many in the banking and finance and indeed in politics are actually an alien race of lizard like creatures. They seem to have given up the idea of a friendly contact and are pushing for a global economic meltdown as part of their conquest-from-within plan.
Meanwhile, in several countries, the unemployment levels are reaching the thresholds where unemployment insurance will not be able to sustain them. In some cases, jobless are getting notices that their benefits will run out earlier than was previously expected.
 In Canada, the lottery - a long known tax on the poor, is feeling the pinch. The lottery corporation is reporting that sales of tickets are down. People are having to choose between food and the slim hope of winning a jackpot. Perhaps they should have tried a career in investment banking or insurance.
The severity of the recession has led many to thoughts of suicide. For example, sales of the vend-o-death have been climbing steadily.
In one large North American city, the number of suicides by people jumping off a well-known bridge has grown to the point that the city had to step in. People wishing to jump now have to buy a ticket in advance, while at the same time they are provided with a brochure offering counseling services. The fees collected go towards disposal of bodies, in the event that the deceased did not make provisions for themselves.
China has come up with a novel idea. In China more than 40 million farmers survived on 1,196 yuan or less last year, and are not very happy with life. The size of China's poor population could exceed 100 million - that is, at least one out of 13 Chinese still live in poverty, and many of them have thoughts about going to visit their ancestors. Those suicidal people who do not succeed the first time are rounded up and sent to a special kind of clinic, where they are quietly euthanized and their organs are harvested and sold internationally.Wealthy foreigners can order replacement body parts, and possibly live for ever, or until the lizard creatures get to them.
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Bank of America has received over $50 Billion in government funding. With it they purchased companies like Meryl Lynch and Countrywide. Both times they offered their the top executives at both companies unprecedented amounts of money in "exit bonuses". One guy alone received over $386 MILLION dollars. No one said a word.
Did you know that they received this money from our government? TARP, the troubled asset relief program was created to help stimulate the economy by offering big businesses in our country money. No one is saying a word.
Did you know that there is absolutely NO mandate on what these businesses do with their TARP money?
Did you know that Bank of America is now scrutinizing people’s checking accounts to see where they’re spending they’re money…and if they don’t agree with you, they’ll shut your account down? Unilateral decision to shut down access to your finances and you can’t do anything about it.
Did you also know that bank of America is attempting to foreclose on the homes of our soldiers stationed in Iraq? I’m not an attorney but have heard that this is a violation of the Soldiers and Sailors act. And I also know that again, NO ONE is doing anything about it.
I have a client named Sammy. Sammy’s wife died and he inherited his 2 grandchildren. He called bank of America to see if there’s anything they could do for him and they told him to prepare the kids for homelessness because it wasn’t their fault or problem.
I have another client that was rationing out food to her children daily so they could get caught up on their mortgage because the collections department at Bank of America called them and said if she fell behind, they’d all be homeless.
We wouldn’t otherwise say that any of these people or any of you had an argument for wanting them to fix the terms of your mortgage except now that bank of America has received BILIONS dollars to stimulate our economy and are still refusing to help us.
Mr. Obama do you know what WE could have done with this bail out money? You could have given it directly to US by lowering the principals of our homes to the fair market value, guaranteed everyone an interest rate of less than 5% of their mortgage and a guaranteed 30 year conventional loan and you would have spent LESS.
These banks have proven they can’t be trusted with our money.
They have proven that they will do NOTHING in the best interest of the consumers and will only make decisions that HELP put money into their own pockets.
We looked to you for change. Change means nothing if it doesn’t help.
Now we’re asking you for a little accountability and a little equality in the rationing out of government assistance.
Why are there only government bailout programs that force borrowers to go delinquent. Do you know how much it would stimulate the economy and put money into the pockets of lenders if they had programs to help people stay current. AND NOT mandate that they fall behind?
Lets apply commonsense.
Let’s apply change that works! I’m not a democrat or a republican. I’m not a black, white, Asian or Hispanic. I’m not Christian or Muslim. I’m an American, asking my president to help us.
I own the consumer advocacy group. We are applying for our nonprofit status in Nevada. I’m doing my part to help as many homeowners as possible. What are you actually doing for main street that doesn’t directly affect Washington or wall street?
We’re done asking. We’re done waiting. I am planning a homeowners protest and am asking all homeowners to stand with me and say enough is enough.
President Obama. Will you stand with us? 702-478-5369 Call me and let me know