(source cited)
Treasury Secretary Tim Geithner testifies during a congressional hearing in June.
The finance-reform bill Congress is likely to pass this summer won’t eliminate the risk of failure for financial firms, Treasury Secretary Tim Geithner says in an interview on Friday’s Morning Edition.
But the bill means that, when firms get into trouble in the future, “we won’t give them a second chance,” he tells NPR’s Renee Montagne. “We will dismember them, put them out of existence.”
The bill does create new powers for the government to wind down failing financial firms.
But many economists have questioned whether large firms will be allowed to fail in the future, suggesting that the largest firms may still be bailed out.
What’s more, some key details about how failing firms will be shut down remain unclear.
Nor does the bill specify how much money banks have to hold in reserve, as a cushion to protect against losses — a key measure of the safety of the financial system.
To hear or read more click on:
http://www.npr.org/blogs/money/2010/07/08/128388443/geithner-on-failing-firms-we-will-dismember-them
Congress, Media - Keeping them Honest, Politics
I’m sure the teabaggers in DC today will be thanking Obama and the Democratic Congress for overcoming GOP obstructionism and lowering taxes to their lowest level in 60 years?
“The American people need to be reminded that 98 percent of Americans got a tax cut last year,” Senate Majority Leader Harry Reid said Wednesday.
Reid was referring to the impact of the American Recovery and Reinvestment Act, otherwise known as the stimulus — essentially, the only Obama policy to really impact people’s 2009 tax returns. In fact, tax refunds reached an all-time high this year in part because of the stimulus, the president said in his weekly address on Saturday. Meanwhile, taxes are at their lowest levels in 60 years, according to William Gale, co-director of the Tax Policy Center and director of the Retirement Security Project at the Brookings Institution.
“The relation between what is said in the tax debate and what is true about tax policy is often quite tenuous,” Gale told Hotsheet. “The rise of the Tea Party at at time when taxes are literally at their lowest in decades is really hard to understand.”
For more click on these links:
http://www.dailykos.com/
Americans paying less taxes this year despite Tax Day rhetoric …
Tax Rates At Their Lowest Point In 60 Years Is A Problem | FDL …
Apr 15, 2010 … We pay less tax than many Europeans countries with their …. rest of the budget for several decades, it is BS on that count as well. … The 400 richest people in America had an effective tax rate in 2007 of just 16.6%. …
Congress, Government, Politics
Barack Obama, Harry Reid, Tax, Tea Party
There was this experienced mountain climber who was nearing the top of a steep mountain. He slipped and fell about 10 feet to a small ledge. Nothing was broken, but his body was bruised.
All his equipment and food had fallen to the bottom of the mountain. He had no way up or down. As he considered his problem he looked to the other part of the mountain that he could jump to and climb down safely.
PROBLEM: He would have to jump over 7 feet to reach it. He wasn’t sure he could do it. If he did nothing he would starve or freeze to death in a few days; no hope.
If he could by faith jump that 7 feet and make it he would live. He could miss and be injured or may die.
IF IN DOUBT HE DOES NOTHING, HE DIES.
IF BY FAITH HE JUMPS AND MAKES IT HE LIVES.
IF HE MISSES HE STILL MAY LIVE BUT BE SEVERELY INJURED.
How many times have we taken a leap of faith, made it and are glad we did? Going to college, changing jobs, buying a car, house, getting married, etc?
When we do nothing things become worse because conditions change daily, opportunities appear and disappear.
ISN’T THE SAME TRUE ABOUT HEALTH CARE REFORM? IF WE DO NOTHING 8,000 people die weekly because they have no health care. Treatments (spiritual, mental and physical), rehab, proper medicine, etc. Everyday it becomes worse. The longer we wait the less we can do, until it is too late to do anything. We go into a deep depression and become a weak 3rd work country.
Will you take that leap of faith, or do nothing? It is too late to start over.
Look at how long they’ve been working on it. Every call counts. Even the Nuns are voting for it.
For more click on any of these:
-
Mar 17, 2010 … In a rare public disagreement that will reverberate among the nation’s 70 million Catholics, leaders of religious orders representing 59000 …
-
Dennis Kucinich, D-Ohio, announced that he was switching to support for the …. We needhealth care reform. Everyone deserve to seek medical attention when … individual state health insurance exchanges and multi-state health plans …
-
Mar 18, 2010 … Of more importance than what nuns say or support is what the ….. I pay really good money for my “cadillac” healthcare plan (and you libs …
-
Health care overhaul plan picks up
support from left and Catholic
nuns. By The Associated Press. March 17, 2010, 2:15PM. dennis_kucinich.JPG
…
Congress, Faith, HEALTHCARE CORRUPTION, Hard Times
- (The answer after these headlines:)
-
While the AMA officially does not support the “
public option“,
… How is it either surprising or instructive that
70% of doctors
want the federal
…
www.reddit.com/…/new_england_journal_of_medicine_over_70_of_us/ – Cached - Similar
-
Even 50 percent of Republicans favor that
option. Still, the debate
over ….. I don’t
want to pay
70% of my income in taxes & fees, just so someone who
…
www.cbsnews.com/stories/2009/06/19/…/main5098517.shtml – Cached - Similar
-
Jun 21, 2009
… Mr. Obama and many Democrats have argued that a
public plan would be
….Senate Panel Wrangles
Over ‘
Public Option‘ in Health Plan
…
www.nytimes.com/2009/06/21/health/policy/21poll.html – Similar
-
Sep 14, 2009
… Health care reform forum
Over 70% Of Doctors Back
Public Option: New England Journal Of
… Of course they
want something different.
…
forums.starnewsonline.com/eve/forums/a/tpc/…/2881029919 – Cached - Similar
-
1 post - Last post: Sep 3
The administration and congress have consistently stated that a bill will not pass without apublic option. You’re a pessimist, that’s fine, …
www.democraticunderground.com/…/duboard.php?… – Cached - Similar
- NOW, READ THE FOLLOWING AND SEE HOW CORRUPT OUR CONGRESS AND INSURANCE COMPANIES ARE:
-
Sep 2, 2009
… The large amount in
contributions underlies a constantly
… Bingel represents a who’s who of the health care industry including America’s Health
Insurance Plans (AHIP) and
… Senate and
Congress: read what you Vote on yourself.
… the very health care that you yourself are immune from
receiving.
…
www.opencongress.org/…/1199-Key-Democrat-in-Health-Care-Talks-Receives-Most-Health-Industry-Contributions-in-2009 – Cached - Similar
-
In addition to accepting all the ‘
contributions,’
Congress just gave itself
… Affairs Committee — has been the highest benefactor,
receiving $767800.
… of
insurance ‘
contributions‘ is available in the article from The
Insurance Journal.
… It’s time to replace corrupted
Congressmembers with
people who will
…
www.americanchronicle.com/articles/view/107790 – Cached - Similar
- [PDF]
File Format: PDF/Adobe Acrobat -
View as HTML
Jun 2, 2009
… the Federal
Insurance Contributions Act (”FICA”) for employer
… We have assumed that
most collective bargaining arrangements will have expired after
… reduction in the number of
people receiving employer sponsored
…
www.carewisehealth.com/…/2009_06_JCT_estimates_on_Health_Care_Exclusion.pdf – Similar
-
Apr 19, 2009
… The Federal
Insurance Contributions Act (FICA) tax is a United States payroll
…. consequently, for
most people, a disabling injury meant no more income
… Recent debates in
Congress center on citizens’ choice of where to
… individuals with lower lifetime average wages
receive a larger benefit
…
www.social-security-lawyers.net/NewsArticleDetail2338.htm – Cached - Similar
-
Sep 25, 2009
… Now there is a massive effort to make sure that
Congress does nothing about it.
… on lobbying and made $144 million in campaign
contributions.
….. Most people are disconnected from politics with a mixture of
… of
people receive the Dear John letter from their
insurance carrier every day.
…
www.politico.com/arena/ – Cached - Similar
-
Jul 7, 2009 … A major factor is the large campaign contributions made by insurancecompanies. … But many people presently receiving health insurance through their … Mostwant the option to be able to continue to see their present …
www.healthcare-now.org/congress-needs-to-protect-americans-not-insurance-companies/ -
WE DO HAVE SOME CONTROL OVER OUR GOVERNMENT BUT
NO CONTROL OVER THE LARGE CORPORATIONS.
WHO ARRANGED FOR US TO HAVE SOCIAL SECURITY WITH DISABILITY AND SURVIVOR PROTECTION, MEDICARE, MEDICAID, HELP IN TIMES OF TRAGEDY, ETC.?
WHO DO YOU TRUST THE MOST? WHO HAS HELPED YOU AND YOUR LOVED ONES THE MOST?
IF WE DON’T HAVE A PUBLIC OPTION THAT WILL COVER THOSE WHO INSURANCE COMPANIES WILL NOT, MAKE SURE EVERYONE ELSE IS COVERED THAT CAN’T AFFORD IT, AND WILL KEEP INSURANCE COMPANIES HONEST, WHAT DO YOU THINK WILL HAPPEN?
MAY GOD GIVE US THE COURAGE TO DO THE RIGHT THING FOR ALL AMERICANS, AMEN.
Congress
Democrats, Health, Health care, Health care reform in the United States, Health insurance
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