9/28/08

By Ignacio D. Fresas

Nancy Pelosi, today the House Rejected the Bailout Package, 228-205 and you continue to give these speeches about bipartisanship that was never offered to the Democrats during all the years the Republican Party held power. I am so tired of hearing from you that this is off the table and that is off the table and bipartisan this and bipartisan that I could puke.

Why did it fail? It failed because you failed once again to bring real change to Congress. You failed to really protect the middle class and we know it, which is why we rang your phones off the hook, emailed every few hours and faxed until the machine ran out of paper.

Did you forget this is an election season? Do you really think that allowing 700 billion dollars to be thrown into a 1000 trillion dollar derivatives abyss will do anything to help the average middle class person or for that matter the market? A top down approach will not work; you must solidify the floor of our economy directly.

We know there is a better way; we know that you can put this on the sector that actually caused this mess. But in your infinite wisdom you again failed to realize that we are not as stupid as you think we are.

Had you as a party leader put everything or at least most of the real protections that does not put all the weight on our shoulder once again this bill would have passed as there would not have been the outrage all of you in Congress were hearing.

The American people are waiting on you to lead and not kowtow to the President and the tax breaks for the rich Republican Party once again.

You must open the process to others who were not involved in the crisis.

You have the power and backing of the American people if you remodel it to create a bill that will first have real oversight by utilizing your committees, by having the bill reviewed by the Committee on Ways & Means and then as Thom Hartmann said in his article "How Wall Street Can Bail Itself Out Without Destroying the Dollar"- "Create an agency to fund the bailout, loan that agency the money from the treasury, and then have that agency tax Wall Street to pay us (the treasury) back"-.

What is really sad is when this first came out in the media last week the Wall Street elite were like kids in a candy store and the market went up because they get to keep what they have and can continue with their derivatives bets. Today they are throwing a temper tantrum and plunged the market over 700 points.

I say good, like most Americans I am not invested at all in the stock market because I cannot afford gas let alone gambling in the market and maybe now they can have this helpless feeling for awhile.

For more than 5 years they have taken in all the money and I have not had a raise to my income in all that time and at the same time all my cost factors rise out of control.

We that are against this current H.R 3997 are not against doing something, we just don't like the something you are doing.

You know where you need to focus; we are the ones that need the help not the rich fat cats of Wall Street. Here is a little hint, start with the home owners.

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