Thursday, October 2, 2008

Bailout Bill Email to my Representative

UPDATE: I wasn't ever able to get this to go through using the House's email your rep function because they limited the number of simultaneous submissions so as to not overload their servers. I'm happy that Rep. McCarthy voted "no" again even though the bill still passed. At least my representative is actually representing me.

Rep. McCarthy:
I strongly urge you to oppose the latest "bailout bill" just passed in the Senate on Wednesday (1 OCT 2008) when it comes up for vote in the House. I believe it is wrong for a lawmaker to support a bill because of some tacked on pork or tax cuts if the main idea of the bill is contrary to their ideals.

Some of your Republican colleagues are already speaking as if they have fallen into this trap and say they will support the bill now that FDIC limits have increased and there is "a $150.5 billion package of unrelated personal and corporate tax cuts" tacked on. (http://online.wsj.com/article/SB122286874792094117.html?mod=rss_whats_news_us)

Bailing out the companies and investors who, along with the Carter and Clinton Administrations, caused this mess, is not fiscally or morally sound. Neither will raising FDIC limits help "bolster consumer confidence in the banking system." The general public causes bank runs because they don't understand the FDIC in the first place. Raising the limits will only reward those who took a risk and ignored the limits in the first place. The extra insurance will be paid for through inflation.

I do not support my government devaluing my hard earned money to help the people that caused our current predicament. If this bill passes the House and becomes law, the American public and investors will not learn their lesson. They will, instead, learn that they can make risky investments, and, if they go badly, the government will bail them out.

Please vote "no" when this or any other bailout bill comes up in the House and encourage your colleagues to do the same.

Thank you,
Travis Gilbert

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