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From: Andrew Pernicano
Sent: Wednesday, October 01, 2008 12:15 AM
To: bob@...
Subject: Fw: A 30 yr banker wants carte blanche with your money
I myself am not in favor of this bailout as it presently stands. I think they need to slow it down and take measured steps. It's all too rushed and a load of fear mongering. Something doesn't smell right.
I'll be contacting my representative in the 22nd district today.
Andrew
From: hank paulson
Sent: Tuesday, September 30, 2008 11:46 PM
To: sunsurfh2o@...
Subject: A 30 yr banker wants carte blanche with your money
A 30 yr banker wants 700 billion no questions, no oversight, to do with as he sees fit, and we're just going to give it to him? Only two years ago Hank Paulson was running Goldman Sachs. He's still part of the fraternity and he wants your tax dollars to bail out his buddies after their unscrupulous activity has all but bankrupted their companies. Let them fail, they've made their bed. What about all the lost jobs? At Goldman Sachs, for instance, employee's average salaries are $600,000--that figure includes secretaries! I'm sure they'll be alright between now and their next job. Reckless behavior has it's consequences, why give them a get out of jail free card? We're sending them a message that it is OK to play their high stakes wagers, over and over again because we are willing to subsidize their losses.
I would love to be able to find a buyer willing to pay 2006 prices for my home! Heck, I'd be happy if I could sell my house even at today's prices but no ones seems to be knocking on my door with an offer. If I could be so lucky! Why should banks receive a dollar more than the fair market value of their so-called assets? They should just be glad they found a buyer willing to buy at a time when prices are still falling through the floor! Defaults and foreclosures are flooding in at record levels, and that record will continue to climb. This proposed bailout does nothing to stem the losses that depress the market further and further every day.
Give us a real solution. Something we can get behind and see the positives for us, the investor.
Contrary to what the Bush administration would have you believe, we are not on the verge of Armageddon. Bush was quick to draw attention to the historic one-day drop in the stock market on Monday, and suggest the 700 billion that he was asking for a bailout was therefore a far better deal. I don't recall him saying anything about the near equally historic one-day gain (best in 6 years) the market saw Tuesday. The money doesn't just evaporate. Investors may pull their money back out and stick it in CDs for a while but they'll eventually want back in for larger gains.
It will be a protracted recession. Let the market take care of itself and we might get through it faster. Or at the very least, take the time to craft a credible bill that comes with more restrictions, oversight, and better game plan.
Pressure your congressman to vote NO on the current plan! Many of them are on the ballots for re-election in a little over a month and fear the repercussions of voting for a bailout that is widely unpopular with their constituents. Take a moment to write your congressman and let them know you want a better plan. Use the link below:
To look up your district and write your representative directly, go here: https://forms.house.gov/wyr/welcome.shtml
Sign a petition: petitions against a bailout
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