Recently due to Sub Prime looses the US Gov has swapped $400 billion of this Elite Club’s Mortgage Backed Securities & Derivatives with preferential government Loans and government securities with Tax Payers Money; rather than sending the guilty to jails. Even the UK Government has swapped $100 billion worth of Bank Mortgage Backed Securities & Derivatives with Government Securities. These Bankers Securities & Derivatives are not even fit to be used as Toilet Paper. When the US Government is not punishing those who have done Financial Scams to the tune of over $600 billions; how it can be trusted that they are serious in bringing reforms the way US government operates?
I am a small Check Casher in New Jersey licensed by the same Banking & Insurance Department which supervises & regulate Elite Club Members making $20- $350 million plus perks. The only difference is that my fee is regulated by BID from $1% to 2% of the face value of the check (welfare or payroll) for the last 15 years. In the mean time my Bank Service Charges (Interest on borrowing not included) has gone up from $235 to $2,000.00 per month, Banking License from $250.0 to $1,800.00, Liability Insurance from $200 to $2,000.00, Workman Comp from $136 to $980.00, Crime (no coverage for check frauds like big Banks) from $900.00 to $5,800.00, Medical for a family of 4 from $336.00 to $1723.00 with 40-60% reduced benefits, higher co-pay as compared to 1999 & no vision coverage & dental is partial only with a cap of $1,500.00 per annum.
Then my Property Tax $7,800.00 in 2001 has gone up to $16,380.0 for living in the most corrupt & racist state of the world New Jersey under Pro Israeli Rulers. In 1999 I used to work 80 hours and now I work 120 hours but still unable to match my peak earnings of 2001 which has dropped by over 25% in real terms despite my 50% additional hours I am putting in. Last year I was audited for more than 2 months on the orders of a Goldman because I have become a pain in the neck for NJ Rulers for making complaints about a School Board stealing money from its student, a Lunatic Zygmunt Wilf doing massive permanent wholesale damage to environment, a Police Union calling Indians are cockroaches, animals, illiterates & illegal and Towns having Traffic Summons Quota for Minorities to raise revenue. Surprisingly my business is only in 375 Sq Feet. and since inception in May 1999 has been audited 7 times by State Banking Department & 2 times by IRS on the complaint of NJ Rulers; where as some of the similar businesses has not been audited for 8-10 years.
If I look around for more comparison; in 1999 CEO of my Health Insurance took home $8.5 million and in 2007 took home $28.5 million, which is an increase of 150%. Even a small NJ company Quest Diagnostic its India born CEO Surya Mohapatra took home over $2.0 million in 2007 and another India born Indra Nooyi CEO of beverage giant Pepsico’s pay packet was $12.74 million, Oracle CEO Larry Ellison’s total compensation was $192.92 million. Also in 2007 Investment Banker Goldman Sachs CEO took $87 mil in year end bonus. Bear Stern’s CEO took $47 mil as year end Bonus and then flushed Bear Stern in Toilet in March 2008. Surprisingly a ex-Wall Street Elite Club Member Henry Paulson now running US Treasury bailed this company out with Tax payers $30 billion given to another robber JPM Chase against some Bonds which can not be used even as Toilet paper. JPM Chase paid $345 mil for Bear Stern where as its real estate is worth almost $1 billion.
Then Citi Bank marred with huge financial losses of more than $80 billion gave Vikram Pundit $ 26.7 million in stocks & $3 million in Stock options as Signing Bonus besides undisclosed Package for his Exit & Pay packages in Dec 2007 to make sure all the wrong doings done by previous CITI bosses will be covered by him and will not be made public. Surprisingly Vikram Pundit has no expertise or experience or knowledge in Citi’s core business which is consumer Banking.
If government can regulate for last 15 years income of a small business owner like me under the pretext my services are used by poor & less fortunate in the society where as the fact is my services are also used by Elite Club Members posing as Politicians, School construction Contractors, Real Estate & Mortgage Brokers & Wall Street people stealing from the public. Why can’t the same logic can be applied to regulate the earnings of Elite Club Members in Banking, Real Estate, Medical Care, Insurance, Pharmaceuticals, Educational institutions, Food Industry, Soft ware, Attorneys, and Politicians etc?
Can the American Political Leadership rather Unionized Carrier Politicians Posing as Republicans & Democrats working for Robber Barons & CEO’s has any explanation between my rising Health Premium $ 336.00 in 1999 to $1723.00 in 2008 with 40-60% reduced benefits and 6 times higher co-pay for Doctor visit & Medicines going up from $5 to $30.00 and Health Company’s CEO’s pay going up from $8.5 million in 1999 to $28.5 million in 2007?
Can they explain why my property tax from $7,800.00 in 2001 has gone up to $16,345.00 in 2007? My property is a single family unit with little over 3,200 sq ft built up area on a piece of land measuring only 100 ft X 110 ft.?
Can they explain why my food bill from 15% in 2005 has gone up to 28% in 2008? Why government gave $2.8 billion in 2007 to Farmers lobby for not cultivating the Land? Why they were giving subsidies to Corn Farmers & Ethanol Producers despite the fact that it takes 26 Lbs of Corn to produce 1 Gallon of Ethanol?
It seems American government policies and the policies of Corporate America have become one and the same. The real minority Unionized Elite Club Members are running America. The wealthy, influential and well connected people; some posing as our Political Leaders are making all the decisions. The back bone of our great industrial nation was built on the backs of working men & women of middle class and the working poor, who are the majority in America. It looks like Unionized Elite Club Members; big Corporations & Politicians of USA are working very hard to increase the population of poor in America. The members of Elite Club are devising con schemes how to make the majority poor by reducing their earnings and entitlements in real terms. The Americans must rise and unite to perform their Civic Duties to take back America from this Elite Club who is ruining America.
We must understand what our great founding President George Washington said, “Government is not reason; is not eloquent; it is force like fire, it is dangerous servant and fearful master.”
God Bless United States of America