'Bailout Bill' giving away money in Times Square -- big heart and wads of cash

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 of 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 wrung 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 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 ownes of shares of BRK.B.

Tags: Bailout Bill, BailoutBill, BRK.A, BRK.B, cash, charity, helping the poor, HelpingThePoor, Sheldon Liber, SheldonLiber


Source: bloggingstocks.com