than government. At least that's what The GOP and others of our lobbyist bought-and-will-continue-to-be paid-for members of Congress and Blue Dogs will always say. No more Big government! Regulation is bad! Let the free market rule! Well, that's horse-hockey!
Three true stories:
1. Back in 2003 I was reading the newspaper and saw a list of names of people who had long-standing unclaimed assets. The government caused these names to be published so that the rightful owners would have a chance to claim the assets before they were forfeited to the State. Lo and behold there was my deceased grandfather's name. Calling the published telephone # I was quickly told what I needed to do to establish proof of ownership and a few weeks later I had a stock certificate in my hands worth about $3K. Not too bad.
2. Six months ago the IRS told me they thought I owed them more money. I disagreed. Called the taxpayer advocacy office, presented my case and although it took awhile, I got a letter saying the taxpayer advocate agreed with me and I could forget about the problem. It wasn't a smooth-as-silk process, but it worked and my concerns were appropriately documented and resolved. Not too bad.
3. The stock I mentioned above.... Well, in the ensuing years there were some stock splits/reorganizations into component companies and it required me to submit my share certificate to the BNY Mellon company and hold Book-Entry only shares in the new companies. I was forced to sell my fractional shares or buy more to round out the fractional shares in now multiple new companies. The paperwork seemed purposefully obtuse. When it was all said and done BNY Mellon shareholder services gave me an account number and I was supposed to be good-to-go. I can't recall receiving a consolidated statement of my new holdings or a simple-to-understand overall accounting of what transpired. About a year ago I was notified of a proposed holding company buy-out of one of the new component companies and given a chance to vote my miniscule number of shares. The buy-out was approved and I was asked to send in a letter of transmittal selling my shares to the new holding company. I did so. Months ago. Two months ago the BNY Mellon Re-organization Dept. returned my transmittal letter and a form letter stating "If you cease your demands for apprasal rights to get paid a letter must be sent to..." (spelled and punctuated as received).... providing a customer service telephone number if I had questions.
I called. BNY Mellon Customer Service had no idea what the letter meant or what I should do. They had no telephone number for the "Reorganization Department.... or perhaps were instructed not to give it out. After searching the web I got the proper Re-org service number and they too had no idea what the letter means. BNY Mellon now wants me to start over and send a new letter of transmittal just like the one they returned to me months ago. I asked to speak to a supervisor in customer service and was refused. No wrongdoing implied. It's just a big mess.
BNY MELLON scored $3 BILLION of OUR bailout MONEY. Bob Kelly, CEO of BNY Mellon was paid $20 Mil in 2007. In February, while in Dubai (probably residing comfortably in a discreetly inexpensive motel to save money) Kelly stated he opposed limits on bonuses to execs from bailed-out banks because he thinks senior execs would quit. BNY Mellon shares had recently dropped 47% due to the excellent management by himself and these "senior execs." (To my knowledge.)
Thank goodness for the intelligence, integrity, competence and high ethical standards of big financial houses....as opposed to, you known, the sleazy bureaucracy of government regulation intended to protect the citizenry, or the inefficiency, for example, of the Social Security folks who do a big, complex job pretty well every month...and so on.
I'm not for BIG government. I'm for ADEQUATE government. There's a difference, and the party of NO and the Blue Dogs are trying to keep us from getting adequate health care reform or a public option by whining and snlveling about "socialism" and obfuscating the truth.
Do you suppose there's any $$$$$$$$$$ involved? We certainly wouldn't want those health insurance company execs to be denied their lavish salaries and benefits, would we? I myself have decided to forego dental care or something to ensure I can pay more for my health insurance so the CEO can buy a larger yacht and give more to my GOP Senator's re-election campaign.
Oh, by the way.... Thanks, Rahm, for all the support.