I frequently. disagree with the folks at TrueMajority – anybody who knows me had probably heard my grumbling about the fact that ever since Ben and Jerry’s got more heavily involved, unless you’re a liberal’s liberal you don’t often have much to gain from being a member, except ulcers.
But, once in a while, they improve on that. Which is probably why I’m still a member.
That link goes to a chance to send out messages to folks in the government, as well as in charge of US Bank, telling them to get off their duffs and free up the credit markets. I’ve got a slightly more productive (I think) message on the subject, so feel free to copy/paste this in in place of what they supply you with.
Hundreds of laid-off workers at Republic Windows and Doors in Chicago have occupied their factory and are refusing to leave without receiving the benefits they rightly deserve — they’re staying in the office day and night in their quest for justice.
Secretary Paulson was given the funds for the bailout for the purposes of purchasing distressed securities. This would free up cash assets to extend lines of credit to companies so that people could keep their jobs. Instead, he has decided to spend the money on bank stock, which may shore up the market (though it doesn’t seem to), but doesn’t free up actual cash to provide lines of credit. The end result is a gradual nationalization of the banking industry, as the government becomes a larger and larger stockholder, and no benefits to the credit market.
Make sure that the bailout is used for the purposes it was meant for – freeing up credit markets and enabling business and people to pay their bills, not making the Secretary of the Treasury the largest bank owner in the nation. Hold Secretary Paulson accountable for his bait-and-switch tactics, and use the funds for something that benefits the taxpaying public.