9-25-2008

Dear {Goldbrick}:

Thank you for contacting me to express your concerns regarding government assistance to distressed financial institutions. I share your concerns, and I am outraged that American taxpayers are being asked to bail out those whose avarice created the crisis that we now face.

In 1991, Representative John Dingell stated that repealing the Glass-Steagall Act regulations would usher in a "golden age of thievery." Mr. Dingell has been proven correct.

In response to the growing number of firms experiencing loss because of a lack of regulation, a lack of oversight, the greed of financial executives who often make sums in excess of 250 times the income of the average American worker, and bad judgment, President Bush is asking Congress to consider a hastily crafted $700 billion legislative package that would establish a system to bail out certain financial institutions using taxpayer money.

This Administration, which will soon leave office and never have to deal with the catastrophic financial dislocation they have caused and the long-term consequences of its request, is asking Congress to make a decision within seven days on whether to levy a $700 billion liability on you and every other taxpayer for at least a generation. I have the gravest reservations over the President's bail out proposal and the arrogance of his suggesting that Congress act within a week to undo a disaster that has crescendoed over the last decade and enriched countless Wall Street executives and speculators while impoverishing multitudes.

The problems in our current financial system are not temporary aberrations in an otherwise healthy system, and may not be so easily addressed. Given the gravity and systematic nature of these problems, I believe that Congress should be deliberate and conduct a comprehensive examination of alternative solutions.

Be assured that I will consider any proposal with the greatest of caution, and I will assess its impact on you and every citizen that I represent.

Thank you again for contacting me.

Sincerely,

Peter J. Visclosky
Member of Congress

Awesome. That's gotta be satisfying! I have yet to receive a response from MY congresscriters, damn them to heck.