September 30, 2008
NO $700BILLION!!! NO MONEY TO FUEL GRAFT AND CORRUPTION!!!! THIS IS WHAT WE INSIST ON INSTEAD OF THE BAILOUT BILL:
(1) suspending immediately mark to market provisions (the accounting practice of valuing a financial position in an investment at its current market price) in the hopes of stopping the downward spiral in asset values and eventually replacing it with a three year rolling average;
(2) repealing immediately Sarbanes-Oxley, the 2002 accounting law Gingrich described as “an enormous drag on small business”;
(3) setting the capital gains tax rate at zero “matching the Chinese and Singapore” (to encourage private capital to flood into the market picking up properties without the taxpayers being at risk);
(4) passing an “extraordinarily powerful” energy bill (”to return $500 billion a year to the American economy that are currently going overseas”).”
5) Reinstate the Uptick Rule the SEC took out July 6, 2007.
6) Reinstate the Program Trading Curbs the SEC allowed the NYSE to take out November 2, 2007.
7) Make the ban on Naked Short Selling permanent.
8) Reverse the 2004 SEC ruling allowing investment banking firms and allow no more than a 10 to 1 leverage ratio (Lehman was using 30 to 1).
9) Make all home buyers put at least 10% down before qualifying for a home loan.
YOU ARE NOT ELECTED --- BUT YOU ARE NOT IMMUNE FROM THE ANGER AND FRUSTRATION OF THE ELECTORATE. WE WILL CONTINUE TO SHOUT UNTIL WE ARE HEARD!!!