Possible Vote Today on the Big Bailout
Perry Willis
"These two entities -- Fannie Mae and Freddie Mac -- are not facing
any kind of financial crisis. The more people exaggerate these
problems, the more pressure there is on these companies, the less we
will see in terms of affordable housing.''
-- Representative Barney Frank, 2003
HT: Radley Balko at Reason
<http://www.reason.com/blog/show/129096.html>
Subject: Possible vote today on the Big Bailout
A deal has been struck. Whether House Republicans will vote for this
latest (final?) version of the Big Bailout remains in doubt, but
chances are that they will. Nevertheless, it's up to us to fight to
the end, and to give our elected representatives cause for doubt,
nervousness, and perhaps fear.
Congress rushed to strike this deal, setting this morning's opening
of the markets as their artificial deadline. It doesn't seem to have
done much good. As of this writing the markets are down. Why aren't
the market's happy? Aren't the politicians giving investors what they
wanted? Apparently not.
Most importantly, the credit markets are getting worse this morning,
in spite of the announcement of a plan to "rescue" them.
This entire thing smells fishy.
We suggest that you send another message this morning using our "cut
spending" campaign. Use your personal comments to once again oppose
the Big Bailout, and ask your representatives why, if their plan is
really so good and so necessary, credit markets are getting worse
this morning? You can send your message here.
<http://www.downsizedc.org/etp/campaigns/104>
Thank you for being a part of the growing Downsize DC army.
Perry Willis
Communications Director
DownsizeDC.org, Inc.