After seeing the “concern” of the Republican senators in Washington D.C about the plight of the American Automotive industry, a public accounting of funds should be a top priority of the Obama Administration. What I am talking about is that when firms like AIG, Bank of America, and other Wall Street firms get blank checks from the taxpayers without a paper trail, the Automobile Industry has to get nit-picked for every penny. People, this is their last 30 days of unchecked and un-regulated business conduct that AIG, Bank of America and others like them will be allowed to operate. I am recommending that the Obama Transition Team demand that an accounting of all taxpayer funds given to these companies be made available for public view by February 23rd, 2009.
Just like the IRS doing an audit on an individual taxpayer, these companies should undergo the same scrutiny from the government. We the taxpayers are part owners of these banks and investment companies. This information shall be made available for public viewing in the form of an online statement of accounts. If you have a credit card then you know the drill. Every 30 days you get a bank statement in the mail showing your transactions on your credit card. So why not expand that concept to the companies on Wall Street that have our money?
We have enough Information Technology professionals who have the ability to produce detail and summary reports showing financial transactions. We have capable accountants and finance specialists here in Michigan that can maintain the systems that monitor any and all financial transactions of anyone. We are outraged as citizens of this state when bonuses are being paid to AIG executives and others while people are losing their jobs, health care and homes. The financial genocide that has been inflicted upon us must be stopped with the same zeal that we go after diseases like AIDS, Cancer, ALS, etc.
The banks will be accountable to the people of Michigan because we will demand it. Senators Stabenow, Levin, and Dodd of Connecticut are on the right track when they say that on January 20th, the banks will have to re-invest into America. This re-investment program will force the banks to distribute the TARP funds into Michigan homes, businesses, and schools. I will also push to give District Court Judges the power to modify mortgages and lower interest rates to consumers. I am asking you to support me in efforts to help the Granholm and the Obama Administration to force the banks to re-invest into Michigan businesses with %3 interest rates to stabilize our State economy. This program will allow existing businesses to restructure their debts to make them competitive again. Lower interest on loans and purchases of bonds will allow the creation of programs to create jobs in Michigan.
I will also push for prosecution of the banks who gave fraudulent terms on loans to vulnerable businesses and homeowners. Instead of jail, restitution will be in the form of modified mortgage terms to Michigan residents. I will work closely with Incoming HHS Secretary Shaun Donovan and the vast resources of the United States Department of Justice to restore home ownership in Michigan one home at a time. This will help to reform education one school at a time because if families with jobs occupy homes, the children will need schools and teachers to help them.
In addition to the financial restitution, I am going to ask my colleagues in Washington to lead the charge of allocating a portion of the 700 billion in TARP funds to pay for universal health care coverage for all. The time is now to address the issue of health in Michigan. There are too many of our citizens that are dying from diseases like Diabetes, Cancer, and blatant neglect. The health of the people is a Troubled Asset and shall be treated as such. To let people die for profit is immoral and a disgrace to humanity.
As your State Representative, I am urging you to contact me and your Federal Representatives to voice your concerns. We know that when the Obama administration takes office, they will call the economic situation another great depression. We the people cannot and will not let that happen without a fight. Gov. Granholm and I will be fighting to our last breath to restore the Revenue to our State in the form of reasonable and fair investment of Federal funds into Michigan. We also want you to contact Senator Richard Shelby of Alabama (Click here for Senator Richard Shelby)
and Senator Bob Corker of Tennessee (Click here for Senator Bob Corker) to let them know of your feelings regarding their attitude toward the hard working Union Members and their contribution to America. Take the time to remind them of the contribution of UAW members in the war effort by our Armed Forces.
When you contact these Senators let them know that we all have a lot to lose and everything to gain. On a morality perspective, when someone is suffering somewhere we all are suffering everywhere. You can’t be bible thumping evangelical preaching morality and virtues, while you concurrently have a total disregard for the financial and physical health in our country. The lack of health care in Michigan and America is a moral disgrace and a major component in the out of control deficit. Fighting a useless war in Iraq while your fellow citizen is on their back with an illness is a poor example of government spending. Then ask your elected officials and fellow constituents to take some time and count the domestically made Automobiles in places like Afghanistan, Iraq, Panama, Dubai, and Saudi Arabia. Do you see the point being made?
We hope that with your active participation in your Government, we all can make a difference. Just remember that the 1st State that is suffering the most will be the first state to lead the people back from this Great Depression of the 21st century.
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