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Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

9 section comments

Title I - Authorizing the Treasury Department to Buy Mortgage-Related Assets

Sec. 7. Funding.


For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure.


General Comments on Treasury's Legislative Proposal From Treasury Department for Authority to Buy Mortgage-Related Assets

anonymous on September 22, 2008

So does this mean that the Secretary can sell off the securities and give them back to the banks as a "deposit" at 0% interest? Subchapter 2, 3122: Banks and trust companies as depositories:

http://www4.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00003122----000-.html

Also, the rules which cap administrative expenses don't seem like they would apply as they only apply to bonds, notes, and certificates of indebtedness:

http://www4.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00003129----000-.html

Overall section (chapter 31 of title 31) is here:

http://www4.law.cornell.edu/uscode/search/display.html?terms=chapter%2031&url=/uscode/html/uscode31/usc_sup_01_31_08_III_10_31.html

Anonymous on September 23, 2008

Change wording to "Treasury reserves the right to print money to fund operations described herein. In the event that not enough paper and ink can be procured, bank accounts will have one or more zeros (0) added to them."

Kosta J. Moustakas on September 23, 2008

Dear Secretary Paulson,

My Proposed Plan would be to issue MTN ( Medium Term Notes) they would be AAA/aaa rated Cash Backed Bank Debentures. They would be issued by the Federal Reserve Bank of the United States. They would be sold Globally in US Dollars. The issuance would be by Top Financial Institutions in the World. Terms : 10 years and (1) Day Interest: 7.5% Seasoned Securities Transaction Codes would be Depository Trust Corporation and Euroclear The Ratings would be S&P AAA / Moodys aaa issue 250,000,000,000 Min to 1,000,000,000,000 Max the Projects would be for Fannie Mae, Freddie Mac, AIG, Financial Institutions, General Motors, Chrysler, Ford, Alternative Energy and infrastructure investments domestically. I would call it the AIG GLOBAL BOND backed by the full faith and credit of the United States of America. Project Funding would be what is needed to fund the growth of our new global economy. AIG component would pay for itself, just as the Big 3 and investing in alternative energies. There is a tremendous market globally for MTN's and we are the country that the world tries to match but can't duplicate. We need to turn this around by investing in our country and giving the world an opportunity to participate.

Kosta J. Moustakas President and CEO KJM Securities, inc. Bronxville, New York

Kosta J. Moustakas on September 26, 2008

Issue a Global Bond

Treasury Secretary Paulson I have proposed a plan that will work for all of our friends around the Globe. For as long as I remember, we have helped others all around the world. My proposal will spread out our risk of any rescue package,and will benefit all who participate. The time is now and the market is there. An (A)merican (I)nvestment (G)uaranteed Global Bond.


(A)(I)(G) Global Bond sold in US Dollars


Facts are simple

Goldman Sachs Raises Billions JP Morgan Proposes to raise Billions. Other Cenrtral Banks are lining up.

We are the "Worlds Envy" The time is now. Please consider My Plan Re: MTN's

Kosta J. Moustakas on September 30, 2008

GLOBAL BOND Issue a Global Bond

Treasury Secretary Paulson I have proposed a plan that will work for all of our friends around the Globe. For as long as I remember, we have helped others all around the world. My proposal will spread out our risk of any rescue package,and will benefit all who participate. The time is now and the market is there. An (A)merican (I)nvestment (G)uaranteed Global Bond.


(A)(I)(G) Global Bond sold in US Dollars


Facts are simple

Goldman Sachs Raises 10 Billion JP Morgan raises 11.5 Billion. Morgan Stanley raises 9 Billion. Citigroup to raise 10 Billion. Fortis Dexia Other Central Bank capital injections.

I think we as a World leader can raise Globally 700 to Trillion ? Other Central Banks are lining up.

Kosta J. Moustakas on September 30, 2008

I think all of congress should hop on YOUTUBE and watch Whitney Houston perform the Star Spangled Banner at Super Bowl XXV ...and remember we are the United States of America. We are the best investment in the world. Is this the generation that wont do as well as their parents ? I dont think so .

Global Bond

Kosta j. Moustakas on October 6, 2008

Dear Secretary Paulson,

My Proposed Plan would be to issue MTN ( Medium Term Notes) they would be AAA/aaa rated Cash Backed Bank Debentures. They would be issued by the Federal Reserve Bank of the United States. They would be sold Globally in US Dollars. The issuance would be by Top Financial Institutions in the World. Terms : 10 years and (1) Day Interest: 7.5% Seasoned Securities Transaction Codes would be Depository Trust Corporation and Euroclear The Ratings would be S&P AAA / Moodys aaa issue 250,000,000,000 Min to 1,000,000,000,000 Max the Projects would be for Fannie Mae, Freddie Mac, AIG, Financial Institutions, General Motors, Chrysler, Ford, Alternative Energy and infrastructure investments domestically. I would call it the AIG GLOBAL BOND backed by the full faith and credit of the United States of America. Project Funding would be what is needed to fund the growth of our new global economy. AIG component would pay for itself, just as the Big 3 and investing in alternative energies. There is a tremendous market globally for MTN's and we are the country that the world tries to match but can't duplicate. We need to turn this around by investing in our country and giving the world an opportunity to participate.

Kosta J. Moustakas President and CEO KJM Securities, inc. Bronxville, New York

posted by Kosta J. Moustakas at September 23, 2008