I believe that the financial crisis is real and that action must be taken soon if the government is to attempt to alleviate the problem. However, there has been no reassurance by any party, including the originator of this bailout, Mr. Paulson, that this plan will be effective, or further that it will be the final step needed to avert this crisis.
Per the petition submitted to Congress by highly respected economists we would be better served by a commission process whereby experts and congressional members could formulate a plan with care and consideration.
Therefore, I respectfully suggest that Congress consider passing the original draft of the Paulson plan with one important caveat. Reduce the funds available to Paulson to $100 Billion. This should be enough to calm the markets for a time while a commission is formed to study the problem more deeply and create a bill that includes investment and regulation that will have a lasting impact.
I believe such a compromise will pass easily and will reassure the American people that our congressional representatives see their constituents, not the failing financial corporations, as the first priority.
Sincerely,
A Taxpayer