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Old 10-01-2008, 12:17 PM   #1
Pushy, Loudmouthed, and Ballsy
 
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Please Send This Today.

Dave Ramsey's plan to fix the economy.

Send to your senators and representatives today. The senate may vote for the "bailout" tonight.

I don't want $700 billion or more added to our debt ( after all, isn't all of this a debt problem in the first place?) This makes much more sense and probably won't fly because it does!!!

Quote:
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three steps:

Common Sense Plan.

I. INSURANCE

A. Insure the subprime bonds/mortgages with an underlying FHA-type insurance. Government-insured and backed loans would have an instant market all over the world, creating immediate and needed liquidity.

B. In order for a company to accept the government-backed insurance, they must do two things:

1. Rewrite any mortgage that is more than three months delinquent to a 6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the balance. This brings homeowners current and allows them a chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or the sale of the property to pay off the bad loan. In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance. FHA does this now, and that encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and ruined lives.

2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and executive team members as long as the company holds these government-insured bonds/mortgages. This keeps underperforming executives from being paid when they don’t do their jobs.

C. This backstop will cost less than $50 billion—a small fraction of the current proposal.



II. MARK TO MARKET

A. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.

B. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.



III. CAPITAL GAINS TAX

A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous—and immediate—liquidity in the markets. Again, this costs the taxpayer nothing.

B. This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down. This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.

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Old 10-01-2008, 12:25 PM   #2
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I catch his show now and then, seems like a smart guy with pretty good advice.

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Old 10-01-2008, 12:26 PM   #3
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Quote:
Originally Posted by Dare2BSquare View Post
Dave Ramsey's plan to fix the economy.

Send to your senators and representatives today. The senate may vote for the "bailout" tonight.

I don't want $700 billion or more added to our debt ( after all, isn't all of this a debt problem in the first place?) This makes much more sense and probably won't fly because it does!!!
I head this on Glenn Beck this AM...

I love Dave Ramsey...

We own all his books and CDs I just wish I was more disciplined.


BTW: Sent!

I have my Senators Bookmarked.

I'm sure they hate me!
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Old 10-01-2008, 12:35 PM   #4
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I'm having trouble getting through on the senators and representatives server. Hope it's because everyone else is giving them an "earfull"!!!
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http://i66.photobucket.com/albums/h2...are/TMLogo.gif Are all fishermen liars, or do only liars fish?
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Old 10-01-2008, 12:46 PM   #5
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For Texans

If you wish to contact Senator Hutchison by letter, phone, or fax, you can do so through any of her offices listed below:

SENATOR KAY BAILEY HUTCHISON
284 Russell Senate Office Building
Washington, DC 20510-4304
202-224-5922
202-224-0776 (FAX)
202-224-5903 (TDD)

SENATOR KAY BAILEY HUTCHISON
961 Federal Building
300 East 8th Street
Austin, Texas 78701
512-916-5834
512-916-5839 (FAX)

SENATOR KAY BAILEY HUTCHISON
10440 N. Central Expressway
Suite 1160
Dallas, Texas 75231
214-361-3500
214-361-3502 (FAX)

SENATOR KAY BAILEY HUTCHISON
1919 Smith Street
Suite 800
Houston, Texas 77002
713-653-3456
713-209-3459 (FAX)

SENATOR KAY BAILEY HUTCHISON
145 Duncan Drive
Suite 120
San Antonio, Texas 78226
210-340-2885
210-349-6753 (FAX)

SENATOR KAY BAILEY HUTCHISON
500 Chestnut Street
Suite 1570
Abilene, Texas 79602
325-676-2839
325-676-2937 (FAX)

SENATOR KAY BAILEY HUTCHISON
1906 G East Tyler St

Harlingen, Texas 78550
956-425-2253
956-412-1468 (FAX)
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Greg Machado
greg@jeeptales.com
Jeep Tales Founder
www.jeeptales.com

210.383.4734
I’m not an Off-Road Enthusiast…
It’s just that I’m Pavement Impaired.

http://www.jpfreek.com/web/grille.jpg
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Old 10-01-2008, 12:50 PM   #6
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Sen. John Cornyn, Texas

Washington DC
517 Hart Senate Office Bldg.
Washington, DC 20510
Main: 202-224-2934
Fax: 202-228-2856


Southeast Texas
5300 Memorial Drive
Suite 980
Houston, TX 77007
Main: 713-572-3337
Fax: 713-572-3777

South Texas
222 East Van Buren
Suite 404
Harlingen, TX 78550
Main: 956-423-0162
Fax: 956-423-0193

West Texas
3405 22nd Street
Suite 203
Lubbock, TX 79410
Main: 806-472-7533
Fax: 806-472-7536

South Central Texas
600 Navarro
Suite 210
San Antonio, TX 78205
Main: 210-224-7485
Fax: 210-224-8569

Central Texas
Chase Tower
221 West Sixth Street
Suite 1530
Austin, TX 78701
Main: 512-469-6034
Fax: 512-469-6020

East Texas
First Place
100 E. Ferguson Street, Suite 1004
Tyler, TX 75702
Main: 903-593-0902
Fax: 903-593-0920


North Texas
Occidental Tower
5005 LBJ Freeway, Suite 1150
Dallas, TX 75244
Main: 972-239-1310
Fax: 972-239-2110
__________________
See you on the trail again soon,
Greg
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Greg Machado
greg@jeeptales.com
Jeep Tales Founder
www.jeeptales.com

210.383.4734
I’m not an Off-Road Enthusiast…
It’s just that I’m Pavement Impaired.

http://www.jpfreek.com/web/grille.jpg
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Old 10-01-2008, 12:54 PM   #7
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WOW that was fast!

Dear Gregory Machado,

Thank you for contacting my offices. Your correspondence has been received, and we will respond to you as quickly as possible. A copy of your message is attached below for your records.

If you need immediate assistance regarding an urgent problem you are experiencing with the federal government, visit the "Help With Federal Agencies" section of the website for details on how to proceed so that your difficulties are brought to my attention as soon as possible.

If you are seeking information or services from my offices that are NOT related to my Legislative duties, please visit my "Services For Texans" section for more information.

Warmest Regards,
U.S. Senator John Cornyn
__________________
See you on the trail again soon,
Greg
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Greg Machado
greg@jeeptales.com
Jeep Tales Founder
www.jeeptales.com

210.383.4734
I’m not an Off-Road Enthusiast…
It’s just that I’m Pavement Impaired.

http://www.jpfreek.com/web/grille.jpg
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Old 10-01-2008, 02:48 PM   #8
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Any of you watch CSpan today.

Oh my, the hubris of these people. They are blaming everything on the bankers and are telling each other how everyone has the right to be angry.

WAKE UP!!! It happened on YOUR watch. We are just as angry at YOU as we are the banks!!!
__________________
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d30/C8.25
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http://i66.photobucket.com/albums/h2...are/TMLogo.gif Are all fishermen liars, or do only liars fish?
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Old 10-01-2008, 03:05 PM   #9
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Tom Coburn from Oklahoma.

You go boy!!!

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