Thursday, February 26, 2009

Citigroup Announces The New Deal

It appears the Government is willing to further waste American tax dollars. In a scheme hatched to eliminate any real claim Americans have in Citigroup, federal regulators have expressed a willingness to convert already owned preferred shares in Citigroup to common stock.

The real problem with converting to common stock is that it will become worthless when Citigroup goes through bankruptcy. Who benefits when we convert preferred stock to common stock? Preferred stock has benefits beyond voting and or dividends. Many times preferred share holders are first on the list when dividends are distributed and they are not diluted when additional common shares are disbursed.

I do not know all the structure details for Citigroup preferred shares. The point here is that preferred shares are worth far more than common shares in this economy. Anyone who would agree to a conversion at this point would have to be a complete idiot or a criminal claiming to act in the best interest of the American public. Unless Americans are guaranteed greater than 51% collective stake in Citigroup we should keep our current preferred or sell our preferred position to another entity.

LISTEN!

Under no circumstances should our current preferred stake in Citigroup be converted to common stock! It would be an act of waste fraud and abuse to do so!

Wednesday, February 25, 2009

Obama Extreme Tax 2.0

The new buzz is all around tax 2.0 an era of extreme taxation with less representation. Those of us who work or intend on working in the future are facing the sad Obama reality that tax 2.0 could double or triple our tax expense. I currently reside in state where social 2.0 taxation is rampant.

Lets talk health care, why should health care be socialized? No response, that's because their are no benefits to adopting a social approach to health care. Health care workers will find they are over worked and under compensated, and fewer will find the field attractive. Instead they may opt to drive a bus or a taxi cab as many do in Moscow.

On another note, the house of representatives passed a pork barrel bill worth 400 billion, ah what the heck! Why even read it, it no longer matters what Americans want. It's all about what the liberal media wants, right? I only wish they would have included an additional 80 million dollars for a pet project I would like to see completed for the University of Wisconsin River Falls go Falcons (UWRF)!

PennyMarkets is dedicated to bringing light to penny stocks. However, I have found myself getting more and more upset with how politicians have been handling our tax dollars. I am sorry some of you have not been getting the penny stocks content you were looking for. I will make an better attempt at including more blog posts about penny stocks!

Thanks so much for visiting PennyMarkets.com your source for penny stocks news.

Treasury Finds Way To Waste Second 350 Billion

Treasury says big banks can get more bailout funds, but at what expense?


Why is the new plan as bad or worse than the first disbursement of TARP funds? The second disbursement gives banks the option to convert tax payer owned preferred shares into common stock before they file for bankruptcy. This is a terrible benefit to American tax payers. We will be left with nothing when banks decide to go through bankruptcy. Again we will see the heartless politicians pretending to care about our significant losses.

Bail Out Bad Borrowers Too?

Ben Bernanke and Barney Frank,

Are you out of your lucid mind? Hell no, we are not going to bailout bad borrowers too. Just for uttering the idiotic idea you should be locked away in a prison. It's liberal crap like that which has landed us in our current situation.
Home owners who can't pay their mortgages should be thrown in a prison cell next to you for committing mortgage application fraud. What the heck is the matter with these people. Sure were facing hardships, so what. Get a grip, it's not the end of the world. We need to allow the steps already taken to work. Everyone in America knows home values continue to be overpriced across the board. Until overvalued home and land prices fall no-one is going to buy them.

Monday, February 23, 2009

Knock Knock. Who's There? Citigroup A Penny Stock

Once again Citigroup is banging on the door and the Federal Government is there to throw your money away. Reports this morning are suggesting the Federal Government is mulling the idea of purchasing as much as forty percent of the ailing bank.
When is enough, enough? Citigroup promptly squandered the initial billions American tax payers invested. The American public will need more than a wink and a nod before they would ever invest with Citigroup again, right? Probably not, the Federal Government once again is going to throw our moeny down a rat hole.
We have watched our initial forty-billion-dollar investment drop significantly in value. In-fact, much of our initial investment is worthless in the form of warrants. Since our initial investment Citigroups stock has joined th e ranks of risky penny stocks.

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Saturday, February 14, 2009

Where's The Change?

Democrats and republicans are both responsible for the garbage in and around D.C.. I have heard time and time again that what we get out of D.C. is to be expected. Why has a certain level of underhanded dishonesty from our representatives become expected? Why don't we demand a higher standard from them? Is it because we're too lazy to say "get the heck out"?
It's time; we need to hold our representatives accountable to our best interests, not theirs. If they are unable or unwilling to conform, we need to get rid of them. The socially acceptable norm of corruption has to stop.
Last night a bill was passed that spends an additional 780 billion dollars. Can anyone tell me exactly what the money will be spent on? How many meaningful self sustaining jobs will be created from this bill? The White House started out by saying as many as 4 million jobs would be created or saved. Now they are saying 3.5 million. There are reports out that the number of jobs which the bill will create is much smaller, more like 1 to 3 million jobs. I thought the new administration of change was supposed to be more open and honest with the American public, however I see nothing except the same.
I would like to hear someone intimately familiar with economics explain how America is facing the worst economic crisis. President Obama using his or else tactics will not scare me into action; I am numb to those tactics. They are the same tactics President Bush used time and time again. In-fact, just days after leaving office Vice President Dick Cheney was quoted as saying America was vulnerable to another terrorist attack! Enough already!
Terror attacks occur every day in America. News papers and television stations report random shootings, drive by shootings, unexplained people found dead in allies. How many people die every day in D.C.? Compare this to the number of people killed in terrorist attacks. America is sick of "alarmisms".

Friday, February 13, 2009

Forclosure Plan To Ruin America

A recent plan announced by the Obama administration and Tim Geithner will destroy the housing market for ever. In a recent press release the talking heads discussed a plan in which the government would pay banks to lower payments for delinquint home owners. The welfare administration claims America is facing the worst economic dowtrun ever. However, the downturn for homeowners has been extremely limited to people who never should have had loans in the first place.
Everywhere we look we see SUV's and quad cab trucks driving up and down the roads. Movie theatres and restraunts enjoy full houses. No sir, the worst ever economic downturn is an aboration of the coolaid drinkers in D.C.. Sure, in some locations across America there is a certain changover ocuring, however, in a competitive economy that should be expected.
We need to stand up for our selves. D.C. and Wall Street have fraudulently determined the direction of America long enough. Consumers have spoken; we drive supply and demand. If we no longer desire a company's product it's because it has been replaced or we do not need or want it. Grow up, Obama administration: consumers decide which companies survive not D.C. and Wall Street.

Thursday, February 12, 2009

The Stimulus Scam Heard Around The World

It appears that today the stimulus scam President Obama, Congress, and The Senate have been constructing is ready.

I saw this in a press release today.

"The RealtyTrac report said nearly 67,000 properties were repossessed by lenders in January as the worst recession in decades, falling home values and stricter lending standards continue to sap the U.S. real estate market. That was up from more than 45,000 repossessed properties in January 2008, but down from 79,000 in December."

Really, is this the heart of our problem. 300 million Americans, and 60,000-70,000 lose their homes to foreclosure and the entire banking system is in crisis? I don't think so. Something else is helping this crisis along. Oil prices hit a record $150 per barrel and energy prices are on the rise. That's the real reason behind the economic downturn, not foreclosures.
How will stemming the minimal amount of foreclosures help lower energy costs? I don't know. Tim Geithner must believe foreclosures are somewhat important. Geithner has devoted 50 billion or 5.5% of the stimulus funds to stemming the foreclosure epidemic.
President Obama proposes ethanol as the key to the economic crisis. However, after reviewing the fuel efficiency of vehicles operating on E-85 I have found that it costs nearly double to operate an E-85 vehicle. I do not see how E-85 will help American realize energy independence.
We have learned that the so called housing crisis is not the real problem in America and we have learned that E-85 is not the solution to Americas growing energy crisis.

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Wednesday, February 11, 2009

Economic Stimulus Scam Unfolding

As a once popular song went "If I had a trillion dollars". That's what democrats and republicans are singing on capitol hill. The recent anticipated downturn in the housing market has caused a ripple through the U.S. and world economies. The new stimulus plan seeks to prevent an economic disaster.
According to my readings we nowhere near the worst economic times. President Obama and his team must be drinking cool-aid while they are reviewing the numbers. We are not as bad off as we were in the 1980's. So, why are the cool-aid heads seeking the worlds largest stimulus package? Simple, they are opportunists, yes that's right, just like predators who feed on the weak. They see an opportunity to scare the public with unfounded information in order rape the American tax payers.
Sure, some good will come from their pet projects. However, there will be extensive and flagrant waste, fraud, and abuse. President Obama, and his team have schemed a new method for skirting representation for taxation. They are poring billions of dollars directly into state general funds. This will allow the states to commit the funds as needed. The general fund method is amusing, but will result in the same waste, fraud, and abuse as usual.
As tax payers, those of you who pay taxes, you should be deeply concerned with where your money is going. We should not come to expect a bit of waste, fraud, and abuse as a part of the political process. We need to demand our representatives represent us, and us only.

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Monday, February 09, 2009

Obama Can't Understand Why Americans Say No

Dear President Obama,

Are you really uncertain as to why Americans do not want your stimulus plan? I think President Obama and his administration very clearly understand why Americans are standing in opposition to his stimulus plan. We Americans do not support the plan because it will serve as another fluff bailout for individuals who do not need or deserve it. To be very honest, no one deserves a bailout of any kind.

"I think this is another chance for the president to talk directly to the American people about what he thinks is at stake," Gibbs said. "Watching millions lose their jobs, and having in front of Congress -- and hopefully in front of him soon -- a plan to save or create millions more jobs and get people back to work, putting money in people's pockets, getting help for state and local governments so they don't have to lay off firefighters or teachers or police officers."

As the rest of the working public suffers, President Obama must be declaring state and local governments, police officers, and teachers a protected job class. I firmly believe in equal opportunity when it comes to unemployment. If a Americans working in a factory have to go without, so to does a police officer, teacher, state and local government.

The US economy is not a perpetual money making machine. It has it's ups and downs, and until government recognizes that fact, they will continue to make giant budget errors. So please, just allow the inevitable to happen. State and local government services have bloated for to long, we need to make reductions.

I have emailed, and phoned my representatives to let know where I stand on this bailout package. They have given every indication that they will go forward with the plan. They have NO intention of voting against the stimulus package. I guess Wisconsinites and what they want does not matter.

Kind, Feingold, Kohl


Wednesday, February 04, 2009

Stimulus Bill Includes Clubhouse, Golf Course, and Tennis Courts

Today governors converged in D.C. to push their support for the stimulus package. Talking heads are claiming 70% of Americans show support for the stimulus package. Frankly, I find the 70% margin really hard to believe. I do not support any stimulus package because the government has proven to be very ineffective in causing such efforts to be effective. I would also like to point out the criminal tax evading activity of several of President Obama's appointees. Why would he even consider tax evaders for these very important political positions?
I have contacted my representatives about the bailout/stimulus. I informed them that I am disgusted with their inability to safeguard Americans against waste, fraud, and abuse.
I contend that Americans everywhere are not suffering any more now than they were 10, 50, or 100 years ago. This stimulus package will serve nothing more than the select few who lobby congress and the senate. As an American, I am telling you, we do not want your stimulus package! We do not want anyones stimulus package, republican or democrat, we just do not want it.

Response from Herb Kohl:

February 3, 2009


Dear Mr.:

Americans everywhere are suffering due to the economic
downturn, with jobs, life savings, and basic needs at stake. Our
economy has officially been in a recession since December 2007,
and America has lost 2.6 million jobs in that time, the biggest loss
since 1945. I support a broad recovery package to help struggling
families through these difficult times and jumpstart our faltering
economy through sound investments. I appreciate hearing your
thoughts on this issue, and welcome this opportunity to respond.

The American Recovery and Reinvestment Act of 2009
strikes a balance between government investments and tax breaks
to foster economic development and help Americans make ends
meet. The package invests in energy independence, education,
health care, transportation, job training, and small businesses.
Additionally, the legislation includes tax breaks such as the
"Making Work Pay" tax credit, which reduces payroll taxes for
middle class Americans and increases take home pay on every
paycheck. Existing federal benefits for disabled veterans and
seniors will also be increased to help these vulnerable populations,
and the earned income tax credit will be expanded to assist the
nation's struggling working families.

I am working hard to ensure the recovery package helps
those Americans who need it most. I led efforts in the Senate to
include $1 billion for job training programs to help displaced
workers update their skills, because putting people back to work is
fundamental to restarting the economy. As Chairman of the
Agriculture Appropriations Subcommittee, I supported a
temporary boost in food stamps. I also fought for school
breakfasts and lunches, and the Women, Infants, and Children
program (WIC). With people losing their jobs, I am committed to
keeping resources in place to help families put food on the table.
Most economists agree that a food stamp increase, because of the
way food stamps are distributed and spent, is one of the quickest
ways for government to stimulate the economy.

While I believe an expansive recovery package is necessary
to confront the recession, it is critical for Congress to spend these
funds prudently and avoid waste, fraud, and abuse. The American
Recovery and Reinvestment Act does not include any earmarks.
The legislation uses formula-based funding that flows directly to
the states. Formula funding allows state and local officials - who
best know state and local needs - to direct resources to the highest
priority projects. They can also direct resources to projects that are
most "ready to go."

I will keep your thoughts in mind as the legislation comes
before the full Senate. I have heard from many Wisconsinites with
a wide range of viewpoints on this issue, and I appreciate every
letter and phone call I receive because they help me to know what
is important to people back home. Please do not hesitate to contact
me again in the future if I can be of any further assistance to you.


Sincerely,


Herb Kohl
U.S. Senator
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Monday, February 02, 2009

Sen Dodd Caught In CountryWide VIP Scandal

Today Sen Dodd admitted to receiving something called a VIP mortguages from lender CountryWide Financial. As many Americans were caught up in unethical lending practices known as adjustable Arms Sen Dodd was on the recieveing end of very favorable VIP terms.
Sen Dodd is currently the Chair of the Senate Banking Committie.
"I just wanted to put this behind us," siad Dodd. Sen Dodd heard of his favorable status over a year ago, but only now is deciding to end his VIP status with CountryWide Financial.
A rash of scandals has hit the Democratic party as they are attempting to pass the largest stimulus package in US history. I am very concerned with the integrity of both political parties. Perhaps now is not the time to be pushing such a large package through. Maybe we need to take a deeper look at ethics in Washington D.C. before we risk any further ebarasment .

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