Of course President Obama disagrees saying "Every day we don't act, the same system that led to bailouts remains in place. Opposing reform will leave taxpayers on the hook if a crisis like this ever happens again."

Even though I don't pretend to know everything about this financial overhaul, I've seen enough of Obama to know that when he says, "Every day we don't act." I reflexively reach for my wallet.

In today's Wall Street Journal, their story "The New Master of Wall Street" breaks the finance reform bill down for all to easily understand.

"This is the most important fact to understand about thecurrent financial reform debate. While the details matter a great deal, the essence of the exercise is to transfer more control over credit allocation and the financial industry to the federal government. The industry was heavily regulated before -- not that it stopped the mania and panic -- but if anything close to the current bills pass, the biggest banks will become the equivalent of utilities."

There you have it, Patrick. This latest Obama push has little to do with "true reform" and much more to do with transferring control to the federal government!

At best it is another Obama power grab - at worst, it will be a private bailout slush fund that you and I will be ultimately in charge of funding.

Adding to the growing angst, the Journal continued saying, "The irony is that this may, or may not, reduce the risk of future financial meltdowns and taxpayer bailouts."

Why should American taxpayers have to do anything?

Why can't we allow failing banks, car companies and businesses to fail? Why should we be required to bail them out?

That's precisely why I'm calling my Senators and urging them to stand against this latest Obama scheme to seize control of our financial institutions, and I'm urging you to do the same as soon as you receive this message.

If your Senators are Republicans, urge them to stand strong against the intimidation tactics of the Obama Administration. Encourage them to champion the free- market principles that have made our nation great, and to refrain from supporting yet another socialist takeover.

When calling Democrats, let them know where you standon this bill, urging them to oppose the financial reform plan, and Obama's socialist policies. Put them on notice for their actions, and let them know that you will be heard during the November elections!

Finally, alert your friends and family. Many of them may not understand the depth and scope of Obama's finance reform plan. Urge them to take immediate action with you by contacting their Senators as well.

If they don't have the contact information handy, have them call the Capitol Switchboard at 202/224-3121 to be quickly connected.

I appreciate you taking fast action with me. As I said earlier, this bill is expected to be voted on this coming Monday, so I would like to see Grassfire Nation rally

with tens of thousands of calls with the time that remains!

Thanks for taking a stand with Grassfire Nation.

Steve

P.S. If you haven't yet signed our petition opposing Obama's Cap and Tax scheme, you can still be part of our upcoming petition delivery to Capitol Hill this Monday by clicking here now:

http://www.grassfire.net/r.asp?u=27363&PID=16342674

When you sign, your petition will be hand-delivered to your two Senator's office! Deadline for this delivery is Monday morning at 9 a.m. ET, so take action now.

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Grassfire Nation, a division of Grassroots Action, Inc., is a million-strong network of grassroots conservatives that is dedicated to equipping you with the tools that give you a real impact on the key issues of our day.Copyright 2009 Grassroots Action, Inc.

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