Today I sent this letter to my representatives in Washington.
I’m writing to express my outrage over the proposed seven-hundred billion dollar bailout of banks negatively affected by the housing crisis and ask you to not to support any additional bailout propositions of private companies.
I write fully aware of the consequences of not funding such a proposal, as outlined by the Federal Reserve Chairman Ben Bernanke and Secretary Paulson.
However, establishing a precedence of bailouts may pave the way for riskier financial behavior if we culturally establish, as the norm, bailouts for the largest companies. We need to reject the selfish notion that corporate America can rely on government in bad times, while in times of prosperity exist independently in lavish profits.
Additionally, whispers of fraud, amid the troubled banks, circulate. Demands from executives to safegaurd bonuses made. And our financial leaders in Washington tell us to refrain from conditions lest the banks will reject the bailout.
Rewarding such behavior with a blank check is at best foolish; at worst, criminal.
I am asking you to reject any federal bailout intervention, as my representative. More specifically, I cannot vote for any Politian that supports corporate welfare.
Tell the banks they will have to pull it together. Americans have surmounted greater challenges. Creative thinking, innovation, and sacrifice are not lost and none can take it from us.
Sincerely,
W.R.R.
But as for me… I will keep my word and vote on the issues. Republican, democrat or independent. Whomever takes a stand against corporate welfare.
