What Would You Do With Your $700,000,000,000?

I just wrote my congresswoman about Bush's proposed bail-out. Here is is:

Honorable Chat Wrecker's Congressperson,

I'm writing to you about the proposed financial bail-out that President Bush spoke about last night. As your constituent, I urge you to vote NO on this piece of legislation in any form. It seems ridiculous to me that the government would want to buy securities that the investment banks can't sell. I'm not convinced that these will ever be of significant value and the tax payers will be left with the tab.

Also, this problem was created by bad decisions by borrowers, banks and investment houses. It's appalling to me that we would want to prop up these institutions. The market is making the necessary corrections and we should allow this to run its course.

Finally, I am unconvinced that the price-tag will be "only" $700 billion. Is that in addition to the guarantees the government has made to those who bought Bear Stearns and the Fannie/Freddie bailouts? It is way too much money to take from people who have acted responsibly in their borrowing and spending habits and give it to those who have created this mess.

Sincerely,

Chat Wrecker

Regardless of how you feel about the bail-out, I strongly suggest that you write your member of Congress. This legislation will affect our economic system and our country's balance sheet for generations to come.