If you are willing to spend some time reading these comments about the bailout plan and start to get mad....

Here is how to get them an email:

or congress go to:

https://forms.house.gov/wyr/welcome.shtml

pick your state, then type in your full 9 digit zip code (utility bills probably have that), you get a form that lets you email them a message. Tell them how you feel!

for senate go to:

http://www.senate.gov/general/contact_information/senators_cfm.cfm

After you choose a state, you get links to contact your 2 senators (at least I did for Colorado). Speak up!

You could copy and paste the message below that I sent to my reps into the form to send email to yours in about the same amount of time it takes to read one of the longer posts you might look at on this thread, so ....? Do you care enough about what your country's government does to do that?

**********************************************************

To the Honorable ***your reps name here***,

I recognize the need for decisive action to protect our financial system and demand that my interests as a citizen and taxpayer are fully represented.

Any legislation regarding the Treasury's proposed bailout of Wall Street financial firms MUST protect the interests of US taxpaying citizens, who are being ASKED to help out.

It MUST pursue accountability to punish any willful wrongdoing, and not allow undeserved financial gains to be kept by the people whose poor judgment caused this situation.

It MUST provide for appropriate regulations to prevent this kind of travesty from repeating itself in the future. It MUST allow for oversight and review to prevent abuse of the program.

Please do not allow yourself to be rushed to action. Ask for justification of the need of any and all stipulations contained within the proposed legislation on my behalf! I am counting on you to protect and represent my interests at this historic and critical time.

Sincerely,

***your name here***

If all of the mortgages that are in default were actually paid up, and nobody was late, would we still have a problem?

Another blog I read said YES! Because there are 2 problems:

• defaults on mortgages

• companies listing these highly leveraged credit swaps as assets

If both parties in these highly leveraged credit swaps/derivatives list the same transaction as an asset on their balance sheets, one of them is totally screwed when their bet turns out to be wrong. Right? Is that the real problem? Meaning that even if all of the mortgages were paid up, 50% of the assets that represent bets on whether the mortgage will or will not be paid are bad bets. AND leveraged ~30 to 1 or something like that, meaning the bet is NOT covered by cash on hand?

So are we being asked to bailout people who made bets against the economy?

I have posted it a in a couple of threads, but with the volume of comments it definitely gets buried quickly...

One last try...I really am asking, since I don't know the answer to this. Does one of the more economically savvy folks here know?

If all of the mortgages that are in default were actually paid up, and nobody was late, would we still have a problem?

Another blog I read said YES! Because there are 2 problems:

• defaults on mortgages
• companies listing these highly leveraged credit swaps as assets

If both parties in these highly leveraged credit swaps/derivatives list the same transaction as an asset on their balance sheets, one of them is totally screwed when their bet turns out to be wrong. Right? Is that the real problem? Meaning that even if all of the mortgages were paid up, 50% of the assets that represent bets on whether the mortgage will or will not be paid are bad bets. AND leveraged ~30 to 1 or something like that, meaning the bet is NOT covered by cash on hand?

This looks like part of a compromise for renewing tax credits on Renewable energy (paid by oil industry taxes apparently)...

The article "Senate approves bill with energy trade-offs" is linked to on my signature. It says the bill goes to the House now.

The only reason we are doing that is because the problem tackled us. Where the f*ck were you guys as this problem was building?!?

The guys in the treasury and Fed and SEC have business degrees and read industry news. HOW can this be an f*cking surprise?

I say do just enough to keep money flowing to the businesses that are still DOING something, let the financial services sector undergo a much needed contraction. And let them feel the pain of losing some money. They'll live.

that I just emailed my Congressmen and both Senators the following:

Regarding the pending legislation for the bailout of the financial services companies I want to see just enough done to keep money flowing to the businesses that are still DOING something. Let the financial services sector undergo a much needed contraction, and let them feel the pain of losing some money based on poor judgement. They'll live.

I do NOT want to sacrifice one penny that should be spent on meeting other very pressing needs in our nation to protect the foolish investments of Wall Street.

The more I read and hear, the less I want to do anything to help Wall Street.