No Bailout for Banks!
- por: Bretigne
- destinatário: The US Senate
Are you outraged to hear that yesterday Congress voted to approve a billion-dollar bailout of the banks and financial institutions that engaged in reckless lending practices and helped create the housing market crisis?
Are you doubly outraged to learn that the $41.7 price tag quoted by the Congressional Budget Office is more likely to be around $400 billion, and could reach as much as $1.4 trillion, according to Standard and Poor's?
This is $1.4 trillion that will be paid by you and me and our children. Why? Because our representatives in Washington have decided that the taxpayers should pay for the mistakes of those who bought into the housing bubble, and the financial institutions that enabled their frenzy.
This bailout will only encourage more of the same. When people -- and in this case, massive financial institutions -- know that they will be rescued from their bad financial decisions, what incentive do they have to make good ones?
TOMORROW -- yes, that's tomorrow, Saturday July 26th -- the US Senate will be voting to approve (or not!) this outrage. Let's send them an unequivocal message that this bailout is unacceptable! There are three things you can do right now:
1. Call your senator TODAY, and let him or her know that they will not be getting your vote in the next election if they support this bill. Remember, the vote is tomorrow!
2. Sign the petition
3. Forward this message to everyone you know who is as outraged as you are.
We the undersigned are outraged that Congress has voted to approve a billion-dollar bailout of the banks and financial institutions that engaged in reckless lending practices and helped create the current housing market crisis.
We are doubly outraged to learn that the $41.7 price tag quoted by the Congressional Budget Office is more likely to be around $400 billion, and could reach as much as $1.4 trillion, according to Standard and Poor's. This is $1.4 trillion that will be paid by taxpayers and by our children. Why? Because our representatives in Washington have decided that we should pay for the mistakes of those who bought into the housing bubble, and the financial institutions that enabled their frenzy.
This bailout will only encourage more of the same. When people and institutions know that they will be rescued from their bad financial decisions, what incentive do they have to make good ones?
We urge you to do the right thing. We urge you not to reward reckless behavior. We urge you not to punish those of us who behaved responsibly and did not participate in the housing market frenzy. And most of all, we urge you not to vote to give billions more to the very institutions that contributed to this mess. We urge you to vote NO on the housing bailout bill.
Sincerely,
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