Hey Everyone,

We wanted to pass along the latest facts on the current proposed Economic Stimulus Act in Congress.  This was a review from the NAR that every Realtor should read:

http://takeaction.realtoractioncenter.com/campaign/eesa/explanation

If you have a client you want to refer to the Atlanta Metro area, please email our Top Producing Team of Real Estate agents at TeamLee@TeamLeeHomes.com or visit www.TeamLeeHomes.com.

Take Care,

TeamLee

 

 

2 Comments on Economic Stimulus Act Facts

SEP
30
2008

WE SUPPORT THE ACT>>>DO YOU?

6:54pm • #1
230,012 Points 1 Featured Post Outside Blog

Not at this point and here is why:

Put Brakes on the Bad Guys:  Congress wanted to curtail perceived "bad acts" of executives who made big bets and lost.

  • Assure that skilled asset managers who buy and sell TARP assets have no conflicts of interest with prior employers or firms.
  • No golden parachute or severance payments to executives of companies that sell assets to TARP.  If a company that sells assets to TARP does make any post-employment payments (other than retirement compensation), the executive (not the company) must pay a 20% excise tax.
  • If a company sells assets to TARP, then no tax deductions for salary or other compensation will be allowed if a worker's compensation package is more than $500,000.  
  • All financial regulatory agencies are required to cooperate with the FBI in its investigations of fraud, misrepresentation or malfeasance in the selling or advertising of financial products.

This is not going to happen.  Read the above - it is still a 'Golden Parachute' with the exception of the FBI threat in my humble opinion.

7:04pm • #2

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Jonathan & Natalie Lee

Villa Rica, GA

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Prudential Georgia Realty

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