---- Original Message -----
From: Flo Hoffman
To: Undisclosed-Recipient:;
Sent: Monday, September 22, 2008 7:24 AM
Subject: Fw: [American-Citizens-for-Truth] URGENT CALL TO FILIBUSTER THE BANK
BAILOUT BILL
----- Original Message -----
From: Bruce Majors
To: [EMAIL PROTECTED] ; American Citizens Truth New
Cc: [EMAIL PROTECTED] ; [EMAIL PROTECTED]
Sent: Monday, September 22, 2008 6:56 AM
Subject: [American-Citizens-for-Truth] URGENT CALL TO FILIBUSTER THE BANK
BAILOUT BILL
URGENT CALL TO FILIBUSTER THE BANK BAILOUT BILL
http://www.mcclatchydc.com/244/story/52804.html
This is an urgent action item. The massive bank bailout bill can
be stopped by these two Senators, Jim Bunning and Jim DeMint. Please call each
of them and state you are for a filubuster of the proposed bank bailout bill.
Then make a call to your own Senators and Congressman We the people are
against destroying our dollar to save the banks and foreign governments that
own the bad debts. Act now to save our country from becoming another Argentina
which prior to their depression, had living standards a approaching the USA.
Now, they have a whole class of people who survive by picking usable items out
of garbage dumps. Don't forget to forward to all your friends and lists as
well. We only have a few days to block it, don't delay, this bill is the last
straw, stop it now.. Let Jim Bunning know we will fully support his filibuster.
DC Address: The Honorable Jim Bunning
United States Senate
316 Hart Senate Office Building
Washington, D.C. 20510-1703
DC Phone: 202-224-4343
DC Fax: 202-228-1373
Electronic Correspondence: http://bunning.senate.gov/public/
index.cfm?
FuseAction=Contact.ContactForm
WWW Homepage:
http://bunning.senate.gov/public/index.cfm?FuseAction=Home.Home
Senator Jim DeMint
340 Russell
United States Senate
Washington, DC 20510
Phone: 202-224-6121
Fax: 202-228-5143
Office Hours:
9am - 6pm (M-F)
As Congress rushes to back bailouts, a senator cries foul
Courtesy U.S. Senate/MCT
Senator Jim Bunning of Kentucky. | View larger image
By Halimah Abdullah | Washington Correspondent
WASHINGTON - Depending on who you ask, Sen. Jim Bunning was
either preternaturally prescient in his predictions of financial turmoil if
government agencies kept bailing out privately owned businesses, or he's a
prophet of fiscal doom who's slightly off the mark.
"Senator Bunning has been critical of the Federal Reserve system
since God was a little boy. If he says it often enough ... eventually he'll
look as if he's right," said Kenneth Troske, an economics professor at the
University of Kentucky. "Having said that, his concerns currently about the
actions that have been taken by the Fed and the administration are legitimate."
On Friday, the Bush administration and members of Congress vowed
to work together to craft a historic bailout that lawmakers, along with
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke,
said could total as much as $1 trillion. The Fed and the Treasury outlined
proposals designed to shore up the economy by relieving lenders of bad
mortgages, temporarily insuring money market funds and increasing cash flow to
banks.
Bunning sees the actions as a move toward socialism.
"Instead of celebrating the Fourth of July next year, Americans
will be celebrating Bastille Day," Bunning said. "The free market for all
intents and purposes is dead in America.
"The action proposed today by the Treasury Department will take
away the free market and institute socialism in America," Bunning said. "The
American taxpayer has been misled throughout this economic crisis. The
government on all fronts has failed the American people miserably."
It was the second time in less than a week that the junior
senator from Kentucky blasted Federal Reserve and Treasury Department
leadership. On Wednesday, Bunning criticized the Fed for an $85 billion bailout
of insurance and finance giant American International Group; he introduced
legislation that would strip the agency of its power to use taxpayer money in
future bailouts.
"I have said on more than one occasion that I don't think the
Federal Reserve can handle the powers they have, and this irresponsible bailout
just proves my point," Bunning said earlier this week. "The only difference
between what the Fed did and what Hugo Chavez is doing in Venezuela is Chavez
doesn't put taxpayer dollars at risk when he takes over companies -- he just
takes them."
Whether by luck or by design, Bunning's timing in forecasting the
nation's economic downturn is uncanny. As Wall Street struggled to recover from
an economic meltdown, cable network news stations such as Fox and CNBC and
media outlets like the Wall Street Journal asked Bunning to opine on where
things went so wrong.
He was happy to oblige.
Bunning, who sits on the Senate Finance Committee, has fumed over
the past year at the nation's mortgage implosion and ensuing financial crisis,
the rescue of Bear Stearns by the Federal Reserve and the government seizure of
Fannie Mae and Freddie Mac. Bunning strongly prefers a free market approach and
is adamantly opposed to what he sees as a trend toward federal handouts for big
businesses.
A constant critic of Federal Reserve and Treasury leadership,
Bunning raised the red flag on former Fed chairman Alan Greenspan's handling of
the 1990s recession and felt the agency was slow to adjust to rate increases.
Bernanke and Paulson's management of the current crisis is a frequent topic
during Bunning's weekly telephone press conferences with reporters.
This time, however, Bunning is by no means alone in his criticism
of the agencies.
In recent weeks, many lawmakers have begun to echo a question
Bunning has often raised: Does the Federal Reserve have too much power?
"The actions of the administration have represented a fundamental
change in the role the government is playing in the economy, and that change
has occurred in a rather arbitrary fashion in order to find some way to stop
the fall of the stock market and by scrambling to do something to prop up the
country's financial security," Troske said.
"We've seen the largest nationalization of companies in the
history of this country. ... If I were a member of Congress I would be upset,
too," Troske said. "They are changing the role with very little discussion with
other members of government."
Senate Minority Leader Mitch McConnell disagrees.
"A bailout is a pejorative term," he said. "A better way of
looking at the actions that have been taken is that they are to protect the
financial systems of the United States of America and all of the people who
have 401ks and mutual funds.
"This is about the country's financial system as well as overseas
because so much is interlocked now," he said. "And people can feel comfortable
that we're going to act on a bipartisan basis and fix the problem."
For his part, Bunning says he's committed to holding the Fed and
Treasury accountable - even if those efforts earn him the title of malcontent.
"My great-grandchildren will be saddled with the estimated $1
trillion debt left in the wake of this proposal," Bunning said. "We have gotten
to this point because nobody has been minding the store.. Both Secretary
Paulson and Chairman Bernanke should be held accountable for their inaction.
And now because of that inaction, the American taxpayer is left with the bill."
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