Post your congressmen/senator's replies here (on bailout)

[devil21]

Thank you for contacting me regarding the proposed financial rescue package. Your views are important, and I appreciate you taking the time to share them with me.


As you know, Secretary of the Treasury Henry Paulson, with the support of President Bush, has recently proposed a $700 Billion dollar financial market intervention in order to stabilize the economy and prevent a recession. I have significant concerns with this proposal and the way it has been introduced. A bill of this size and scope should be deliberated in the open so that everyone involved and the public can know what is at stake. That is why on Tuesday, September 23rd I sent the following letter to both the Majority and the Minority party leadership in both chambers of Congress.


President George W. Bush’s recent request of Congress to expedite passage of sweeping legislation intended to provide stability in the financial markets is troubling to the American people. Particularly, our constituents are apprehensive about Congress considering such a massive measure without sufficient discourse. A number of my colleagues share their concerns.


Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have begun detailing the proposal and its importance during Congressional testimony. However, I am concerned that there has been no attempt by the President to explain to the American people what exactly this intervention would do and why it is vital to our country’s economic well-being.


I request that you extend a formal invitation to President Bush to deliver to Congress – and the American people – a nationally-televised address to explain the proposal, its risks, and why he and his economic advisors think it is necessary.

It’s only natural that the American people are suspect of this legislation when the Administration and elected officials are pushing it through Congress without transparency. They’re already disgusted by Wall Street’s backroom dealing. The last thing they want is for their government to do the same.

Please know that I am continuing to work through this proposal with focus on several issues: making sure Wall Street cronyism doesn’t create conflicts of interest in the program’s management; requiring up-front payments by firms to participate; ensuring corporate accountability among the participants, particularly for the executives who oversaw troubled institutions; and ensuring that repayment terms are addressed. I can assure you that I am trying to gather all the information available and I will certainly keep your comments in mind as we continue to deliberate this proposal.

Again, thank you for contacting me. Your views are always welcome and helpful. If you have not done so already, please visit my website - www.myrick.house.gov - to sign up for my eNewsletter. Thank you for the opportunity to serve you in Congress.

Sincerely,

Sue Myrick
Member of Congress

Neither NC senators have responded to their emails. I replied to Rep. Myrick telling her that her response doesn't appear to be whether she will or will not vote for the bailout, but just what the exact conditions of her YEA vote will be. The vast majority of Americans that are aware of the specifics are against the bailout and it's her job to represent the wishes of The People.

 

[Malakai]

Sent email to Rep Gus Bilirakis R-FL on friday. No response.

I have messaged Sen Martinez before, I got a condescending likely canned response and signed up to his annoying newsletter lol.

 

[rajibo]

Thank you for your email. Your message has been received by my office and will be carefully reviewed by a member of my staff.

Sincerely,
Senator Robert P. Casey, Jr

Pfft!

 

[werdd]

Randy as a citizen of the united states, and a hard working young american I sincerely urge you to vote against Mr. Paulson's the bailout bill. The federal reserve is robbing americans of their dreams, they are positioning theirselves as saviours in this crisis, when it is all their fault in the first place. A true conservative, in the reagan goldwater tradition, would never give this thought the time of day. I will not forget how you vote on this bill, and it is pivotol for me when it comes time to vote, as it is many others. There is a reason only 7% of the working class support's it, because it is robbery. Stand up and be a conservative, no more taxes, no more spending. Thank you

To mr randy naugebagher.

 

[tropicangela]

This just in:

Thank you for contacting me regarding the financial crisis facing our country. I appreciate you contacting me regarding this important issue.

I have heard from thousands of Floridians in recent days who are worried about this financial crisis and are concerned about the actions that Congress and the Administration may take in addressing it. I believe that our country is facing a very serious situation, and I share many Floridians’ concerns about the economic consequences to our country if we fail to act appropriately. We need to enact legislation that enables our economy to continue functioning while imposing new regulations and safeguards to ensure that this situation never occurs again.

The exact form that this legislation will take is not yet decided, but I assure you that I am working hard to ensure that your tax dollars will not be wasted on any plan that rewards irresponsible or illegal activities by investment bankers on Wall Street. There must be accountability in any plan approved, and those who have given rise to this crisis need to be investigated and prosecuted to the full extent of the law for any wrong-doing that occurred.

I am enclosing a copy of remarks I made on the floor of the Senate regarding the current crisis and its origins in the housing market. I believe that this problem is far too complex and serious to be handled in the same ultra-partisan fashion that has unfortunately characterized much of the 110th Congress. I assure you that I am committed to working with all of my colleagues to address this crisis and enact meaningful reforms to protect homeowners and ensure the long-term economic prosperity of our country.

Again, thank you for contacting me regarding this important issue. If I may be of assistance to you in the future, please do not hesitate to contact me.

Sincerely,

Mel Martinez
United States Senator




Financial Rescue Plan
Speech to the U.S. Senate
U.S. Senator Mel Martinez
Wednesday, September 24, 2008

This Congress is about to consider the most important legislation affecting our financial markets – certainly for a generation – possibly in our country’s history.

The American people must understand exactly what is at stake as we begin consideration.

What has happened is that the credit markets have quit functioning. Credit cards, car loans, home equity loans, home mortgages, business loans.

Business loans to keep large and small businesses operating have ceased to exist. The financial markets are not functioning putting in jeopardy our entire economy.

Without timely government intervention, the financial system as we know it will no longer exist.

This isn’t a Wall Street versus Main Street argument. This is about every American’s ability to pursue his or her American Dream. Without liquidity in the marketplace, financial transactions come to a halt – and that will create a complete collapse of the financial system.
So the need to act has become clear. Treasury Secretary Paulson has asked for the authority to purchase illiquid assets from financial institutions in an attempt to get the markets functioning again.

But with that authority, comes great responsibility and Congress has an obligation to the US taxpayer to ensure that any program is crafted and carried out with appropriate oversight.

Congress should consider limiting executive compensation in any package we discuss.

Congress will have to engage in active oversight of Treasury as they implement whatever plan we approve. So there should be no blank check. There will be no blank check.

Let me also mention I am pleased to learn of ongoing investigations into the activities of Fannie Mae, Freddie Mac, AIG, and Lehman Brothers. This is the worst financial crisis that our country has encountered in recent history and we owe it to taxpayers to get to the bottom of any wrong doing that occurred.

We need to prosecute any inappropriate behavior on the part of these companies to the fullest extent of the law. If we are going to have to fix this problem, those that created need to be held accountable.

After the dust clears, Congress cannot lose sight of one of the main reasons why we are so heavily encumbered by this crisis – why our financial system is so deeply troubled at this moment in time.

Fannie Mae and Freddie Mac were huge contributors to the problem because of their thin capitalization, ever-expanding portfolios and risky practices.

They fueled and funneled the risky securities that Wall Street bought and sold and made lots of money while ignoring the systemic risk their moves posed to the financial system.

In 2003, when I was HUD secretary, I came before this Congress with Treasury Secretary Snow and warned of the loose regulation of the GSEs and the risk posed by their undercapitalization.

We asked Congress to create a world class regulator to properly provide oversight to these financial entities that had become so large that they had an implied government guarantee and they were deemed too big to fail.

In 2005, Federal Reserve Chairman Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie, “…continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road.”

We are now at the end of that road.

As we go forward, not only will Congress have to determine the future role of these entities, we need to take a very close look at the practices that brought us to this place.

Throughout all of this work, we cannot lose sight of the root cause of this financial debacle – the housing crisis.

Floridians are among the hardest hit in the nation.

Housing prices continue to fall; inventories continue to rise; and a growing number of homeowners are facing their own personal foreclosure crisis.
To find the bottom of the housing crisis, to stabilize prices, we need to act. Congress can approve home buying incentives. Congress can approve a tax credit for down payments. That would at least encourage people to enter the marketplace, would reduce housing inventories, and get the money flowing back into the market.

As Congress debates this package, let’s remember who we work for – the American taxpayer. Our priority should be making decisions that serve their best interest. No blank check. Strict oversight. Accountability. Taxpayer recourse.

It is in every American’s best interest that we act. I look forward to creating the right legislation that averts a financial crisis that will affect every American – a financial crisis perhaps bigger than the Great Depression.

It is a time for responsible leadership. It is not a time for an easy out or a pulpit for populist rhetoric. We need to rise to this moment – for the good of our country.
-END-

 

[SnappleLlama]

Pfft!

Yeah, don't except a real reply from Bob Casey, Jr. in the future, either. In fact, try e-mailing Todd Platts. He never met a form letter he didn't like!

 

[Jeremy]

I have called today and sent 3 diffrent e-mails to my state and federal reps. You have to stay on their tails.

Why state reps?

 

[Matt Collins]

Dear Mr. Collins:

Thank you for contacting me with your concerns about Treasury
Secretary Henry Paulson's proposal to bring stability to our financial
system.

I have heard from hundreds of people just like you on this issue, and
I share your concerns. I hate the thought of paying ransom to Wall
Street, especially when Main Street is struggling. I am furious that
our financial situation has been allowed to get this point, and that
Treasury is considering bailing out the lenders who helped caused
this to occur.

We now face a situation where our economy is being held hostage.
Allowing the collapse of our banking system would cripple our
already weak economy. Credit card rates would skyrocket, new small
business loans and mortgages would be nearly impossible to obtain,
and jobs would be lost. We cannot let this happen. Simply put, we
must consider all potential solutions to the current crisis.

As you know, I have earned a reputation as a budget hawk, and have
dedicated my time in Congress to strengthening our nation's financial
future. I have authored, along with Republican Representative Frank
Wolf of Virginia, H.R. 3654, the SAFE Commission Act as an effort
to rein in our record-setting deficits. This week, Roll Call, the Capitol
Hill newspaper, published an editorial on this very piece of legislation
and its importance for our financial future - once we get past this
immediate crisis.

The article can be viewed by following this link:
http://www.rollcall.com/issues/54_38/editorial/28612-1.html.

In the coming days Congress will consider a series of revisions to
Treasury's proposal and I will keep in touch with you as this situation
unfolds. Thank you again for getting in touch with me to share your
concerns.
Sincerely,

Jim Cooper
Member of Congress
D-TN-5

 

[crackyflipside]

We need to make a list of all senate and house members and assuming we are still a free country after what happens, we will know who to vote for come election time.

 

[olehounddog]

Neither NC senators have responded to their emails. I replied to Rep. Myrick telling her that her response doesn't appear to be whether she will or will not vote for the bailout, but just what the exact conditions of her YEA vote will be. The vast majority of Americans that are aware of the specifics are against the bailout and it's her job to represent the wishes of The People.

Sen Burr will send you a form letter. Dole will not respond most likely. I usually get 2-3 letters a week from Burr.

 

[ItsTime]

Nothing from either NH congresspeople

 

[billjarrett]

Just an autoreply saying she'd reply later from my congresswoman (Melissa Bean), nothing from Durbin, the following load of crap from Obama:

Dear William:

Thank you for writing to share your concerns on the current state of the U.S. economy and the government’s response to the ongoing stress on our financial markets, homeowners, and families.

From Wall Street to Main Street, the U.S. economy is in trouble. We have suffered 600,000 lost jobs since the beginning of this year, over a million families have lost their homes to foreclosure with millions more at risk, and many banks and other financial institutions are struggling to stay afloat. The bailout of investment bank Bear Stearns, the federal takeover of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the Federal Reserve’s emergency intervention to save AIG, and the emergency Treasury action to shore up money market mutual funds demonstrate the seriousness of the situation we face.

In response to these concerns, Federal Reserve Chairman Bernanke and Treasury Secretary Paulson have met with congressional leaders to request legislation that would authorize direct intervention in the economy. The plan would grant the Treasury Secretary $700 billion to purchase bad assets from financial institutions. By doing so, the Treasury would inject much needed liquidity into the market and work to rescue the economy from a worsening downturn.

While I agree that urgent and decisive action is necessary during this time of economic turmoil, I will not grant a blank check for billions of taxpayer dollars to the Treasury to bail out banks, with no oversight, accountability, guaranteed help for homeowners, or even assurances that the risky plan will work to the benefit of American workers and taxpayers.

Instead, we must insist upon a plan that includes relief for burdened homeowners, ensures restraints on exorbitant executive salaries, and ensures that the American people share in the upside as Wall Street recovers. It is also critical that the power to spend $700 billion is not left to the discretion of any one person but is instead under the rigorous oversight of an independent and bipartisan board.

Further, we need to move forward on a second emergency economic stimulus plan including tax rebates to help families cope with rising food and gas prices and investments in jobs and relief for state budgets.

In closing, be assured that as this process moves forward I will continue to work for a fast, fair and viable response to our nation’s economic crisis. Again, William, thank you for sharing your comments and concerns with me. Please feel keep in touch on this, or other matters of importance to you.

Sincerely,

Barack Obama
United States Senator

 

[olehounddog]

Why state reps?

My reply from my State senator Steve Goss said if he was in Washington he would do something. So I emailed him back asking if he couldn't champion a resolution or something like that. If he disagrees with the bailout he can still make phone calls.

Even county boards can pass resolutions and send them to our elected officials to let them know how we feel. Besides their up for re-election. Maybe if we put pressure on local elected officials they should pass the word up the ladder that they are getting a lot of flack.

They are supposed to represent me, so I give them the opportunity. Then they either pass or fail as my representative.

 

[matthylland]

olehounddog,
I thought you may find it interesting that Virginia Foxx's husband was at our monthly GOP meeting tonight and he said that Virginia Foxx OPPOSES the bailout.
"She can't vote for something like that" were some of the exact words.

Just thought you (and everyone) would like to know...one more republican congresswomen who opposes the bailout!
She received applause...well she wasn't there, but his remark got applause.

 

[kaleidoscope eyes]

INDIANA
Ok, I called the DC offices of my congressman and senators
Rep Baron Hill D
Aide said it was too early for Hill to make a definitive decision (oh boy) but I pressed and he said Hill "didn't think the bailout was a good idea" ok then went on to indicate if "there was more for the taxpayers" in that he may go for it. yuck, I told him (for what it's worth) that we'd be voting his opposition come this election if he voted for this in ANY form.

Senator Luger R
No stand yet, jeez!

Senator Bayh D
Not available, noone in office taking messages either, just the machine, but my guess is he probably playing it on the fence as well.

I haven't seen anyone else from IN with any info, is EVERYONE in IN being this lame?

 

[SnappleLlama]

I received the standard lame auto-response from my congressmoron:
-

Thank you for taking the time to send me an e-mail. It is especially
important and beneficial for me to learn the thoughts, views, and concerns
of individual citizens such as you. Annually, I receive over 20,000
e-mails, letters, phone calls, and faxes from constituents.

Please know that my staff and I will fully review your correspondence.
Responses may take anywhere from a few days to a couple of months,
depending on many factors such as the current volume of mail and the
complexity of the issue to be addressed. My response will typically be by
postal mail. Sometimes, a member of my staff may call you directly.

Again, thank you for taking the time to share your comments with me. I
hope that you will continue to keep me informed about issues that are of
importance to you. Best wishes!

TODD RUSSELL PLATTS
Member of Congress
19th District, Pennsylvania

 

[MelissaCato]

I just call the phone numbers ... it feels better.

2 days ago I called every Republican Senator's office in this country. Spoke to Staff member each time, but I just had to "let them have it" straight outta the Constitution and Declaration.

YeeeeeHawwwwwwwwww !!!

Now who can I call today. I think Pennsylvania has had enough of me. LMAO

 

[ghengis86]

Indiana
Sen. Bayh - receptionist not allowed to speak on the matter; forwarded my call to the financial staff members voicemail (Justin Friedman)
Sen. Lugar - "has not formed an opinion on the issue" -his staff
Rep. Visclosky - "has not taken a position on this issue" -his staff

 

[georgiaboy]

Cool. I was hoping a thread like this had been started. Out of my three leaders in GA, here's the only response I received pertaining directly to the issue, from Senator Johnny Isakson, socialist Republican. Impressive amount of detail, but sadly very interventionist and completely in opposition to what I demanded (NO BAILOUT!). I bolded certain comments for illustration. scary.

Dear [],
Thank you for your letter regarding the economy, the financial markets and the proposal from the Treasury Secretary to the Congress.

We are in difficult financial times, and I am committed to protecting the savings and jobs of the people of Georgia by making sound decisions on both immediate actions as well as long-term actions.

First, our economic stress is rooted in the decline of the housing market. The cause of the decline was the funding of marginal credit mortgages (subprime) through the creation of mortgage-backed securities that were sold around the world. As the default and foreclosure rate on these mortgages increased, the value of the securities declined. As the values declined, the balance sheet of the financial institutions that bought them deteriorated. The market for these securities declined and ultimately evaporated, thus causing a liquidity problem for the financial institutions and a credit crisis for American consumers and small businesses.

In the immediate term, we must address the credit and liquidity crisis. In the long term, we must put in place the oversight and safeguards to ensure the transparency and accountability necessary to prevent this from happening again. The Treasury has proposed using up to $700 billion dollars to purchase, at a discount, these mortgage-backed securities. This would provide liquidity to the financial institutions and improve their balance sheets. The important question is this: "Is the taxpayer of Georgia protected?" If the Treasury properly discounts the securities to, say, 50 or 60 cents on the dollar, and holds the securities to maturity there should be little or no cost to the Treasury. More importantly, investors will return to the market and will compete with the Treasury to by these discounted securities and the market will be reestablished. I am working to ensure the safeguards necessary for maximum security for the taxpayer.

In the long term, we must bring transparency and accountability to Wall Street. While I am not a big government regulator, if the investment bankers on Wall Street were held to the same standards of transparency and accountability as our national banking system, this would not have happened. The security rating agencies such as Moody's and Standard and Poor also share some of the blame for the way they rated the subprime mortgage-backed securities, and they should be held accountable. I will work hard for the right reform of Wall Street.

The term bailout has been used a lot in this debate. Not a dollar of the $700 billion will go to the brokers who created the securities. Instead, they will go to the investors who bought them, and then only after they take a significant discount or loss. Properly executed, the Secretary of the Treasury and the Chairman of the Federal Reserve believe this proposal will restore liquidity to the credit markets and return confidence in the financial system.

I will continue to work for the best interest of our economy and the safety of the savings of the citizens of Georgia.

Thank you again for contacting me. Please visit my webpage at http://isakson.senate.gov/ for more information on the issues important to you and to sign up for my e-newsletter by choosing Newsletter Subscription from the topic list.

Sincerely,
Johnny Isakson
United States Senator

 

[worl]

Sessions & shelby from Al. oppose the bailout. I've sent messages to them every morning & evening so some are listening. I also sugested they listen to Ron Paul since he told everyone this was coming. I also sugested all these people involved be investagated for fraud. Maybe start with bush & cheany & see if waterboarding works.