If you read one post I write, ever, then read this one.
Senator Dodd has a proposal to help the economy.
Instead of a bailout, he wants to buy up the bad mortgages for 15% less than than the current market value of the house and issue new, clean mortgages to the people in those houses.
This does a number of things. It keeps people in their houses, it represents a much lower bottom line, and since it helps people actually continue to pay their bills (including the mortgage) then money can be reclaimed from it. Senator Dodd wants to put this program under the FDIC, which has things like oversight and isn't run by the people who caused the crisis in the first place.
This bill will also-
1) give bankruptcy judges the ability to alter mortgage terms, which gives victims of predatory loan companies a legal leg to stand on.
2) create an oversight board, which has actual elected officials on it, as opposed to granting unlimited power to the fed.
3) gives the federal government stock for any company that gets bailed out.
This proposal is one of the few that seems responsible and doesn't sign over huge amounts of power to the executive branch.
So, of course, Bush had vowed to veto it.
All of you- each and every person reading this- has a responsibility to yourselves, this country, and future generations to make their voice heard. I know I say this often, but the only way to make changes in the way this government is run is by letting the people you elected know what those changes are, and how much they mean to you.
Some people say that if you don't vote, you don't deserve to complain. I'm going to take that a step further- if you only care about this country one day a year (or, worse yet, one day every four years) then you need to take a second and realize how big this current issue is. Its already been referred to as the worst economy crisis since the Great Depression, and without intelligent, reasonable responses there is nothing to stop it from overshadowing that dark era.
If you ever want to buy a house, condo, car, if you want to always be able to find a job, and if you care at all about the way this country is going, a ballot is not going to be enough. Enough 15 minute phone calls can change the country, so please take the time to do it.
Let you're representatives and senators know that you support Senator Dodd's bill (or, if you don't, let them know how you feel about the $700,000,000,000 check that we're supposed to be signing over). Then tell your friends to do the same. (feel free to copy/paste this around)
Contact List:
http://www.house.gov/house/MemberWWW.shtml
http://www.senate.gov/general/contact_information/senators_cfm.cfm
Instead of a bailout, he wants to buy up the bad mortgages for 15% less than than the current market value of the house and issue new, clean mortgages to the people in those houses.
This does a number of things. It keeps people in their houses, it represents a much lower bottom line, and since it helps people actually continue to pay their bills (including the mortgage) then money can be reclaimed from it. Senator Dodd wants to put this program under the FDIC, which has things like oversight and isn't run by the people who caused the crisis in the first place.
This bill will also-
1) give bankruptcy judges the ability to alter mortgage terms, which gives victims of predatory loan companies a legal leg to stand on.
2) create an oversight board, which has actual elected officials on it, as opposed to granting unlimited power to the fed.
3) gives the federal government stock for any company that gets bailed out.
This proposal is one of the few that seems responsible and doesn't sign over huge amounts of power to the executive branch.
So, of course, Bush had vowed to veto it.
All of you- each and every person reading this- has a responsibility to yourselves, this country, and future generations to make their voice heard. I know I say this often, but the only way to make changes in the way this government is run is by letting the people you elected know what those changes are, and how much they mean to you.
Some people say that if you don't vote, you don't deserve to complain. I'm going to take that a step further- if you only care about this country one day a year (or, worse yet, one day every four years) then you need to take a second and realize how big this current issue is. Its already been referred to as the worst economy crisis since the Great Depression, and without intelligent, reasonable responses there is nothing to stop it from overshadowing that dark era.
If you ever want to buy a house, condo, car, if you want to always be able to find a job, and if you care at all about the way this country is going, a ballot is not going to be enough. Enough 15 minute phone calls can change the country, so please take the time to do it.
Let you're representatives and senators know that you support Senator Dodd's bill (or, if you don't, let them know how you feel about the $700,000,000,000 check that we're supposed to be signing over). Then tell your friends to do the same. (feel free to copy/paste this around)
Contact List:
http://www.house.gov/house/MemberWWW.shtml
http://www.senate.gov/general/contact_information/senators_cfm.cfm