No Bailout on the Backs of the Middle Class

I need your help to oppose Bush's Plan to Bailout Wall Street at Taxpayer Expense.

Co-sign a letter to Secretary Paulson here.

For years, we have heard the Bush administration tell us how "robust" our economy was and how strong the "fundamentals" were. That was until a few days ago. Now, we are being told that if Congress does not act immediately and approve a $700 billion Wall Street bailout proposal there will be an unprecedented economic meltdown in the United States and an unraveling of the global economy.

Shockingly, having looked the other way while Wall Street hucksters looted the economy, the Bush administration now wants American taxpayers (and our children) to pick up the tab. I say "no way." But I need your help to let officials in Washington know that Americans don't want to be saddled with the cost of this bailout -- a bailout made necessary by the Bush administration's deregulatory fever and Wall Street's insatiable greed.

You can view (and even download) a video message here.

Comments

[JTyroler]

If there were any big shots on Wall Street that violated any laws, I do hope they are prosecuted. Unfortunately, there aren't a lot of laws left to prevent this kind of financial bacchanalia. Out political system has turned into a system of the citizenry propping up corporations.

The fact that some person could get a mortgage on a house that he or she or might not be able to afford does explain the fact that CEOs were making tens of millions of dollars in salaries and bonuses regardless of how well (or poorly) they managed that business. That wannabe home owner did make the decision to sell their mortgage to multiple investors.

I'm guessing that my share of this bailout is going to someone who does NOT need it more than I do. I'm guessing that my share of this bailout is probably not going towards employing another person who has been searching for a decent paying job.

[montre1]

I Am Angry!!!

I did not buy a house or purchase anything on credit. I work paycheck to paycheck already being overtaxed, paying high gas prices, high groceries, high rent, HIGH EVERYTHING! Now because of the banks greed- and YES....this is their responsibility. They gambled and they LOST!
This bailout proposal (and NO- it IS NOT A "RESCUE PLAN" no matter how they want to sugar-coat it) does nothing to help me or most other americans. It's directly wanted to help the guilty!

What more do you want from us????? This government has stripped us of our freedoms our fourfathers and many others fought for, they have allowed these corporations to send our jobs overseas in order to pay pennies on the dollar for slave labor with no rights or protections, they lay tax upon tax, upon tax on paychecks, bills, gas pumps, and everything else.... our purse has been pried open because they might have missed a nickle. So many families homeless, so many others can't put food on the table.

I want to know why WE (the innocent) are expected to bare the burden when we have lost so much more. Other countries suffer because they expect us to buy up their imports- WITH WHAT?????? Our country has made sure to strip anything away from us. People started living on money they didn't have. They still had families to feed. Corporate america took their money and their jobs with our governments blessing!

[Rapieress]

I am so angry by this mess that I don't have the words to even begin to describe my thoughts. I work in a small two person business of graphic designers and am a single mother. I have always paid my bills and lived a carefully modest life to make sure my son is fed, clothed and has a roof over his head. If this puts our life into a tailspin I will never vote for anyone who was in office during this mess and voted to bail out companies that I know were poorly run. I worked for NAMC with WAMU bought it from the Dime - don't get me started on the mismanagement that is WAMU. My guess is these large failures are more due to hedge fund bets that lost than the mortgage problem. T

[wallygator]

I signed the petition and wrote Sen. Nelson 2 days ago. With no faith in Sen. Martinez And Rep. Buchanan I didn't bother.

[metogamekun]

Sen. Sanders,

Thank you for standing up for the American people.

John Metcalf

[lifeinfullcolor]

I can't believe the audacity of these people, Paulson and Bernanke use the DOW as their gun put to the heads of the American taxpayer, why, because that's where the majority of baby boomers have their retirement funds. How is it that the derivatives market is so huge, hedge funds, if baby boomers knew that their retirement has been spent on derivatives there would be a revolution, there should be a revolution.

[bayside]

Bush wants the amero to reign not the dollar. Stop him ..He and friends are purposely doing this.

[bayside]

For your informatio­n,Authoriz­ed raids of individual accounts part of bailout (20 Sep 2008)
http://www.marketoracle.co.uk/Article6337.html
RAIDS OF INDIVIDUAL ACCOUNTS Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process. Finally the corrupt USGovt and corrupt Wall Street houses are desperate enough to put into policy, stated by the US Federal Reserve, outlining the authorized raid of your money... [Purchasing gold is OK, but it can be taken away if the govt declares it illegal to own. Silver is less likely to be confiscated. Gold will rise 5x for gold and 10x for silver in the next two to three years. Copper is going up, and is easier to sell at junk metal yards]

[MoeB]

Thank you Senator for being concerned about the taxpayers in this mess. I just hope that you all don't cower out on us like many have before (see Iraq).

If a bailout is a MUST, then I say that giving the taxpayers some sort of stake in this bailout is also a MUST. From how I see it, this is going to be yet another HUGE transfer of wealth from the middle-class to the wealthy, who will in return convince us that it is actually POOR people who are draining the middle class. This must end. NOW. No more making wealthy people more wealthy while they spit in our faces.

IF this bailout must happen, it should be on taxpayers' terms and not theirs...let us not forget, that when we go to banks for loans, we don't get to set our own agreements. Neither should they.

[RRoadrunner]

Short, to the point and well stated!

[LittleTart]

The equity we are buying should be applied to the deficit and nothing else.

[Hoelder]

I am so pissed! I was financially in trouble. They changed the law and I am in limbo. Wall Street screwed up, broke laws with help of Washington and especially Republicans and now we have to bail them out by a enormous amounts of money:

NO - NO - NO and NO

[noneIn2008]

The biggest looter is Congress. Congress uses every crisis and every disaster as an opportunity to load bills to reward their special interests. Buy a vote. The base of the problem is the dollar is becoming worthless as the government has spent without control for decades. The first thing we need to do is downsize government. Until then the problems will grow. Yet, McCain and Obama are still big government guys, no problem so small that the government shouldn't control.

[DixieMelody]

Why does it fall on us as individuals to pony up ALL the "bail out" while the government never looks at trimming the trillions wasted on:

1) Aid to other countries, many of whom hate us (especially now when we are in trouble).

2) Military bases in 130 countries. (No other country has that type of presence outside their own borders.)

3) Wars in Iraq and Afghanistan (war on a concept "terror" that will NEVER be won and the Talaban is stronger than ever).

4) Corrupt and inept contractors in Iraq who have reaped billions of our dollars with little or nothing to show for it PLUS the billiions that have disappeared.

5) Our own bloated government (The Office of Homeland Security alone has 16 offshoot agencies.)

6) Senseless unworkable war on drugs which has caused our prison population to swell and the US to have more prisoners per capita than any other country in the world.

7) Take away Bush's "temporary" tax cut for the wealthiest 1.5% of Americans.

8) Close the tax loopholes used by the wealthiest to pay little or not taxes.

9) Quit funding Blackwater whose primary focus has become keeping the American people in check.

10) ENDLESS OTHERS.

[NoMoFearNoMoHate]

The Senator's website seems to be getting overrun!

[NoMoFearNoMoHate]

Senator, I want to thank you with all of the gravitas that I can muster for being a true voice for the people of this country in what is, quite possibly, one of its darkest hours.

Still, I would question - will not our petition fall upon deaf ears? Is there really any hope of heading off this catastrophe with more thought and foresight than has been displayed by the leaders of this country in many years. I must say, I am relying on Senator Obama becoming President and using the foresight he showed when it came to Iraq and his willingness to listen carefully to voices of reason such as yours to lead us forward.

Again, I Thank You.

[onelife1]

COUNTRY FIRST !

Then they run around checking who's wearing a flag pin.

[Sammy1]

I'll take my medicine now, thank you.
Short term pain... long term fix
rather than
Short term fix...long term pain

[luziannagirl]

I read it, signed it, and sent it to the most fiscally responsible folks in my e-address book, whom I'm positive are equally appalled at this Wall Street horror show.

Thanks Senator Sanders, whomever you are. I didn't even look to see your political party affiliation.

Fellow HuffPo'ers, flood your Congressional inboxes and swamp their phone lines! Enough is enough!