R. Sebastian Gibson asked:


THE CAPITAL, WASHINGTON D.C.: In a sweeping development that makes all prior bailout, rescue and stimulus plans including TARP Plans 1 through 15 pale by comparison, Palm Springs and Palm Desert Lawyer Sebastian Gibson today unveiled a 250 Trillion Dollar Bailout Uber-Rescue Plan and Stimulus (known both as BURP and BURPS) designed to give a boost to the nation’s troubled and often misunderstood lawyers by rescuing the heart of this country’s economy, its lawyers who, like much of the nation are depressed and stressed-out like never before.

 While Congress which has been split down partisan lines over each of the previous bailout and stimulus plans proposed so far, with many of the Senators being former lawyers, Congress is said to be almost unanimous in their hunger for a plan like BURP. For the first time, Congress could come together to the dinner table in our country’s time of need to help feed our nation’s overburdened and unappreciated lawyers.

 It remains unclear, however, whether President Obama, himself a lawyer, will be willing to sign the legislation once the House and Senate pass BURP. Speaking on condition of anonymity, a spokesman said, “BURP may simply be too much to swallow.”

Using language only somewhat similar to what has been used by the nation’s Treasury Secretaries, but in some ways more graphic, Palm Springs Attorney Sebastian Gibson stated that having BURPS could repair the part of our country’s anatomy that is in a word, most constipated. Warning that the nation faces the most serious economic crisis since lawyers went into depression in the 1930s, Sebastian Gibson said that BURPS are necessary to get the guts of this economy, its lawyers, functioning again. BURPS, he said, are necessary to get toxic matters, unemployed attorneys, out of the nation’s overburdened financial system, before the economy and the system shuts down completely.

 If you need of an attorney with a sense of humor for a personal injury, business, real estate, patent, trademark, copyright, environmental, entertainment or international law anywhere in Southern California, visit our website at http://www.sebastiangibsonlaw.com and call us at any of the numbers easily found on our website.

 Unlike TARP, which some have criticized for not having released sufficient funds, BURP is actually comprised of a number of smaller BURPS focused on various segments of the legal community such as personal injury lawyers, divorce lawyers, criminal lawyers and government lawyers. Designed this way to provide maximum relief, BURP has been praised for having at the center of it’s plan, these simultaneous releases (both large and small BURPS) designed to get the economy moving again before the financial system in this country shuts down completely and the recession becomes a full-blown depression.

 It has taken Palm Desert Attorney Sebastian Gibson who has come from main street USA to be hailed as perhaps the one American with a vision that could actually stimulate the economy, applauded the broad support for BURP saying it was essential to have a BURP after all the other stimulus and rescue plans that have been causing so much gas among Americans and Congress. Without BURP, this build-up could have allowed the worst crisis in our history, to become a catastrophe, blasting away any hope of recovery.

 The BURP plan includes help for legal victims of this gas build-up with over 47 Billion for health services including tax credits for the purchase of medications to prevent and relieve future financial indigestion and an 82 Billion credit for stomach relief medications for those already suffering from the bloating, cramping and other medical issues brought on by this crisis.

 While some members of the media, notably those on Fox News, questioned the sanity of spending this amount of money to save this country’s lawyers from losing their jobs and bankruptcy, Palm Springs Attorney Sebastian Gibson reminded the detractors of the plan that there are now more lawyers than you can shake a stick at.

 Speaking at a press conference, Gibson said, “Right now, dysfunctional attorneys are like gallstones in the nation’s bowels. If all the lawyers in this country were to go on the unemployment lines, unemployment in this country would swell like an inflamed or overripe prostate, and eventually explode, causing panic in the streets and around the world.”

 While there was no comment from Treasury Secretary Timothy Geithner about BURP, it was believed that many of the staff at Treasury were wondering why no one at the Treasury department had spit up a BURP plan of their own.

 Visit our website at http://www.sebastiangibsonlaw.com and call us if you need a lawyer for a personal injury, business, real estate, patent, trademark, copyright, environmental, entertainment or international law matter anywhere in Palm Springs, San Diego, Orange County or anywhere in Southern California.

 As BURP was being digested by Congress, Palm Springs and Palm Desert Lawyer Sebastian Gibson was said to be working on a more effective plan designed to help the nation’s financial system by discharging all of the CEOs of major financial institutions. Known only as BARFS (Bailout And Rescue of the Financial System), details are expected to be released next week.



Alfred

Matt asked:


Why do the supporters of the bailout and the economic stimulus package say it is necessary? How exactly is it supposed to help the economy, and why does this justify the cost and long term effects? What are the long term effects? This isn’t a rhetorical question, I don’t want rants against it. I want someone to actually try to persuade me that this is a good idea. So far, I have only heard of its drawbacks and faults, and can’t see how this could possibly help us out of the recession. I want to know why our leaders are willing to spend a trillion dollars on this. Thank you for your time.

Doris

football asked:


I don’t understand what the implications of a bailout are. Who does the money go to? How does it help? Will it work? How will it work?

Micheal

John S White asked:


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  Answer:             They have real money silver and gold coins.

  Question:            Do you have your money tied up in a 401K, stock and other paper                              that is continuing to losing value?

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 Peace of mind comes from the knowledge that your money is silver and gold coin.  What do I mean by that?  Let me explain.

 Pull a paper bill out of your wallet and look at the top of it.  You will find across the top of it the words “Federal Reserve Note”.  What this means is that this paper document is a promissory note.  The United States stopped backing paper with silver or gold in 1971.  It is a now just a promissory note from the Federal Reserve.

 The paper bill is not durable and it will fall apart when it has been circulated for any length of time.  Silver and Gold coins are durable.  Silver or gold coinage do not have a “shelf life” and do not become useless after circulating.

 Paper money cannot easily be taken from one country to the next and be spent without some form of loss or gain.  Silver or gold coinage has no such problem.  Silver and gold coinage are universally accepted anywhere in the world.  Can you say that about the dollar bill in your wallet?

 Paper money does not hold its value.  They can print as much paper as they want, or as few as they want, thus changing the value of the bills in circulation.  Silver and gold coins, on the other hand, hold their value.  An ounce of silver or gold today is worth an ounce of silver or gold tomorrow. 

 The value of silver or gold is not what adjusts in the market; it’s the value of the paper money that changes daily.  Isn’t that a little scary?  The money in your wallet holds no true value at all.  Silver and gold are the standard against which all paper money is measured.

 Peace of mind comes from owning silver and gold coinage.  Owning silver or gold coins gives you the ability to go anywhere in the world – at any time – and spend it.  Even if your bank fails, you still have money.  They cannot take the value of the coins away from you.

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Marilyn

Healthy Person asked:


What’s different about the new plan that caused some congressmen to change their votes?

And do you think we would fall into a depression if this bailout plan wasn’t passed?

Denise

NDIMELE IKECUKWU PHELIM asked:


It makes sense to use a foreclosure bailout loan since they are a real option. They are loans given by private lenders to help you forestall foreclosure. Note that they usually have higher repayment rates and premiums, in fact, the money to redeem your home is given you and you pay back your new lender under an agreement of usually higher rates.

What happens here is that your new loan lender buys off the mortgage and you pay back on agreed new rates over a period of time. This type of loan is similar to 2nd mortgages in the sense that the tenant will continue to be the owner of the home. Eventually the owner of the house is given back his bank-foreclosed home

Be watchful so you do not become a victim of the many foreclosure bailout scams available now. They pretend that they are there to help you recover your home but their actual intent is to get the deed of your home. On this point, you have to take more care before signing documents with people offering this loan. Read all the small prints and understand what they imply.

Some parts and states in the US like Florida have made laws that protect the home owner. These legislations empower the loan borrower to retain ownership of the home despite wordings in the agreement documents.

More Help? Click Here: http://foreclosure.best-mortgages-info.com



Philip

R. Sebastian Gibson asked:


Unless you are in a coma, it doesn’t matter where you live in California, in Corona del Mar, San Diego, Orange County, CA, Palm Springs, Palm Desert, Long Beach, Santa Ana, Anaheim, Riverside, Chula Vista, Irvine, San Bernardino, Huntington Beach, Fontana, Moreno Valley, Oceanside, Rancho Cucamonga, Ontario, Garden Grove, Palmdale, Corona, Escondido, Orange, Fullerton, Costa Mesa, Victorville, Carlsbad, Temecula, Murrieta, Mission Viejo, El Cajon, Vista, Westminster, Santa Monica, Santa Barbara, Hesperia, Newport Beach, Buena Park, Indio, Rancho Mirage, Indian Wells or Coachella, you will have somehow heard there is an economic crisis going on, and that Congress passed a whopping $700 billion bailout plan.

 

What you may not know, is that Treasury Secretary Henry Paulson’s draft proposal for the bailout of financial service firms on Wall Street as it was presented to Congress was an unconstitutional power grab of monumental proportions.

 

Under Paulson’s plan, no oversight, no review and no challenges would have been allowed by the courts, by Congress or by individuals. Henry Paulson had proposed that he effectively be appointed economic czar.

 

Under Section 8 of his initial proposal, which for years to come, will undoubtedly form the basis for questions on bar exams for law students, “Decisions by the Secretary pursuant to the authority of this Act, are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”

 

Under Section 8 of this Act, the Treasury Secretary would arguably have become a more powerful figure than our largely missing-in-action President, more powerful than the head of the Federal Reserve, the SEC and Congress combined, and as such in violation of the Constitution of the United States of America.

 

The draft proposal was in conflict with the Constitution for the simple reason that our nation’s most important document provides that every member of the executive branch, including the Treasury Secretary, is subject to legislative and executive review. Neither Congress nor the executive may delegate its authority to a cabinet member. It would have been like Congress delegating all its power to Sarah Palin, or to a single congressman, or to Superdog for that matter.

 

As hard as it is to violate the nondelegation clause in the Constitution, if there has ever been a proposal to come out of the executive branch which does a good job of it, it has been argued that this is probably the one.

 

The question is, did the President tell Paulson to get a blank check from Congress and to heck with the Constitution or did Paulson come up with this on his own? Did the President and Paulson really believe that if they told Congress they needed this power in 24 hours like the TV show, that Congress, even the Republicans in Congress, would give it to him?

 

In bad times even more so than in good times, we expect the leaders of this country to protect the Constitution of the United States, not to usurp the powers it conveys on other branches of government. Let us hope that in the coming days and months as this country tries to mend itself from this economic crisis, that Congress remembers what the executive branch seems to have forgotten - the Constitution.  

 

If you have a constitutional, or first amendment law issue in San Diego, Newport Beach, Irvine, Orange County, La Jolla, in the Inland Empire, Los Angeles, Palm Springs or anywhere in Southern California, we have the knowledge and resources to be your California Constitutional Lawyer and your Palm Springs and San Diego Business Attorney. Be sure to hire a California law firm with business and constitutional law experience who can serve areas such as Los Angeles, Palm Springs, Palm Desert, Anaheim, Irvine, Newport Beach, Carlsbad, Corona del Mar, Laguna Beach, Huntington Beach, Santa Ana, Rancho Cucamonga, Ontario, Fullerton, Del Mar, San Diego, Orange County, San Luis Obispo, Buena Park, La Jolla, Oxnard, Ventura, La Quinta, and Santa Barbara so you are properly represented.

 

If you have a constitutional, first amendment or business law issue of any kind, call the Law Offices of R. Sebastian Gibson, or visit our website at http://www.sebastiangibsonlaw.com  and learn how we can assist you.



Raymond

bellerophon asked:


How is the bailout going to help the middle class sector of the financial crisis? I don’t know much about this , isnt it for big bank companies?

Lloyd

Anthony Wayne asked:


On Wednesday night the President of the United States, George W. Bush, addressed the nation concerning the proposed bailout of United States banks and tottering financial institutions. Reactions to the proposed bailouts were mixed and even some Republicans criticized the administration’s proposals. President Bush urged for the immediate passage of the bailout plan stating that “We’re in the midst of a serious financial crisis, and the federal government is responding with decisive actions.” Bush also stated that failure to pass the bailout plan could lead to a “long and painful recession.”

The current United States financial crisis has affected stock markets, commodities, and Forex markets worldwide. Confidence in the United States dollar is waning with many people worried that the bailout policies proposed could lead to a devaluation of the United States dollar. The financial crisis could not be more ill timed with the United States suffering a massive debt from the combination of the War in Iraq, rising oil prices, and massive infrastructure damage from recent hurricanes. The average American is already struggling financially and this financial crisis is only making things worse.

The Bush plan calls for the government to buy 700 billion dollars worth of troubled assets. These assets consist mostly of mortgage backed securities whose values have declined swiftly when the housing market imploded. Initially the White House had taken a hard line concerning the bailout plan but has indicated a willingness to compromise in order to ensure a speedy passage of the bailout plan.

The Bush administration compromised with Democrats who demanded that the pay of CEOs of troubled firms be limited. Addressing such concerns Bush stated that the financial rescue “should make certain that failed executives do not receive a windfall from your tax dollars.” Bush also invited both presidential candidates and key congressional leaders to the White House to work out a compromise on the bailout. Bush also warned that failure to pass the plan would result in dire economic consequences such as disappearing retirement savings, rising foreclosures, loss of jobs and closing of businesses.

One can only hope that politicians, for once, can put partisan politics aside and work together on a plan that would benefit both business and the average American worker. With the United States dollar regarded as unstable in some Forex Markets, failure to act could result in a disaster and the voters are not likely to forget such a financial disaster come election time.



Eugene

John Parks asked:


The UAW is one of the prime players in the government’s bailout of the auto industry. It is an accepted fact that the labor cost of an American made car is one of the driving forces behind the cost of the product produced. With the government accepting an equity share of the automobile business, what concessions will the labor union make to save the jobs that they have?

One of the obvious concessions that the union is going to have to make is a salary cut. One of the easiest ways to make the salary cuts to the rank and file is to agree to having the workers with the highest wages take a buyout for early retirement. The big question however is will the buyout eventually hurt the union in the long run.

One of the largest expenses in the labor contract is the retirement and health care benefits that are made to employees who were under union contract prior to the last contract being signed. While senior management members often have golden parachutes waiting for them, line workers often receive $100,000 in buyouts for early retirement along with providential health care benefits. This “golden parachute” amounts to almost 2 years salary for the line worker on an early buyout. Additionally the early retiree is eligible for state benefits once his position is terminated.

In the first quarter of 2008, the three Detroit automakers, GM, Ford and Chrysler offered buyouts to hourly UAW represented employees. These buyouts represented an attempt by the automakers to cut payroll costs. Typically workers who were offered buyouts were older, more highly paid workers. By cutting the costs of the workers with the most longevity who typically make the most money, the automakers look to replace them with younger employees who are entitled to less compensation. This practice will reduce labor costs however the possibility of a drop in the quality of the product produced is also inherent.

One particular problem that the UAW is facing is that as their membership dwindles as union members are accepting buyouts is the growing automobile manufacturing area in the South. These automobile plants in the South are typically foreign owned (Nissan, Toyota and Volkswagen) and are providing serious competition to Detroit. These Southern plants are generally lower paid and non-union plants. The Detroit automakers are saddled with increased competition and the cost of the tens of thousands of buyouts that they have committed to.

The buyouts of UAW represented employees will allow the Big 3 automakers to close plants that have become un-profitable in the recent economic downturn. These plant closures will provide a cost savings to the Big 3 that can be applied to the existing cost of the UAW buyouts that have been offered. The UAW buyouts will in the long run provide a cost savings to the automakers, however it also in the long run will hurt the UAW as its membership continues to decrease. This loss of membership will ultimately damage the power of the labor union in its contract negotiations with the automakers.

For more information on the UAW Bailout, visit http://www.uawbailout.com.



Jacqueline