John Smith for Congress

Corporations

I believe the if it's to big to Fail than it's to big.

I believe the Tax Payer should decided who stays in business with their purchasing dollars.

I believe Share Holders should vote on Compensation of Officers and Board Members.

I believe that Government should regulate not run businesses.

 

Reasoning:

Too Big to Fail:
Recently TARP money was handed out to large corporations that have failing business plans. TARP Money  a total to date of 764 companies that were so badly managed that the Federal Government CHOSE to interfere with Free Market.  To say it's UNCONSTITUTIONAL is a miscarriage of justice. Proponents say "Look the Banks are paying the money back and have record profits."  If they were so good at running a business in the first place, why the Bail Out?  The Banks have increased Fees on it's clients to cover the pay back to the Federal Government.  So the Taxpayer is on the Hook to cover the loans and are paying increased fees to the banks for them to be able to repay the loans.  I call that Double Dipping. Like we did in the 80's for the Savings and Loan issue, The Federal Government waited till they failed and than bought the TOXIC assets. They held them and later sold them, in some cases making a profit.

Tax Payers Decide:
We vote every day with our money. The products or services that are good we buy, if they are poor we don't buy or use them.  This should be the driving force, not what a Government feels should be saved.  This is due to the simple question of who and what decides?  How many favors are due? Who plays golf with whom? Politician are receiving Camping contributions from these companies for all manner of favors and you the Tax Payer pay the price.

Compensation:
In some cases there are board members on several boards and they all agree to OVER PAY their friends with HUGE Bonuses or Stock Options.  Meanwhile the CEO runs the company into the ground effecting the workers employment due to layoff and restructuring. The person who invest in these company stocks are receiving almost no dividends and risk losing their investment. The Old Boy Club should be re-examined and removed.  Allow for competent leadership in the company, dividends to be paid to investors BEFORE bonuses and secure the rights of the workers.

Regulate not Run:
The IRS seized a Brothel in Nevada a few years back for back taxes.  The attempted to Run the establishment for 18 months and FAILED.  If the Government can't sell a wanted service (I make no claim to the legal or moral issues here.) just how on earth are they going to assist GM, AIG,  and the rest of the TARP recipients?  We should regulate to allow the free exchange of products and services across state lines, that what the Commerce Claus is designed to do. We should regulate and investigate, punish the ones Guilty and reward those running correctly.  Common Sense at work.