Gradually degenerating into ignorance and complacency.

Monday, March 23, 2009

more power to the people

While AIG will rename itself, it occurred to me that taxpayers should have a newly enactable power:

alter loan rates.

That's right! If taxpayers loaned banks money, then they could:

create new fees:
$1 million for late payment plus $100,000 fee for processing for each occurrence.
change of services fees--any services altered (reduced or reassessed at high rates/fees) at any bank receiving stimulus monies will result in an immediate penalty fee of $1 million and an increase of rate equal to or greater than the increase in fees.
Since taxpayers are not competing for business and they are the sole loaning "institution", they can set the rate higher than market value without prior notice and is not subject to arbitration.
non-teller fees--to compensate the job loss for persons not filling the role of tellers for the loan, fees may range from $1,000 to $250,000 depending on locality.
recycling fee--to offset the use paper use and electronic filing and government required hard-copy filing with undisclosed varying rates
without prior notice, loan may be re-assessed to match current market economic need of loaning body (taxpayers)

This could extend to all "bailout" packages to companies and third parties.

Put power and money back in the hands and control of the taxpayers--it's their money.

--- another additional option could be to require all companies (third parties, including individuals) must rename themselves to any name (including previous or current name) with the same font size inclusion of "owes American taxpayers great respect, thanks, and timely repayment of the loan".