Video: Flint Coney Island pleads to the President to save Flint MI USA

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This is the Message on Tom Z’s electronic outside bulletin board.
Tom Z’s Coney Island Grand Traverse and Court Flint Mi.
The sign reads:

Please Mr. President Approve Bailout for G.M. .
If they can work. We can work.
To keep Michigan Workers alive and open our doors open.
This message approved
by Tom Z’s. Thank You
VIDEO....VIDEO...
Thumbnail photos
http://www.flickr.com/photos/30366181@N05/sets/72157611262564271/
Slide show http://www.flickr.com/photos/30366181@N05/sets/72157611262564271/show/ --- Posted Here By Terry Bankert 12/16/08

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More financial regulation needed

GOOD MORNING FLINT!
12/16/08 Terry Bankert
http://goodmorningflint.blogspot.com/

The bad news: Current PONZI Scheme King Bernard L. Madoff, former Nasdaq Stock Market chairman and founder of Bernard L. Madoff Investment Securities has ripped off trusted clients for $50 billion. Thats $50,000,000,000.00 . Like an unlicensed garage mechanic he ran an unregistered money-management business.

The good news: This $50 billion figure is only what clients were told they had in their accounts at the firm, not the amounts they originally invested. Madoffs advisory business catered to rich people and institutional investors as well as hedge funds, was “all just one big lie.”

Its been broke for years.

Special thanks are in order for Ronald Reagan for de regulation.

What can we learn from the devastation of Madoff on the private wealthy who flocked like lemming to his high rate of return?

These wizards of finance and scions of privilege are months away from a McDonalds grill job or being a Walmart greeter and receive no pity here. What can we learn from this 1% that has been doing it downhill into our lives.

But again we just might pick up some of these lost investments of the rich. Once again we will bail out the greedy rich while auto workers starve. Really greedy rich people should be excluded from the Securities Investor Protection Act, or SIPA.

We should ask what is wrong with the the business model of funds of hedge funds – which run about $685bn in assets. Just where was the the Securities and Exchange Commission's and its oversight of the investment management industry.

I can just hear the whinning at the congressional hearings. Something must have went horribly wrong for a fraud on such a scale. Barney Frank will play the blame game.

The speaker of the house will be distracted with hand-wringing. The bureaucrats will cart in rewritten rules Audit regulators will spout we told you so.

This predators company ,an investment-advisory business ,was in the gun sights of oversight by the SEC in 2006, they blew it. Other traders said nobody can be as good as Madoff the money people just wanted their profits.

Now Predator Mr Madoff was not a hedge fund manager they were his prey. His profits made all the hedge fund look good so they kept shoveling their client money to him and banked their commission based upon non existent gains.

We need change in this industry. Scrape the current fee structure . Create one that affects everybody good and bad times. The manager should lose when the fund goes down as well as gaining when it goes up.

We need more regulation. The regulatory agency typically examines only 10% of the new funds that are registered. That is not good enough. Madoff did not have a world class auditor looking at him. What are the odds that there was not an arms length relationship.

Rumor has it that rivals to Madoff raised concerns about the fund in 1999.

Our country needs hedge fund manager registration rules. Congressman Barney Frank, D-Mass., is on it stating he plans to introduce new hedge fund manager registration legislation. We will need more staffing for the oversight agencies. Government must control the extremes in our society.

Those extremes of human need and here human greed must be controlled by government. We need professionals in government. We must respect them so they will want to work for us.

What has happened to our country by the breakdown in the self policing controls of a not so free market should end forever the howls for smaller government of those greedy parasitical predators in the financial community.

Or at least we should never listen to them again.

Posted here by Terry Bankert
http://attorneybankert.com/

see........
[1] http://www.ft.com/cms/s/0/2b38a296-cadc-11dd-87d7-000077b07658,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html -

[2] http://www.ft.com/cms/s/0/3367a220-cadf-11dd-87d7-000077b07658,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html?nclick_check=1

[3] http://www.marketwatch.com/news/story/liquidation-madoff-securities-firm-under/story.aspx?guid=%7B668ADFBC-3F1A-45AD-B77C-77B042700EAB%7D&dist=msr_1

[4] http://www.marketwatch.com/News/Story/madoff-arrest-raises-questions-about/story.aspx?guid=%7BE2002EFA%2DC24D%2D453B%2DBF6C%2DEC67992A0A3C%7D

[5] http://www.bloomberg.com/apps/news?pid=20601102&sid=aXWbLI1zC.Oo&refer=uk

109058

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Flint School Closing, do you know the issues?

GOOD MORNING FLINT!
12/14/08
By Terry Bankert
http://goodmorningflint.blogspot.com/

How would you feel if your school were to close in Flint? There is a good chance it may? Do you think it might be a good idea to study up on the why? Our school board will have to take care of the public business and only have open the schools it needs. But which one do we close?


We are waiting for a citizens report calling for half of the Flint Schools to be closed. Now its just a report but the board has to close schools and the sooner the better. Three options are on the table. This will reduce the district from 35 to 18 buildings. The elementaries will take the biggest hit. Do you know where your kids are going to school next year?


There is no financial middle ground if we want the district to stay out of bankruptcy.
We have had a huge drop in the number of students dropping from 46,000 students in the late 1960s to less than 15,000 today.

The report will be presented to the district at Wednesday's school board meeting. Committee of the whole starts at 5:30, regular meeting at 7 p.m., at the Sarvis Center 1231 E. Kearsley Street.
The Flint Journal reported:
• Three possible scenarios will be presented.
• Includes the possibility of closing nearly half of Flint's school buildings, from 35 to 18.
• Two scenarios are 14 elementary schools, two middle schools and two high schools; and 12 elementary schools, three middle schools and three high schools.
• Will name specific elementary schools recommended for closure but doesn't name secondary schools.
• Building a new high school and a couple of new elementary schools.
• The idea to return to "neighborhood elementary schools."
• Pre-school programs in every elementary school.
• Turning Flint schools into "green schools" that would make the district a model for other schools around the country.
• All schools having uniform standards so that there would no disparity between the quality of facilities,
• Massive building renovations and finding different ways to use school buildings.
• Improved maintenance plans to keep facilities in good shape.
• Possible ways to fund each scenario, which could cost at least $140 million. Could include a millage that would go to voters, bonds that would not need community approval, grants and other resources


Following is an educational series several volunteer put together previously to help you understand educational issues. I hope it helps you understand so you can create your own opinion and help to save public education in Flint MI. I hope to see you at the meeting.


Educational seminar Posted by PUBLIC DEVELOPMENT http://www.myspace.com/publicdevelopment

Public Develpment is a nonprofit organization that engages citizens with community issues, ideas, concerns, people, technology & solutions through the utilization & creation of public media.

Part one http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoid=1979914808 On February 10, 2007, concerned Flint citizens again gathered at a workshop sponsored by Flint Attorney Terry Bankert, to address the future of the Flint Public School System. In this installment, Jim Richardson of the Great Schools Initiative outlines the "9 Standards for Great Schools" and more.

Part two http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoid=2002293748 On February 10, concerned Flint citizens again gathered to address the future of the Flint Public School System. In this installment, 2007 Board of Ed. candidates introduce themselves & MCC political science professor Paul Rozycki outlines a history of public schools in Michigan.

Part three http://vids.myspace.com/index.cfm?useaction=vids.individual&videoid=2011191656 On February 10, concerned Flint citizens again gathered to address the future of the Flint Public School System. In this installment, former Beecher School Board Member, David Grant, outlines how his district addressed many of the same challenges now faced by Flint public schools.

Part Four http://vids.myspace.com/index.cfm?useaction=vids.individual&videoid=2012925757
On February 10, concerned Flint citizens again gathered to address the future of the Flint Public School System. In this installment, mayoral candidates Dale Weighill & Norm Bryant address the audience. Then, former State Rep. Jack Minore discusses how schools are funded.

Part Five http://vids.myspace.com/index.cfm?fuseaction=vids.individual&videoid=2012977945 On February 10, concerned Flint citizens again gathered to address the future of the Flint Public School System. In this installment, former State Rep. Jack Minore continues his discussion of how schools are funded.


Posted Here by
Terry Bankert
attorneybankert@yahoo.com
see
http://www.mlive.com/flintjournal/index.ssf/2008/12/flint_schools_to_detail_plan_t.html

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