Saturday, December 13, 2008

Photo blog of local convention

My ,12/13/08, photo blog of the Genesee County Democratic Party Convention.
I was elected to the Executive Committee.
Its good to be back.
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Ten Minuet slide show, there are several videos

Posted here
Terry Bankert
You are invited to join me on facebook

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What do you think when thoughts of financial fraud come to mind. Enron, Ponzi, a dozen or so names come to mind.

Well here is a new one: MADOFF.

This will be the greatest yet reported rip off of one guy on the financial systems. Rich people will be hit. Its all private money.

Our system will not insure it so the little people will not have to pay for it.

Quite unlike the 700 Billions in upper class reparations we are currently ponying up.

Beyond belief.

This all began with Regan deregulation and mass denial when we unquestioningly accepted globalization and stopped defending our economic boarders.

Now here we are. The middle class is threatened with ruin by the US Senate turning its back on the US auto industry while enriching its friends with the 700 billion given to wall street types.

Maybe that rich class is receiving their poetic justice from the hands of Madoff.

What did Madoff do?

He committed a $50 billion fraud.

He is a former Nasdaq Chairman Bernard Madoff. Impact of his crime is rippling deep into Boston's wealthy elite, forcing a charitable foundation to close and triggering losses by prominent philanthropists.

The people who should know better , private banks have lost billions.

Swiss private banks are estimated to have lost at least £2.5 billion in Wall Street veteran Bernard Madoff’s alleged $50billion (£33 billion) fraud. He was recently arrested.

Madoff was arrested last week after confessing to employees that the business bearing his name was "a giant Ponzi scheme".

He is currently free on a $10m bond. Why?

These are not mom and pop pensions plans lost.

Many of the world’s richest families are embroiled in the saga. Fred Wilpon, owner of the New York Mets baseball team, and J Ezra Merkin, chairman of the car finance giant GMAC, are among dozens emerging as the victims of Madoff’s scheme.

Some call what is known so far as the "the tip of the iceberg".

Who do we trust to keep our financial system stable. Never buy the argument again that is the private sector and free market. These people cannot protect them selves.

This exasperated post by
Terry Bankert




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Help each other now

BY Terry Bankert

On Flint Talk a thread was started suggesting that with our national economic problems I should switch to Bankruptcy.

I decline but here are my thoughts.

Thank You for the opportunity to talk about my specialty , family law. I only practice in this area except for probate/guardianship to get grandparents custody.

For Family Law questions call me at 235-1970 there will be no charge to you for the first office visit.

This blatent advertising is brought to you because there is hardship in the legal community also. In my specialty it seems there is an in- migration of attorneys that in the past practiced family law then moved on to the big money.

They are back chasing an overall reduction in the client base. People are leaving. I do not practice bankruptcy, but I used to and have several atty I refer to .
Some of my older advertising still carries it.

My thoughts.

1.Its only fraud if you move assets around just before you file for bankruptcy. I do not recall the look back, 6 months comes to minds.

2.Every body should cut the discretionary spending. Drunks should get sober.

3.If there is no value in your home do not be attached to it. Down size if you have too.

4.The economy is tearing families apart. My observation is that "The Grass is not greener on the other side". Families can part, married couples can have orders for custody, child support and parenting time" without divorcing. Mom can move in with family dad can leave the state for work.

5.What does a good parent pay in child support? It is a formular based upon number of children, overnighs of the parents with the children and gross/net incomes.

The State of Michigan through the legislature and Supreme Court has said that this formua is what is fair. If you lose your job have your child support order reviewed immediately. File a motion. It could go up or down.

If a Working Mom with kids loses her job her child support could go up.

If the Dad loses his job his child support could go down. The State of Michigan has non retroactive modification of child support.

[Somebody change this law...quick.]

Your child support is not changed any farther back than when you file a motion not when you actually lost your job.

My plan is to learn everything I can about free services for families in economic distress, Possibly a thread on this board could be just to give information to those in need....Steve?Or Blogging for Michgian?

I will talk about this topic on my radio show 9 am WFLT 1420 AM today.

It is a call in show 1-810-239-5733.

Governor you are invited to call.

I will be at The Genesee County Democratic Party Convention today.

I plan to photo blog.

Terry Bankert

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