700 Billion Dollars. That's $2300 for every man, woman, and child in the United States. 700 Billion is what the mortgage bailout that certain government officials are planning.
The current plan as it's stands is very scary. It gives a lot of power over the financial markets to just a couple people, it lets banks and others that caused the problems off the hook with no penalties. It also doesn't have any protection or cures for those that are troubled with mortgages they cannot pay.
Congress is not happy, in fact, both sides of the aisle have serious concerns with this bailout. We need to take this opportunity and support our congressmen as they bailout is shaped and eventually passed. Email your congressmen and ask for the following be included in the bailout:
- Equity stakes in banks that are are bailed out. If we buy the bad mortgages, we should take an equity stake in those banks. This ensures the country gets paid back for the bailout and punishes the players for the mess in our financial markets. This happened in Sweden, they were out of it and paid back in less than five years.
- Over-site. Lots of oversight. This bailout should not be overseen by one person. there should be over-site every step of the way. Good reporting, clear guidelines, and over-site from people not tied to the mess.
- Relief for individuals who own mortgages. If we are going to help wall-street, we need to help main-street. We should bailout the situation from top to bottom.
- ???? Anything that you believe strongly in.
I urge you to use the link below and write a quick email to your congressmen now. If we act now, we may be able to stand with congress and make the right choices for are country at this critical juncture.
This link will take you to a list of of congressmen for all fifty states. http://www.conservativeusa.org/mega-cong.htm
Pass this email and suggestion on to other people you know. Remember, This is our chance to make a change.
Thanks for listening
Greg Marshall
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