Bailout Debacle

Bailout Debacle


September 28, 2008

Two things that must be a part of the Bailout:

1-Abolish short-selling in the markets. Short-selling was no less a contributor in this 2008 debacle than in the 1929 Crash.

2-Strip all provisions regarding the 20% giveaway ($140 Billion) to ACORN, National Community Reinvestment Coalition, etc. and repeal the Community Reinvestment Act. This Act is destructive.

Otherwise, we will never be convinced that there truly is a problem that is being sold to us, that anyone in Washington is truly serious about ameliorating. It is pretty clear that my party, the Democratic Party, has sufficiently hoodwinked and rolled the administration and republicans who have bought into this plan. I feel confident they have done the same to the population at large.

If these items are not addressed, I predict we will be revisiting this issue within 24 months and it may be so catastrophic that it cannot be fixed.

I hope you vote against the bailout plan unless the above has been effected. It would be better to do nothing, save the abolition of short-selling. I am embarrassed to say that there are many (Democrat) fellow party members who care more about this election and their future than the future well being of this nation.

Steve Matthews
Gr_llc@msn.com

Sent via email to Congressman Frank R. Wolf

See link:

http://en.wikipedia.org/wiki/Community_Reinvestment_Act