Write to your Congress-Critter

I checked the votes on the $700 billion dollar ($700,000,000,000) bailout vote.

YES!

My congressman (Peter DeFrazio) voted against it. (I was not surprised that Democratic Representative Darline Hooley voted for it, but I was surprised the Republican Representative Greg Walden voted for it., and that Democratic Representative Earl Blumenauer voted against it.)

So I sent him (DeFazio) an email applauding his decision ... and I included a few suggestions.

Here's the full text of my letter:

Dear Representative DeFazio,
I want to thank you for your vote against the "Bailout" bill. I agree that this bill was being touted as a 'fix' without justification, and also that it was being rushed into place without sufficient thought and consideration.

Congress for the last week has looked like a convention of Door-to-Door Encyclopedia Salesmen. "Don't worry about reading the contract, you wouldn't understand it."

It is significant that 2/3 of the Republican congressmen went against the wishes of their party leadership (in the person of President Bush) to vote it down.

It is significant that 40% of the Democratic congressmen went against the wishes of their party leadership (in the person of House Speaker Nancy Pelosi) to vote it down.

And it is telling that the Democratic-ruled House could have passed this bill without a single Republican 'Aye' ... and yet there was insufficient party unity to effect this simple walk-over vote.

Perhaps it is time that both parties put their divisive political efforts aside and begin working for America, rather than for Party affiliations. I realize how difficult this must seem in this year of Presidential Election, but considering that neither party has a viable candidate ...

This vote may be important in ways other than requiring, or refusing to require, the American Taxpayer to assume an even more crushing tax burden. It may cause both parties to step back and re-examine their role in ensuring the health of American society.

I encourage you to continue to search for the 'right' solution to our current economic situation, not for the 'quick fix'. I'm not convinced that your "No Bailouts Act" is the best solution, but it is at least evidence of your earnest attempt to find the root cause of the problem.

Surely Congress must take a look at regulation of GSE's, and at the Housing and Community Development Act of 1992.

As a rule of thumb, any bill which is supported by Rep. Barney "Nothing Is Wrong" Frank should be opposed.

And here is a video from a 2004 Congressional Hearing, which depicts Republican Representatives and Regulators begging for oversight on GSE's (Governmental Supported Entities, such as Fannie Mae and Freddie Mac) and the contempt of Democratic Representatives for the words of caution and "nothing is wrong" rejection of these cautions by Democratic Representatives:




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