BAILOUT: Yes or No?

[Divinus Arma]

Email I sent to my congressional representative:


Dear ************,

Regarding the bailout being discussed, I would like to briefly communicate my opinion so that you may better have an understanding of the feelings within your district.

It seems that we are rushing into this without taking the necessary time to ensure that this is done correctly. A market economy must be allowed to feel pain from the poor choices of its players. A bailout may actually serve to increase risk-taking by large companies, since they will not be held accountable for their decisions. Allowing these firms and their executives to parachute to safety while the average American investor, most of whom are investing for retirement, falls to their financial ruin is simply unacceptable.

This bailout seems like a dangerously rushed expansion of government. Crisis is always the friend of the state, and our current economic hiccup is no excuse to consolidate additional power into the hands of the few and the unaccountable.

Thank you for your time and consideration on this very important issue.

Yours Truly,

*******************


Anybody else contact their congressman/woman?

[Strike For The South]

Email I sent to my congressional representative:


Dear ************,

Regarding the bailout being discussed, I would like to briefly communicate my opinion so that you may better have an understanding of the feelings within your district.

It seems that we are rushing into this without taking the necessary time to ensure that this is done correctly. A market economy must be allowed to feel pain from the poor choices of its players. A bailout may actually serve to increase risk-taking by large companies, since they will not be held accountable for their decisions. Allowing these firms and their executives to parachute to safety while the average American investor, most of whom are investing for retirement, falls to their financial ruin is simply unacceptable.

This bailout seems like a dangerously rushed expansion of government. Crisis is always the friend of the state, and our current economic hiccup is no excuse to consolidate additional power into the hands of the few and the unaccountable.

Thank you for your time and consideration on this very important issue.

Yours Truly,

*******************


Anybody else contact their congressman/woman?

Thats very good. Im to angry to articulate something like that now. My letter would consist of profanities and death threats.

[Koga No Goshi]

Good letter, Arma.

[KukriKhan]

Div A was much kinder and more polite than I was in writing to Boxer, Feinstein, and Bilbray.

[Tristuskhan]

Let the Market work. And meet it's fate of headless chicken.

[Hosakawa Tito]

As much as I hate the thought of a serious and long economic depression, and what that may mean to my retirement plans and investments I've accumulated and worked for toward those goals...I hate the thought of giving a taxpayer financed blank check to these robber barons even more. Let them fleece their own company shareholders for that golden parachute, because the Got Rocks will always be first in that line no matter who the rube happens to be. The future generations don't deserve this burden.

That is an excellent letter Div A. Respectful, firm and to the point.

[ICantSpellDawg]

Let us burn. Maybe we'll be better for it.

[Proletariat]

What Lemur and Tuff said. Let it burn and if we have half the mettle we boast, let's wait and see what rises from the ash.

[drone]

Let us burn. Maybe we'll be better for it.

That which does not kill...

I'm leaning towards the no-bailout side. There's too much coming down the pike to blow our wad now. Once the mortgage securities are dealt with, what's next? IIRC, there is approximately $700 billion in securitized credit card debt. Ford and/or GM may bite it soon, they are already asking for loans. State and local governments are struggling.

Plus, we are going to need this money to build a wall big enough for all the backs that need to put up against it.