Dear Senator: "If you vote for this bill, you will not get my vote in the next election"
Dear Senator/Congressional Leader
The Paulson plan is not workable. It is a sellout to corporate America at taxpayer expense.
Nouriel Roubini: "Paulson Plan is a Disgrace"
On Friday, Nouriel Roubini, the most widely respected economist in the country stated...
"The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown."
Former FDIC Chairman Weighs In
"Bailout Plan Will Not 'Work' in Current Form"
Mad Rush To Financial Judgment
On Friday we heard president Bush and Paulson, preach the same set of lies they have preached before.
In your heart you know all of the above are lies. It was the very same mad rush to judgment that started the Iraq War. We do not need and cannot afford a financial mad rush to judgment.
- There can be no delay.
- Sweeping new Powers for the Fed are needed.
- The Treasury needs $700 billion dollars.
- There is no time to study alternatives.
Thee odds of failure on the Paulson plan are 100%. The Paulson plan will not create any jobs or help homeowners pay their bills. Instead it diverts $700 billion of taxpayer funds to failed banks that took excessive risks. The sheer size of the bailout will cause interest rates to rise, further adding to taxpayer woes.
Long term interest rates are already up a half point on news of this bill. They will rise more if it passes. How is that supposed to help homeowners?
Robbing taxpayers to pay failed banks cannot possibly work!
Printing money and giving it away cannot work either. If it did work, Zimbabwe would be the most prosperous nation in the world.
190+ Economists Slam Bailout
Over 190 top economists in the country have slammed this bailout on grounds of fairness, ambiguity, and long term effects.
Paul O'Neil Is Against The Plan
Former Treasury Secretary Paul O'Neill said today that our nation's leaders -- especially President Bush -- are "in a panic" and haven't thought through the $700 billion bailout plan in a rush to pass it by the end of the week.
"I don't think he understands or knows much about any of this and it shows. It is possible to re-liquefy the credit system without 'We the People' owning $700 billion worth of homes," he said.
BB&T Corp. Chief Executive Officer John Allison critiques the plan
Treasury "is totally dominated by Wall Street investment bankers" and "cannot be relied on to objectively assess" the impact of government policy on the financial industry, Allison wrote in a Sept. 23 letter to Congress.
The letter was verified by Bob Denham, a spokesman for BB&T, North Carolina's third-largest bank.
- What is it that Paulson knows that 190+ economists don't?
- What is it that Paulson knows that William Isaac, former chairman of the Federal Deposit Insurance Corp. does not know?
- What is it that Paulson knows that former Treasury Secretary O'Neil does not know?
- What is it that Paulson knows that small bank CEOs who avoided this mess do not know?
- What is it that Paulson knows that Roubini does not know?
Remember it was Paulson who was telling us all how safe the US Banking system was just a few weeks ago.
Roubini: "It is a disgrace that no professional economist was consulted by Congress or invited to present his/her views at the Congressional hearings on the Treasury rescue plan."
Block This Bill
Our prayers are with you that you have the courage to stand up do what you know you must do: Block This Bill.
I cannot and will not vote for any member of Congress who votes for this bill in its current form or anything remotely close to the current form.
This insane rush to push something through, is wrong. If you vote for this bill, you will not get my vote in the next election. It is as simple as that.
It is time to scrap the Paulson Plan and start all over. Doing nothing is far better than wasting $700 billion in a Wall Street Bailout Boondoggle that puts an already stressed taxpayer in further jeopardy.
Your Phone Number
Please fax everyone on this list.
Sen. Richard Shelby (R) 202-224-3416 or 202-224-5137 (try both not sure which is correct)
Sen. Harry Reid (D) 202-224-7327
Sen. Jim DeMint (R) 202-228-5143
Sen. John Ensign (R) 202-228-2193
Sen. Jim Bunning (R) 202-228-1373
Sen. Chuck Grassley (R) 202-224-6020
Sen John McCain (R) 202-228-2862
Sen. Barack Obama 202-228-4260
Sen. John D. Rockefeller 202-224-7665
Sen. Dianne Feinstein 202-228-3954
Sen. Ron Wyden 202-228-2717
Sen. Evan Bayh 202-228-1377
Sen. Barbara Mikulski 202-224-8858
Sen. Bill Nelson 202-228-2183
Sen. John Kerry 202-224-8525
Sen. Daniel Inouye 202-224-6747
Sen. Hillary Clinton 202-228-0282
Those inclined should also fax their own senators as well.
they're meeting as we speak, so get to faxin', people... Submit To Propeller
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