Why doesn't Obama lead here? This really stinks... my letter to Chris Dodd and Barney Frank below...
Congressman Barney Frank
2252 Rayburn Building
Washington, DC 20515
tel: (202) 225-5931
fax: (202) 225-0182
Senator Christopher Dodd
U.S. Senator Chris Dodd
448 Russell Building | Washington D.C., 20510
fax: (202) 228-0546
fax: (860) 258-6958
Dear Sirs,
Henry Paulson's bailout is ill conceived. It authorizes Hank Paulson to transfer $700 billion of taxpayer money to private industry in his sole discretion, and nobody has the right or ability to review or challenge any decision he makes.
We cannot trust the Bush administration to behave responsibly.
The true culprits and criminals who created this crisis have not been identified and punished.
Banks that have bad debt will be allowed to off load their debt and keep on going.
The plan does not call for anyone to PAY: where are the tax increases on the super rich and corporations?
It's like the invasion of Iraq all over again. Don't rush. Don't accept the conventional wisdom and get it right this time.
Stop it before we mortgage our future to bad bankers.
Sincerely,