December 3, 2008 by Frank Lynch.

Everyone on the Boards of Directors of Ford, General Motors and Chrysler should have their names engraved on a new national monument to be built next to the Vietnam Wall. The new monument shall be titled “The Capitalist Wall of Shame.” These Directors should be shamed for all eternity, and be banned from serving on the Boards or as Officers of any publicly traded companies.

The auto executives are driving to Washington in Hybrids after being made fools of for flying in luxurious private jets last time they came to loot us taxpayers.

Their latest swindle is to claim they will work for only $1.00 a year in 2009 if they take taxpayer money.

What a nasty joke!!

What they are avoiding is that they are going to pay themselves such horrendously gigantic Christmas bonuses in 2008 that they will not miss a penny next year.

And what about their golden parachutes?

I suggest that we immediately nationalize the Big Three auto companies just to wipe out their golden parachutes and to ensure that nobody, absolutely nobody who works for these corrupt and obsolete companies receives a bonus.

You might say, why should the union members be penalized for the shortcomings of their stupid bosses? Car workers are among the highest paid workers in the world. If they cannot survive without a year end bonus, they need to take online courses in personal financial management, especially since they are going to get permanent pay-cuts, or become unemployed in cities where there are not only no other high paid jobs, but even the burger joints will be closing down because nobody has any money.

Nationalization will save the innocent suppliers from going bankrupt if the auto companies were to go bankrupt, because we would continue to pay suppliers.

The stockholders and the bondholders deserve to be wiped out because they kept voting the incompetent Officers and Directors back in office for thirty years.

The American system of corporate governance is broken and failed. Every year since 1973 all of the Big Three lost market share EVERY YEAR FOR THIRTY FIVE YEARS and the institutions and the public shareholder kept voting these morons back in control. If morons do that for 35 years they deserve to lose thier investment.

And anybody stupid enough to buy and hold stock and bonds of companies that lose market share every year, year in and year out for 35 years deserves to lose their money.

That is the principle of capitalism.

Unfortunately, our brand of capitalism has failed, and we need new ground rules for our companies, including truly democratic ways to oust and replace failing Directors.

Everyone on the Board of Directors of Ford, GM and Chrysler should have their names engraved in granite on a new Wall of Shame Monument to be build next to the Vietnam Wall.

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December 2, 2008 by Frank Lynch.

Ford, General Motors and Chrysler are the only auto companies in the world that are going bankrupt. Autos are a world market and all the other companies around the world are surviving. The American car companies have indisputably the worst management in the world, yet they are the highest paid.

President-Elect Barack Obama must exercise leadership here if his slogan of “Change You Can Believe In” is to have any meaning. Obama must make these demands of the car companies.

Before one penny of tax money goes to the Big Three, the top ten managers in each company must be fired.

It is a full one third of a century since the Muslims started raising the price of oil to punish America for supporting Israel against the Arabs, or at least that is what the leaders of Saudi Arabiaa said in their world wide press releases.

In that third of a century anyone with half a brain knew that oil would become more and more expensive. But half a brain is more than Detroit has.

Earlier this year I saw the head of Ford say that he would not spent any money on plug in cars unless he saw signs there might be a demand for them. The moron said that this year!

Additionally, the entire Board of Directors of the Big Three must resign as condition for a bailout. The Directors have failed to perform their duty to protect the stockholders from incompetent management.

Further, I believe that the stockholders should file derivative class action suits against all the Directors and management of the two publicly traded companies, GM and Ford.

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September 26, 2008 by Frank Lynch.

Historically, every time the Federal Reserve has taken over a bank or savings and loan, the failed institution has been seized by the Fed’s staff arriving at the target institution’s headquarters after the close of business on Friday night, so that the public has the opportunity to adjust to the shock over the weekend, and so that there will not be a run of withdrawals the next morning.

This time, it would appear that the Fed was manipulated by politics regarding the public opposition to the Democratic Congress’ support of Paulson’s $700 billion, no strings attached, gift to his colleagues on Wall Street.

By Thursday afternoon it was clear that the Republicans in Congress had finally decided to listen to the wishes of the voters, and were refusing to go along with the Democratic Finance Chiefs Senators Chris Dodd and detached Barack Obama.

So the Fed attempted to panic the public by taking over Washington Mutual on Thursday night instead of over the weekend.

The Fed is part of the criminal conspiracy seeking to panic the public and the ignorant buffoons in Congress into a fearful stampede or else the world will end!

This is contemptible manipulation of the public through false fear, identical to the strategy of fearful stampede into the second Iraq war.

Thursday’s seizure of Washington Mutual by the Fed is a despicable attempt to use fear and panic to stampede both Congress and the public into a totally wrong and incredibly absurd course of action.

The $700 billion gift to Wall Street makes no sense at all and does nothing to treat the root cause of our problem, which is the permission of the government to financial institutions to bundle mortgages into tradable security packages.

The first step in curing the problem is to outlaw CDO and CMO packages, because they separate accountability from risk, thereby encouraging what should be criminalized activity bu unscrupulous mortgage lenders.

Paulson’s and the Democratic Congress want the bailout package to include “adjusting” individual mortgages downward, not to the new market value of the home, but to what the borrower can afford. Who determines, and by what mechanism, what the borrower can afford.

The adjustment provision goes far beyond socialism: it is pure Communism and abject redistribution of wealth.

No financial system on earth, and no nation, can survive is the government haas the authority to “adjust” individual’s debts.

The bailout package may well be the end of America.

Call your Congressmen and tell them you oppose every aspect of the bailout package.

Current laws and the operation of the Federal Reserve are everything we need for the markets to reach equilibrium. No intervention by government can make the oversupply of housing disappear.

Local governments and pressures within the Democratic Party to seze the foreclosed homes, or to use taxpayer dollars to repo them, and use them for low cost community housing is nothing but the purest form of Marxist Communism that will bankrupt America.

Every elected official who supports the Bush/Chris Dodd/Barack /Obama/Democrats bailout plans should be impeached, AND I mean it.

If you want to impeach everyone who supports the mortgage bailout send a blank email to impeach2008@gmail.com

Then go to these sites and tell your elected officials that you “OPPOSE THE BAILOUT”

http://congressorg.capwiz.com/congressorg/directory/congdir.tt

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September 21, 2008 by Frank Lynch.

In the final destruction of all the wonderful laws passed by a thoughtful Congress and Franklin Delano Roosevelt to protect the American people from the excesses and corruption that caused the Great Depression, your totally incompetent government  taken the final steps to maximize the corruption of our financial system.

The last two major independent investment banking/ stock brokerage houses have now officially become commercial banks.

Don’t believe me? See:

http://federalreserve.gov/newsevents/press/bcreg/20080921a.htm

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September 8, 2008 by Frank Lynch.

Paulson’s bailout of Fannie Mae and Freddie Mac just returned the $376,000,000,000 of their debt owned by the Chi Coms to AAA status, and guaranteed Communist China will collect every penny of principal and interest.

 Isn’t our government great?

Wait for your tax increase to pay for it.

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September 7, 2008 by Frank Lynch.

In previous posts I criticized regulators for not shutting down trading in insolvent stocks like Fannie Mae and Freddie mac.

Watch the details of the takeover of those companies. I guarantee the regulators will not do the right thing and take them over the same way as banks are taken over, by eliminating the common stock completely.

We know 9 percent of m ortgages are bad and Fannie and Freddie only have 3 percent capital so they are insolvent by 300 percent, so the stock is worthless.

Watch the regulators do a takeover sufficiently complex that you and I do not dare buy the stock immediately, yet the Wall Street insiders will know the true value and will get even richer by having access to information that you and I don’t.

Put em all in jail.

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September 3, 2008 by Frank Lynch.

SEE WHY  AT THIS LINK

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September 2, 2008 by Frank Lynch.

The media is ranting into a frenzy that McCain is so stupid that he chose Sara Bara Cuda  without properly vetting her , and was blindsided by her daughter’s pregnancy.

That presumption is a suckers’ trap.

The Republicans are experts at public perception.

The Republican National Committee is exceedingly professional, as proven by their success in winning more Presidential elections than the DNC in my lifetime, which is longer than I care to admit.

Please, nobody attack me accusing me of saying Repulicans take glee in the unfortunate complication of Mrs. Palin’s family. My point is they have the cunning to make use of situations that may not be obvious to their critics.

The more likely scenario has the following hypothetical conversation taking place:

FBI: At age 44 Mrs. Palin elected not to have an abortion, and consciously elected to carry and deliver a baby that she knew had Downs Syndrome.

McCain: We can use that to prove, without ever having to say it, that Republicans practice what they preach, and believe in the Sanctity of Life even when it is hard, incredibly hard.

McCain: And we can have her appear with her daughter holding the disability baby behind Mrs. Palin to (a) show sympathy, (b) show off our belief in Right to Life, and (c) show family unity.

FBI: The problem is her daughter is five months pregnant.

McCain: Is she married?

FBI: No.

McCain: O.K. We definitely will have her hold the baby, and those people with chronic rabies infection will start a rumor that the first baby is the daughters.

Advisor: OOH! That should get us $20 million of free publicity, and infinite sympathy and anger from people who resent attacking a candidate’s family!

McCain: We should let that play out as long as possible for the most free publicity. All the time the chronic rabies crowd are attacking the poor little 17 year old, nobody is talking about Obama. It is like he dropped off the face of the earth. Yippee!

McCain: And later we can slowly, ever so slowly leak out photos and proof that it is Mr. Palin’s baby. The longer we drag it out, the worse the people attacking her will look.

Advisor: Then we can have surrogates, who must be female, appear on the news all day long showing that the 17 year old also believes in the Right to Life, and is doing the right thing by getting married!

McCain: What a fabulous anti-abortion crusade by example, by: “Do as I do, the same as I say!”

Advisor: And best of all, those Democrats will continue to underestimate us.

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