Tuesday, September 30, 2008

Why Rescue is needed/Who's also to blame

Please watch the first 3 minutes of the first video below so you'll understand the impact of this crisis on you. Then watch the info on who's also to blame for this mess. When you're done, contact you're congressional representative and let them know how you feel. Check out the list to see how your Representative voted, then tell them how you want them to vote. Currently representatives are receiving letters of 20 to 1 running against the bailout. I'm a fiscal conservative who absolutely hates the idea of a bailout, but the truth is, we've done nothing till now, and after last night's bailouts by European countries of large European banks, its obvious that doing nothing is no longer an option that works.

We need to stem the fiscal hemorrhaging before there's a global economic collapse. Sovereign weatlth funds (foreign goverments who invest their money in the US) have begun to pull their money out of the US stock market and out of American banks during the last week. If we don't bring confidence and faith back to our banking system, we can lose more than our retirements, we will eventually lose our jobs. The real truth is, our Government does not have enough money left to help you or me to bail us out. Think about that if you decide to do nothing.

If you want to make an informed decision before contacting your Congressional Representative, then check out the draft language of the bailout legislation.

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