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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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.

Herb Allison,, former president of Merrill  Lynch, is the government appointed head of Fannie Mae.

i have been observing for some time that trading in both Fannie Mae and Freddie Mac should have been suspended because any financial analyst with even a broken pencil could see that both companies were grossly insolvent.

Merrill Lynch, Goldman Sachs, and all the brokers have at least one sharp pencil buried beneath the salesmen, and should have reasonably known of the de facto insolvency. They should have advised their customers that these firms were insolvent.

Trial lawyers, paradise is here!

The potential liability is huge to Merrill Lynch for continuing trading these stocks and permitting their customers to buy them through Merrill Lynch, earning excessive commissions for Merrill. The lower a stock price, the higher the commission as a percent of the trade.

Now the former president of one of the firms who did hundreds of billions of trading in the bad paper is in charge of Fannie Mae?

Is there no Shame?

There certainly is no honor left in American finance ad its regulators.

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