Tuesday, September 30, 2008

The Wall Street Bailout (Otherwise known as: The Economic Stabilization Bill)

An open letter to our elected officals:

Reference: The Wall Street Bailout (Otherwise known as: The Economic Stabilization Bill)

I strongly urge you to vote AGAINST any additional measures to bail-out Wall Street, financial and mortgage firms.

As a citizen who pays a lot of attention to politics and votes every time an opportunity presents itself, I also spend a lot of time talking with friends, associates, clients, and anyone who is willing to listen, and I espouse a strong conservative and libertarian point of view. I will make a very determined and pointed effort to share my perspective with anyone that is willing to listen. I will also identify those politicians who exercised good judgment and voted AGAINST any and all measures designed to bailout these firms. I will make a very determined effort to expose those who vote FOR such bailouts.

I am a well educated professional with an MBA in Corporate Finance and Investments, and am also someone who spent many years in the corporate world and am now a small business owner as well as home-owner; I am a strong supporter of the free market system.

I know that my success as a business owner is completely dependent on my ability to keep my business solvent and to generate sales and manage my business in a competent fashion.

I also know that I cannot depend on a government bailout, I cannot pay lobbyists and that I cannot make large campaign contributions in an effort to sway my politicians points-of-view.

Any business that makes poor business decisions MUST be accountable to the free market system. Therefore if liabilities exceed assets, these firms MUST be dissolved, forced into bankruptcy or otherwise shuttered. There cannot be any other response.

The strong will survive and the weak will succumb. This is what our free market system should be all about. These are the options that I face every day.

I am appalled at the thought of government further entwining itself within the free market system. The democrats, as well as many republicans, set the stage for this financial debacle. Everyone who helped Fannie May and Freddie Mac should be held FULLY accountable. What happened to Sarbanes-Oxley? What happened to regulatory checks and balances?

Where are the investigations and hearings into these individuals and issues? Why are Barney Frank, Maxine Waters, Charles Rangel, Chuck Schumer, Franklin Raines, Chris Dodd, Bill Clinton, Nancy Pelosi, Harry Reid and other GUILTY individuals not being put on trial for their criminal actions?

If you have voted AGAINST these bailout measures, I applaud you and further encourage you to stand strong and resist the pressure to succumb to the pressures that will ultimately lead to the elimination of the free market system as we know it.

If you have voted FOR or are considering voting for these measures, I will tell you that the average American citizen is not stupid and naïve as many of you would like to believe, and you will be held fully accountable for your ignorant and dangerous pandering to the lobbyists and financial firms.

We are actively participating in this process; we are closely watching your actions. We will reward those who act with prudence and good judgment. Come election time, we will punish harshly those who exercise bad judgment.

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