Dear Senator xxxx,

The provisions of the draft legislation, U.S. Treasury Proposal to Buy Mortgage-Related Assets (“Proposal”), have changed since I last wrote to you. Originally, the Proposal sought to grant the US Treasury the authority to buy mortgage-related assets from financial institutions whose headquarters are located in the United States. The Proposal has changed rapidly over the last 48 hours and is now much worse. According to press reports, the Proposal has been modified to include the purchase of additional types of distressed debt such as credit card debt and auto loan debt. Also, the Treasury Secretary now wants to buy distressed assets from financial institutions outside of the United States. Finally, the press is reporting that the US government will be taking equity shares in banks.

I am against this legislation. Two days ago when I wrote to you I was alarmed and concerned. I am now disgusted.

Thank you for allowing me the opportunity to comment.

Sincerely,

Gary xxxx