After hearing the news that U.S. Congress has reached a tentative agreement on a $700 billion bailout of the subprime industry and they will probably vote on it Monday morning, I felt compelled to send this email to Representative Keith Ellison (D-MNCD5), Senator Amy Klobuchar (D-MN) and (in futility since he always votes with his party’s president and will probably lose in November because of it) Senator Norm Coleman (R-MN). Feel free to use this text as a starting point to express your concerns about the U.S. spending $700 billion it doesn’t have to bailout corporate “greed heads:”
Please vote no on the $700 Billion bailout plan to buy mortgage securities from private companies. This is not an appropriate way to utilize public dollars for the public good as the money will primarily benefit the wealthy CEOs and middle managers who caused this financial crisis in the first place.
All of the Twin Cities residents I’ve heard talking about the “bail out” plan have had nothing good to say about it — and many, like my self, suspect it is being orchestrated by the subprime securities industry to prevent them from experiencing the downside of the foolish risks they’ve taken.
Vote no on the bail out and tell Corporate America that it needs to face the consequences of its actions.
I’ll be posting Amy, Keith and Norm’s responses as they come in.