Bad times can bring out the best and the worst of us. There is a character with a huge heart and apparently stacks of cash for needy folks willing to wait in line for it in Time Square.He has been cast as "Bailout Bill" and he has created a stir because he is giving away money directly to those in need, figuring that the folks on the bottom rung of the ladder need just as much help as those at the top, that the government has been bailing out.
According to reports, In order to get the money people have to go to the 'Bailout Booth' in the heart of Manhattan's Times Square; to a small cubicle, where, depending on your story you can get a cash stipend to help out with a present financial dilemma.
Anyone is eligible if they are willing to stand in line. The handouts range from $50 to a maximum of $5,000. I imagine Bailout Bill is hearing some pretty sad stories and the occasional 'whopper'. You should not have to worry about taxes either because anyone can give up to a $13,000 gift to anyone they want without creating any tax obligation.
I think this is a great idea and I hope the word spreads fast because this is the type of behavior that would be worthy of copycats. The ideal copycat to me would be those Wall Street traders (or traitors, depending on your view) that reaped billions of dollars in fallacious bonuses.
Of course 'my pal Warren' (Warren Buffett of Berkshire Hathaway (NYSE: BRK.A) fame) should have thought of this first and I hope he is reading this or one of his associates passes this along. The board members of every company that has received federal bailout money should also take notice.
This idea can also be extended further. Some people might just need some counsel about how to deal with a short term problem when they cannot afford top tier advice. Ahh -- but free advice might not be worth much and cash is king. Bailout Bill is doing his best to make those in need feel like king for a day.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own of shares of BRK.B.
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Reader Comments (Page 2 of 2)
2-06-2009 @ 9:21PM
gracie said...
Janet Sawyer, President Obama has only been in office a couple of weeks and you're already blaming him for what Bush and the heads of big corporations have done. You have just shown your ignorance!
2-06-2009 @ 9:29PM
JOJO said...
in your stupid opinion janette sawyer people gone crazy since obama took over office? no the people were already crazy when you all voted for bush to run another term. remember as always the black man has to clean up the BIG A** mess your racist old school ex president messed up!!! the recession came from ya man...not from mine....know that..lol
2-06-2009 @ 10:04PM
Me said...
I agree with Cheryl. Janette Sawyer - SHUT YOUR DAMN TRAP! I bet you would be the first in line for that there money...
2-06-2009 @ 10:07PM
Lori said...
Janette Sawyer said...
People have gone completely crazy since Obama came into the picture. He brings out the worse in them. ..............OMG , How freaking stupid can one get???? Obama has been president for what? less than a month? LMAO .. And all this financial crisis started when?? OH YEAH... When Bushy was prez!!!!!!!!!!!!! So all you stupid azz people who want to blame everything on Obama, think about what you say before you look retarded !!!!!! And I am caucasion, you cant blame everything on race.. Thats the problem with this country, all the freaking RACIST... He is the Prez, MOVE ON !!!!!!!!
2-06-2009 @ 10:37PM
Sav said...
Get off your pedastal Cheryl...there was nothing racist about what Jenx said...go back to your Obama altar...
2-06-2009 @ 10:35PM
justme said...
TO: cmnr0912 that said... My husband and I are working to pay off back taxes ( we don't get the breaks that congressmen do)
that his ex-wife failed to file when they were married and to top it all off, we just found out that we have to pay taxes on the combined $60,000 that we made last year. ~~~~~~~~~~~~~~~ Why don't you cry me a river, lady. First of all, why is it the your husband's ex's fault that "she" failed to file taxes....obviously, it was your husband that failed as well. File jointly, and it is a joint effort and joint responsibility. If he wasn't asked to sign the papers, then he should have known something was wrong. His fault too. And...the 2 of you made $60K. You have no right to complain. Shame on you. Many, many people make far less than that, myself included after having been injured at work and had to take an early retirement. Oh yes, I get disability from my employment....phew, a whopping $150. a month. With my pension and that, I have made under $20K for 15 years now and I have both a 1st and 2nd Mtg and didn't get any new tax breaks, but you do not hear me whining about how life sucks! I'm not getting food stamps like some get, or any other kind of help. Cut down your expenses. Watch what you do with your money, be frugal, and you will be surprised how you can live on much less than you once did. I'm very proud of myself that I can make it on my very own, without the help of anyone. I could sit here and complain and be miserable that, oh poor me doesn't have a wealthy life, but what good would that do, other than being miserable. I prefer to be a happy woman and make the best of any situation. A matter of taking Responsibility and quit blaming everyone else for your problems.
2-06-2009 @ 11:01PM
thepugpieper said...
If anyone wants to send me money...please do. I sure could use it too!
Just contact me at thepugpieper@aol.com
2-06-2009 @ 11:27PM
ATLfnst said...
can I have $5,000,000 so I can start my own franchise business?
2-06-2009 @ 11:58PM
bluemoongrafix said...
I'm making and selling NO BAILOUT window stickers and yard signs from my shop in NC.
Website to order is:
http://horseshirtsandgraphics.webs.com
2-07-2009 @ 2:44AM
SMART 1 said...
i sure wish he could come here i desperately could use his help.
and a huge story to tell him.
2-07-2009 @ 3:00AM
walterh136 said...
I tired of hearing all this talk about Bush and Big Business, ruining our country and it's economy...we have and have had a Democratic House and Senate for at least the Last 6 years...the liberals have voted these people in and they have been stealing the money from all the working people of this country,these people knew what was going on with the banks just giving money away,Barney Frank needs to be in Jail...And Finally I'm tired of Racism being cried any time you criticize the President,if he wanted the Job, he's gonna get criticized(sp) like any other President, and so far I'm unimpressed...Were getting Change and Your not gonna Like it.
2-07-2009 @ 9:02AM
calaf21 said...
If everyone who filed a tax return last year were to recieve an equal share of the bail out money, we would each be receiving a stimulous check for $25,000. Don't you think that would stimulate te economy faster and be more equitable than any current fleecing of America?