Senate to try the bailout again

On Wednesday night Oct. 1st the U.S. Senate plans to try and ram this Socialist agenda Cover-up / Bailout bill down our throats again.

I direct your attention to this article, which although sort of long and hard to follow explains in detail how this housing bubble and financial mess got started. As you read it you MUST remember that it is not an indictment of any racial or ethnic group. It is however a stinging indictment of the incumbent politicians and bureaucrats that promoted the policies.

A very good speech given on Sept. 30th by Former speaker of the house Newt Gingrich outling the dangers of mark-to-market and how Sec. Paulson has a lot of explaining to do to the American People.
Newt Speech To The National Press Club Currently this speach is on Newts Featured Video Page. If it should become unavailable there I will link to it from elsewhere.

Now read the rest of what I have to say.

Your voice can be heard. The House Failed the Bailout measure on Monday because of YOU! The capital was inundated with phone calls, emails, letters and faxes reminding Congress they to have an election coming up. Do Not Stop.

Below is my letter to both of my U.S. Senators Kay Bailey Hutchison and John Cornyn. Use it or write your own but either way send it to them quickly.
If you do not know your Senators then just go toGoogle.com and search for "US senators (insert your state here)" then go to their websites and look for the "Contact Me" or "How to Contact Me" links.

Senator ,
As I understand it the U.S. Senate is slated to take up the Bailout measure that failed in the House. It was a great day for our country and for our Free Market Capitalist system when that measure failed.

This bill amounts to a cover up and bailout of the failed policy of Social Engineering the Government has been attempting basically since the Johnson Administration. The Clinton and Bush administrations pushed the envelope of “Affordable Housing” forcing mortgage lenders to make risky, if not down right fraudulent loans that are now defaulting. This Bailout (call it a rescue or what you will) undermines our Free Market system and crosses a dangerous if not Socialist threshold of Government intervention and control of private business.

Aside for the obvious fact that it is the wrong thing to do and the people do not want it, as evidence by the virtual landslide of phone calls, emails, letters and faxes received by most if not all members of congress. This legislation also crosses Constitutional lines. Congress is not granted the power of benevolence nor is Congress granted the authority to buy up or interfere with the failure of private enterprises. Show me in our Constitution where this authority is granted.

Our Free Market system works, as evidence by Tuesdays rebound in the markets and the ongoing merger or sale of failing institutions. We are not in a Depression or a Recession. Look up the proper definition of both and you will be amazed that it is vastly different from what is being preached from the media pulpit. Unemployment is at a level that not long ago was said to be Full Employment. GDP is showing positive growth albeit slower than we would like. The vast majority of Americans are paying their bills on time and most businesses out side of the financial sector are not suffering.

Weak and reckless institutions that do not act in the best interest of the business and the shareholders are supposed to fail. We must let the market work this out for itself.

If Congress feels a need to intervene then you must do it sensibly. Repeal Sarbanes-Oxley to remove the ridiculous Mark To Market rules. Extend and increase existing tax cuts across the board. Then Remove the social engineering mandates of the “Affordable Housing” initiatives.

Measures like this make me think of Congress as a used cars salesman, i.e. When someone is trying to get you to hurry up and make a decision, it is usually because
they don't want you to see the fine print. Why is this so important that we
are rushing to get this un-wanted bill signed? What is the fine print going to cost our children and grandchildren?

Sincerly
A very conserned tax payer and voter.

On a side note, If this cover-up / bailout bill passes we will have to change the name of our country. I have coined two names, you decide which one fits best.
United Soviet Socialist States of America
or
The Peoples Republic of American States.

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