Write your Congressmen

Wednesday, November 12, 2008

Open Letter to Congress: Had it with money-grubbing barstards

Sirs:

At first I was in favor of the $700B bailout of Wall St. But now no more. ABC is reporting that these same companies who are to be assisted by federal money are planning to give out $11B in bonuses to the same people who caused the crisis. That's not right.

http://abcnews.go.com/Business/Economy/story?id=6230878&page=1

There are 3 things I would like to see happen to the bailout money:

  1. NO bailout for the auto industries, unless it involves a complete suspension of the contracts concerning labor. The UAW is single-handedly responsible for the bankruptcy of this entire industry. It's time the workers were paid what they're worth, which is approximately half of what they get. If they don't want that, I can think of 12 million illegal aliens who will happily do the work.
  2. The Wall St bailout - for which the 700B was originally intended, must be rescinded. If they have enough money to give out bonuses, then they have enough to rescue themselves. And if they don't, then so be it. Americans will have to hunker down and wait until the storm passes. Yes, it will be bad, but we have no other way to learn. Perhaps we're too far away from the Great Depression to really feel what it was like.
  3. Now, even cities which have mismanaged their own tax revenue are trying to get their claws into the bailout money. The money was never intended for that, and repercussions should be swift and severe, but local, for the politicians responsible for those problems. Philadelphia comes to mind. Philly elected that idiot of a mayor; they should deal with him, not the country. No taxation without representation?
In sum, I urge you to withdraw the entire $700B package immediately, and rescue no one.

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