🚀 go-pugleaf

On Wed, 1 Oct 2008 05:44:09 -0700 (PDT), "R.S." <rand@hickorytech.net>
wrote:

>http://www.ajc.com/opinion/content/opinion/bookman/stories/2008/09/25/pageed_0925.html
>
>Click-2-Listen -
>
>http://c2l.newsworthyaudio.com/Partners/COXNewspapers/C2lPlayer.aspx?PartnerKey=COXNewspapers&SiteKey=ajc&ArticleGUID=ajc_opinion_bookman_stories_2008_09_25_pageed_0925&ArticleURL=http://alt.coxnewsweb.com/cnishared/newsworthy/ajc//opinion/bookman/stories/2008/09/25//ajc_opinion_bookman_stories_2008_09_25_pageed_0925.mp3&PartnerSpecificParam=AdUrl=http://ad.doubleclick.net/adj/ajc.cni/$PAGE%23ap%40click2listen%23pg%40$PAGE%23sub%40$SUB%23fromsite%40ajc%23
>
>By J. BOYD PAGE
>
>Thursday, September 25, 2008
>
>Reason No. 1: The $700 billion Wall Street bailout is merely a �drop
>in the bucket.� It will not correct Wall Street�s problems. The
>government�s suggestion that a $700 billion bailout of Wall Street and
>its bad investments will somehow solidify the markets is simply
>unfounded. The true facts show that there are more than $12 trillion
>worth of mortgages outstanding in the U.S. alone.
>
>Reason No. 2: The bailout plan smacks of cronyism. Treasury Secretary
>Henry Paulson and many of his chief advisors are Wall Street alumni.
>Paulson�s close relationship with the Wall Street community strongly
>suggests ulterior motives may impact his recommendations.
>
>Reason No. 3: Paulson and Federal Reserve Chairman Ben Bernanke do not
>understand the problems confronting the American economy and are not
>qualified �to be king.� Dean Baker, co-director of the Center for
>Economic and Policy Research in Washington, stated: �This
>administration is asking for a $700 billion blank check to be put in
>the hands of Henry Paulson, a guy who totally missed this, and has
>been wrong about almost everything.�
>
>Reason No. 4: The bailout plan proposes to give Paulson unfettered
>discretion to do as he sees fit with no accountability to anyone and
>no review of his actions by either courts or administrative agencies.
>To create a �get out of jail free� card for anyone associated with the
>proposed bailout offers unlimited possibilities of abuse.
>
>Reason No. 5: The Wall Street bailout plan is a �knee-jerk reaction�
>and there may well be better alternatives for spending $700 billion of
>taxpayer money. The $700 billion plan is aimed at a very small segment
>of American employees � generally the group of people who have earned
>excessive income over many years and who live in �ivory towers.� Alan
>Meltzer, a economic advisor to President Ronald Reagan, summarized the
>situation saying, �This is scare tactics to try to do something that
>is in the private but not the public interest.�
>
>Reason No. 6: President Bush and Paulson have proposed a bailout plan
>even though they have no idea of what to do. Prior to committing $700
>billion of taxpayer funds, our government should at least have a plan
>on what is going to be done with the money.
>
>Reason No. 7: The bailout plan will undoubtedly result in a weaker
>dollar with many adverse consequences for the American economy. David
>Woo, the Global Head of Foreign Exchange at Barclay�s in London,
>stated that �the downdraft on the dollar from the hit to the balance
>sheet of the U.S. government will dwarf the short-term gains from
>solving the banking crisis.�
>
>Reason No. 8: The bailout plan is unlikely to avoid a recession. Even
>experts who suggest there are long-term benefits to a bailout plan
>note that it could take the better part of a decade before beginning
>to show any impact on the U.S. economy.
>
>Reason No. 9: There is no transparency to the bailout plan. Lack of
>transparency is one reason our economy is in the position it finds
>itself today.
>
>Reason No. 10: Under the bailout plan Paulson and Bernanke intend for
>the U.S. to pay above- market prices for the assets that the country
>buys. Bernanke is urging that any bailout plan buy illiquid assets at
>values above those for which they could be sold on the open market. In
>other words, Bernanke wants the American people to overpay for Wall
>Street�s illiquid assets.
>
>Sound like a good idea to you? It doesn�t to me.
>
>Boyd Page, an Atlanta attorney, specializes in investment and
>securities litigation.
>
>
>Other Bailout Resources you should review before you surrender to Wall
>Street or Contact your Senators and Congressman
>
>The Wall Street Meltdown and Inequality
> http://extremeinequality.org/?p=82
>
>10 Ways to Bail Out Wall Street (and Main Street) Without Soaking
>Taxpayers in Debt
>http://www.alternet.org/workplace/100223
>
>Dean Baker: The Bailout Round II: Adult Version?
>http://www.huffingtonpost.com/dean-baker/the-bailout-round-ii-adul_b_130418.html
>
>This is an Emergency, if ever there was one!
>
>
>Please Immediately Call and Email all your U.S. Senators and U.S.
>House Representative Today at every office.
>
>
>CONTACT INFORMATION for U.S. SENATE & HOUSE
>
>
>Senators
>
>
>http://www.senate.gov/general/contact_information/senators_cfm.cfm?OrderBy=state&Sort=ASC
>
>
>House of Representatives
>
>
>http://www.house.gov/house/MemberWWW_by_State.shtml#mn
>
>
>if above doesn't work for you use link below
>
>
>http://www.alipac.us/ftopic-63874-0-days0-orderasc-.html
>
>
>Citizens you are making me PROUD to be a U.S. Citizen!  No Wall Sereet
>Bailout!
>
>Keep the Heat on Congress, Inform them about what you've just learned,
>Voice your opinion to them, and remind them who they represent and
>work for!!!

Stop this fraud against American taxpayers.

ted