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Emergency Letter to Congress : 5 Dangerous, Disastrous Things About the Proposed Bailout & What To Do To Stop It

US Politics & Gov't  (tags: bush, bail-out, Congress, emergency, public, protection, petition, Take Action )

Alba
- 68 days ago - alternet.org
Help stop the economic hijacking before it's too late. Sign & send emergency letter to Congress now, and tell them: No $700 billion blank check to the Bush administration for Wall Street. Demand 3 basic principles to protect the public !
Comments

Pamylle G. (111)
Thursday September 25, 2008, 8:51 am
Signed !
 

Marion Y. (244)
Thursday September 25, 2008, 8:53 am
Good article, Jill. I subscribe to AlterNet too and value their insight. We must not give Bush this going away gift that will devastate the US.

Tell Obama and McCain we want a real debate on the economy NOW!
This petition closes today.
 

Whoever IAm (169)
Thursday September 25, 2008, 8:54 am
Thanks again Jill - signed!
 

Suzanne J. (25)
Thursday September 25, 2008, 9:43 am
Thanks,signed and noted!
 

Jim Phillips (1625)
Thursday September 25, 2008, 12:25 pm
Petition signed.

I do wonder what the text and wordings will be in the final draft.

Let's not forget that bush will one line itemize the final draft.

I am not optimistic with this situation, the "Bailout" at all. It is more like the Grand Theft of USA. The average "Blow George" will not benefit from this financial disaster.


TY, Jill.

 

Dusty R. (1094)
Thursday September 25, 2008, 12:50 pm
I get these too........signed and have posted. Thanks Jill
 

Marion Y. (244)
Thursday September 25, 2008, 1:04 pm
Jim...I agree. I'm afraid to look at the outcome because I just know Bush will get his wish. The dems are spineless due to extortion, blackmail and Cheney's rifle.
 

Corinne D. (87)
Thursday September 25, 2008, 1:09 pm
Signed.
 

Alba Nuova (58)
Friday September 26, 2008, 12:24 am

Please - SIGN all the petitions from my other posts !

It's not over -- the talks degenerated into a verbal brawl at the White House last night:

NY Times reports: Talks Implode During Day of Chaos - Fate of Bailout Plan Remains Unresolved

Guardian reports : $700bn bail-out stalls as recriminations fly over McCain intervention

Washington Post reports : Sen. Shelby Calls Plan 'Flawed From Beginning'
Economists Question Basis of Paulson's Plan
 

Cherida Hivale (42)
Friday September 26, 2008, 2:04 am
signed
 

Pete Conrads (88)
Friday September 26, 2008, 2:16 am
Signed and noted Jill, thanks for the froward Kelli
Namaste
 

Hans L. (1033)
Friday September 26, 2008, 3:54 am
Jill this is insane! Thank you i am afraid that they will get away with it!

1. They're Making Longtime Wall Street Honcho Henry Paulson Into an Emperor!

We just can't get over this little tiny section in the Bush-Paulson plan. Just 32 words long, it says that the whole thing is up to Paulson's "discretion" and "may not be reviewed by any court of law or any administrative agency." That's like burning the Constitution! What happened to the separation of powers -- to checks and balances?

2. They Want the Fox to Guard the Henhouse: Wall Street Brokers Will Decide Which Wall Street Brokers Get a Piece of the Pie!

Believe it or not, Henry Paulson, who was a key player in creating this mess in the first place as the CEO of brokerage giant Goldman Sachs, wants to "outsource" the buying and selling of all these junk securities to Wall Street money managers. Remember, there are no restrictions on what they can do -- their actions can't even be reviewed by the courts!

3. They Want to Establish American Socialism for the Richest, and Dog-Eat-Dog for the Rest of Us!

Another thing that's sticking in our craw is that this outrage is being pushed by the very same politicians who passed the horrible bankruptcy "reform" bill in 2005. That law actually made the mortgage situation worse, because it kept ordinary people from getting out from under a pile of consumer debt, and many more ended up losing their homes as a result.

When Bush signed the law, he said, "America is a nation of personal responsibility where people are expected to meet their obligations," but that only goes for the Little Guy -- the Big Boys get to make a mess and take no responsibility for it at all!

4. Nobody Knows How Much They'll Really End Up Pilfering From the Treasury!

The headlines all say that it's a $700 billion bailout. But the plan that Bush put together only says that Paulson can hold onto $700 billion in bad securities at one time! He can buy some, sell 'em at fire-sale prices and then buy some more. Even worse, nobody knows what the final bill will be, because nobody knows what all those bad mortgages are worth.

5. They Want to Borrow All This Cash to Give to Wall Street, and Foreign Banks Too!

And, remember, the government doesn't have that kind of money lying around -- it'll all be borrowed cash, sending the deficit through the roof.

When Bush came into office, he had a budget surplus. Then he got us into a trillion-dollar war in Iraq and at the same time gave all these huge tax cuts to the same people who are most responsible for this mortgage mess. He was set to pass a half-trillion-dollar deficit to the next president -- now, it'll be even higher! If the bailout passes, our children will still be paying for it for decades to come.

And Paulson says he even wants to let foreign banks get their snouts into the trough as well. It's crazy!
 

Past Member (0)
Friday September 26, 2008, 4:00 am
done!! ridiculous that we have to but it is a must. they really think we are stupid -it pisses me off!!
 

Dh H. (0)
Friday September 26, 2008, 6:26 am
Thanks for the easy instructions. Signed,submitted and duly noted!
 

Eduardo L. (111)
Friday September 26, 2008, 7:19 am
Petition signed. Thanks!
 

Terrie Williams (307)
Friday September 26, 2008, 2:44 pm
Signed. Thanks for posting this!
 

Eric S. (2470)
Friday September 26, 2008, 2:55 pm
China has stopped lending to US banks.. See another Care2 news article about that. If the rest of the world follows and stops buying Treasuries, the troops will be home VERY SOON, as that is what is driving the Iraq war... A collapse might be just what we need.

Also, plese note the following; if we handed out $400,000 GRANT to each adult, that would total only $80 Billion dollars. Let the large monopolistic corporations fail, and start over fresh with small companies. Why not bail US OUT, instead of the corrupt corporations?

http://www.care2.com/news/member/979852695/891381
 

Carolyn T. (205)
Saturday September 27, 2008, 12:47 pm
Noted. Signed as well. Feel as though my slim pocket is being picked....yet again! Thank you for posting this, Jill!
 

Dar D. (207)
Saturday September 27, 2008, 10:32 pm
Very noted snd actions taken, thank you.
 
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