When Congress passed the $700 billion bailout plan, the goal was to help Americans who are being hit hardest by the mortgage foreclosure crisis. Now that nearly half of that money is in the hands of big banks like Citigroup, JP Morgan and Goldman Sachs, how is it being spent?
No one's talking. The banks are refusing to say how our taxpayer dollars are being used. All we do know for sure is that the original problem that caused the economic collapse -- housing foreclosures -- is getting worse, not better.
Tell the top banking industry recipients of bailout funds that "we the people" have a right to know how our money is being spent!
A little transparency is not too much to ask. Please take action today!
Congress passed the $700 billion bailout plan with the intention of helping Americans who are being hit hardest by the mortgage foreclosure crisis.
As one of biggest beneficiaries of that bailout, you have an obligation not only to help struggling homeowners, but also to use our taxpayers dollars in an open and transparent manner.
We are calling on you and other large banks to disclose -- immediately and in detail -- how you have spent the millions of dollars you received in taxpayer-funded bailout money.
Communities across the nation are suffering as foreclosures continue to drain resources from services like local police, fire, rescue and public education. The bailout funds must address these issues. And the first step to assess whether the bailout program is working is a complete accounting of how the money is being spent.
We look forward to your response.
