The Bailout

Please contact your Senators & Representatives about the proposed $700 billion bailout. This is what I wrote:

This is in regards to the proposed $700 bailout plan being discussed right now. Please do not make the mistake of throwing billions of dollars of taxpayer money to the banking industry in a desperate hope that it will cause more good than harm. I am against any plan that uses taxpayer money, or puts us in to debt to relieve these financial institutions of the unmarketable securities. I am livid that this type of irresponsible action is even being considered.

I understand that standing back may seem to be to ignore the problem, but taking the course of action proposed by the President will have consequences that will haunt us far beyond those we are currently facing. I do not want to be forced to pay for the mistakes of those greedy individuals who should have known better.

I would be in support of government backed insurance of these securities as a tool to free up the lending market. I believe there are some Republicans in the House that have presented this as an option. I would also be in support of temporary modification of the Sarbanes-Oxley mark-to-market rules.

I have voted for you in the past because I believed you had the wisdom to handle situations like this in a responsible matter. I hope that I can vote for you again.