After reviewing the hearing this morning, Paulson and Bernanke would not give Senator Dodd, Shelby (R) and others enough assurances that it would solve the problem. If it does not work, the government would be out of options. It would be a disaster. Unless they can give solid assurances, then it is too great a risk. It is clear - based on past Republican policies - that we need to pass through a difficult time in this country's history. Congress should not be foolish and give the power of the purse away at the first sign of doom. We need to keep our options open in case something worse happens.
The only way to solve this problem is to be cautious and pass new laws that prop up the most important parts of our economy - the people. We need to make sure they hold on to as much wealth as possible. The people can survive tight credit if they know they won't lose their homes and have enough to feed their families. WE THE PEOPLE need to be protected, not institutions.
It is obvious that the system is broken and it needs to be repaired. Let's repair it first, then flood it with new money. Bush and his cronies are not worth risking trillions on. They have already gambled and lost too much of our nation's wealth. The risk of going slow and taking more prudent steps outweighs the risk of throwing good money after bad - or placing it directly into the hands of discredited officials. I'm begging you to please visit http://www.votenobailout.org/ and STOP THIS LEGISLATION NOW!
Tuesday's Call to Action #1 - Michael