10/13/2008 08:21 PM Bean Counters - I bet they like the bail out plan.
As a result of several years growing businesses in the private sector, my respect for Bean Counters fell as each year went by. Accountants/Bankers like balance sheets to be perfectly in balance and profit and loss statements to fit some model some expert came up with. They love perfect percentages-- labor is X%, cost of sales is Y%, gross profit is Z% and so on. I have no problem in tracking results, it's just Bean Counters always seemed oblivious as to how the beans they loved to count came into existence. Beans (profits/revenue/jobs) make the world go round. But the world is being run by Bean Counters, not growers. Bean Counters are people on Wall Street. People like Secretary Paulson. They tend to think profits are a given. They just happen. Trust me, they don't. How do I know? Because if they had faith in the Bean Growers, they would insist on fertilizer: In this! case, fertilizer is tax cuts. You want profits? That is, you want Beans to count? Give the bean growers fertilizer, give businesses and people tax cuts. Bean Counters are not entrepreneurs and have no understanding of the art of creating jobs. It is an art because it involves trial and error and a willingness to lose a lot of hard-earned cash in the process of perfecting the business. Bean Counters hate entrepreneurs in start up situations. So much is unknown and their books are always out of balance. This bail out plan reminds me of something a genius Bean Counter might come up with. Many banks and investment houses had messy balance sheets and profit and loss statements due to bogus, assetless loans that were in default and the only way to fix these statements was to dispose of a bunch of worthless assets. If they could just find a sap to take them off the books (taxpayers), everything would be in balance, and life would be good. For them. For now. Bean counters would be happy when they looked at new balance sheets and they could give the green light for big time investors/lenders to borrow and lend again. The only problem is I don't see how the brilliant Bean Counters have fixed the things that create the beans. Even if Bean Counters will let their clients lend and borrow money, someone has to want stuff and be able to pay for it. It's great that we can borrow money for cars and homes, but it's better that people have the money to purchase cars and homes. Unemployment is up, inflation is up due to high energy costs, billions have been lost and companies are out of business due to Fannie and Freddie's collapse....But the Bean Counters didn't address that in the bail out plan. So the perfect balance sheets and profit and loss statements they have created will get messy again real soon because no one thought about the need to create new jobs to replace the ones that are declining or have been lost. Businesses don't magically grow because Bean Counters in New York are happy. Businesses need disposable income. They need to keep more of their money. The plan didn't demand drilling, building nuke and coal plants, it didn't cut taxes and it didn't eliminate counter productive regulations. And they didn't demand government cut spending. It would also help to shut down the very institutions that created this mess since it will happen all over again some time in the future. Governments tend to screw up businesses, but Bean Counters don't know beans about that kind of thing. I grew to hate Bean Counters because they don't understand how to create jobs. They just want sufficient beans delivered by the stupid people so they can put them in their perfect piles. The bail out plan did nothing to help the economy long term. The balance sheets and profit and loss stateme! nts need new businesses and current businesses to keep their percentag es in line with what bean counters like to see. That means there are consumers out there who have the means to purchase what the producers produce. That's what conservatives could have added to these discussions. But they were shut out. The people who understand how beans are created and where they come from weren't a part of the "rescue." I think this plan sucks. I think really smart Bean Counters put it together and in my experience that means trouble. The Bean Counters forgot about fertilizer. They forgot, or don't know about, tax cuts. And until they happen, this market will never recover. 10/10/2008 06:06 PM
From The Rusty Humphries Show
Good evening.
This country has been through tough times before. As we look at our situation tonight, we have a bit of a mixed bag: In terms of national security, this country stands tall. We have not been attacked since 9/11, our military has Al Qaeda on the run and we are clearly winning the war in Iraq. We face manageable challenges in Afghanistan but have new issues related to Russia, Iran and Venezuela.
It is a dangerous time and I will not minimize that fact nor will I exaggerate it for political gain. Make no mistake, we live in dangerous times but can remain safe if we remain strong and firm in our principles. Now is not the time for the feint of heart. Weakness invites aggression and we must never forget that timeless fact.
As you know, remaining strong militarily requires a vibrant economy here at home. As we all know all too well, the American ! economy has been weakened and requires our immediate attention. But before I tell you how our economy can once again be the envy of the world-- and it can in a very short time-- you need to know what has caused our current challenges.
By now you are aware of the delinquent children from the unwise marriage of our government and the private mortgage industry: These trouble-makers are known as Fannie Mae and Freddie Mac.
It appears to reasonable people that these two organizations have been run by crooks. No other politician is going to tell you that even though all of us know it to be true. This is how dysfunctional your government has become. Fannie and Freddie have been run by crooks appointed by reckless, corrupt and partisan politicians. Now I won't declare anyone guilty because their trials will be held some time in the future, but I will tell you that in the House of Representatives, Barney Frank, Maxine Waters, Gregory Meeks, Lacy Clay, and others protected these crooks. If I am elected President, my justice department will hold hearings and those people will be asked, under oath, to tell the American people what happened on their watch. There will be accountability.
We've heard politicians try to shift blame to others, but that won't wash. We will find out what money they received, who the lobbyists were and the full nature of their relationship with government officials. If this is seen as a partisan attack, so be it. But do not forget this fact: Justice is blind. There is no such thing as partisanship when justice is pursued or achieved.
We will also speak with my colleagues in the Senate. Chris Dodd is at the top of the list. Senator Dodd has received far too much money from the very people he did not hold accountable at Fannie Mae and Freddie Mac. I have pledged that I will be a reformer, and that isn't just talk. Your government has let your down and we will find out exactly what happened.
Of course investigations will include the people who headed Fannie and Freddie. You know some of their names: Franklin Raines, Jim Johnson, Jamie Gorelick, Janet Reno and others. If one dime of money was improperly taken, it will be returned to the shareholders. If laws were broken, the offenders will be brought to justice.
Our government just passed a law that may put taxpayers on the hook for $700 billion. We are told this was necessary for the future health of our economy. If elected President, I will guarantee you that not one dime will be wasted and every effort will be made to sell the at risk properties for a profit.
I am thoroughly disgusted by the behavior of everyone connected with Fannie Mae and Freddie Mac. The only way to guarantee it nev! er happens again is to hold people accountable. My guess is people will go to jail. That happens from time to time in Washington. We can't prevent corruption, but we can prosecute it.
My pledge is to hold people accountable and as things exist tonight, the Democratic Party has a lot to answer for. And if anyone wants to take issue with me on that obvious observation, I will debate them in public immediately. I won't suspend my campaign to do that because that is my campaign. I will take on corruption where ever it may exist.
If you elect my opponent, I can promise you we will never get to the bottom of this scandal. Democrats have taken no responsibility for what has happened and we must not reward that kind of behavior by putting them back in office.
Thank you for listening. God Bless you and God Bless the United States of America.
09/30/2008 02:01 AM Thanks for visiting talk2rusty.com. What I am sharing with you is one of the most important links to a video I have ever seen. Make no mistake: The United States media is involved in one of the most outrageous cover-ups in history. Democrats in Congress are DIRECTLY responsible for the current financial crisis in this country. The home mortgage meltdown has occurred largely due to the criminal mismanagement of Fannie Mae and Freddie Mac. And what we now know is that mismanagement of these two mega-government sponsored holders of most of America's home mortgages took place due to laws passed by the Carter and Clinton administrations. Republicans like President Bush and Senator McCain tried to stop this mismanagement and corruption, but were stopped by Democrats in Congress. Here's the video: It is despicable. But what is worse is the American news media has! held back this story from you. This is the equivalent of The Washington Post refusing to publish the Watergate break-in and cover-up. Hear the clips yourself: Clip 1 Clip 2 Clip 3 Clip 4 Clip 5 Here is the link again. Cut and paste it and send it to everyone you know: http://www.talk2rusty.com/pages/blog-archive-item?r=B5BSI7UUX6
In my opinion, there is nothing you can do that is more important than to get this information out to others who care about our future. The facts are not widely known, but we can change that. Send this link to everyone on your e-mail list and ask them to do the same. We are at a crossroads in our nation's history. Democrats and their media partners in crime are fixated on socialism as a cure to every problem we face. Don't let this stand. Our public servants must not be allowed to be our masters. Thank you for listening to the show, but more important, thank you for your concern about our country's future. Ignorance isn't bliss! It leads to Hell on Earth. Forward this link and let's defeat those who are willing to lie their way into power. We must hold our corrupt elected officials accountable. This cannot stand. - Rusty
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