Dear Senator...,Blog on friends, blog on all.
It occurs to me that if Warren Buffet can invest in seriously discounted firms with the opportunity to earn a triple or more ROI, that we should require the same for any investments made on behalf of the American People. Bailing out Wall Street without getting an equity stake and placing some thorns in the legislation that allows us to extract blood from those who caused this mess is pointless.
Truly, can any one really define the problem definitively that the 700 billion dollars is to solve? If we toss 700 billion dollars onto George Bush's house of cards, it will fold because the house is built on wormwood and no oversight or regulation. What's plan B if the 700 dollars doesn't fix the problems but causes more?
Is this bill a lifesaver for the corporate fat cats or the American People? Fear of fiscal catastrophe is not a reason to vote for a bad solution. My hope is that you and your colleagues are able to find a solution that works for America, not Wall Street.
And finally, we should ensure that those who have made enormous sums of money working for these firms make the sacrifices that reflect their involvement in creating the problem. In other words, if you are the CEO of one of these failed firms and you made over 10 million dollars, you could stand to toss in 8 or so of those millions to rectify the problem no? Sure it's a lot of money, but they made the bad bets. Let's hold them accountable.
Monday, September 29, 2008
My Note to My Reps
Here's what I just sent to my congressional reps. Feel free to plagiarize and send to yours.