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Dear Friend,
The New York Stock Exchange's opening bell sends shivers down
the spines of all Americans as we consider the fate of the
nation's largest banks and brokerages. Years of easy credit,
sub-prime lending, and market deregulation have led us to what
may be the worst financial crisis since the Great Depression.
What is Congress doing? Debating a taxpayer-financed bailout for
the people who got us into this mess. You can be sure that they
are remembering the well over $5 billion the finance,
insurance, and real estate firms have poured into campaign
contributions and lobbying since 1990. What can we do?
Tell Congress in no uncertain terms: no blank checks for Wall
Street donors. The American people can't afford a special
interest bailout. http://ga3.org/ct/ypXAKwS1xEjP/
Where's the bailout for people who were taken advantage of by
predatory lenders and have now lost their homes? How about a law
that caps the sky-high interest rates banks can charge on your
credit card? Can we limit the "golden parachute" for the execs
who walk away from the bankrupt bank? Sorry, no. The average
American failed to write big checks to candidates for office, or
attend those lavish fundraisers to bump elbows with members of
Congress.
Congress is bailing out their friends on Wall Street and
sticking us with the bill. Tell them enough is enough: no blank
check bailout for their biggest donors
http://ga3.org/ct/ypXAKwS1xEjP/.
If a bailout needs to happen, then make it come with strict
provisions for regulation and oversight, and consequences for
those executives and investors who fiddled while our financial
security burned. Most importantly, include benefits for ordinary
taxpayers in the bargain -- like full public financing of
elections.
It's almost sickening that Congress has accepted $2 billion
from Wall Street bigwigs and other wealthy special interests to
finance their campaigns. Let's give our elected officials a
choice: they can either continue to accept big money from Wall
Street bigwigs and big money special interests or qualify for a
grant by showing broad based community support. We can do this
by passing the Fair Elections Now Act that is modeled on the
Clean Elections programs working in seven states and two cities.
Clean Elections gets candidates off the fundraising treadmill
and makes them accountable to one interest and one interest
only: the voters.
Thank you,
David Donnelly
P.S. Each day makes it more clear how desperately we need to
pass Clean Elections laws in Congress. Help us keep up our fight
with a donation today http://ga3.org/ct/h1XAKwS1xEjQ/.
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