Wednesday, September 24, 2008

Concerning us all

If you’re not familiar with the economic events of the recent past, I would urge you to investigate them from the information source of your own choosing. If you’re not sure where to look, I’ll help at your request.

Once you’re familiar with the context, I’d ask you to consider the solution proposed by our elected representatives: full text here - http://money.cnn.com/2008/09/20/news/economy/treasury_proposal/index.htm :

• The Treasury Secretary (who is unelected) is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means that you and I (taxpayers) are on the hook for loans on property that may lose or have already lost most of its value.

• Financial institutions are "designated as financial agents of the Government." Obviously, taking over and running formerly private companies is NOT a Constitutionally delegated power of the federal government. Consider the precedent that is being set.

• "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process – not the courts, not anybody.

Congress may vote as soon as tomorrow. I don’t care what your political persuasion is. If you value the Constitution and ultimately your own freedom, I urge you to get informed about what’s going on. Other than that, what can you do? Let your congressperson and senators know how you feel. Phone is best, but anything is better than nothing. To get their contact information, visit: http://www.visi.com/juan/congress/

Posterity will thank you for your concern.

Lastly, I want to thank you for at least reading this far. It is my sincere hope that we will all weather this storm safely, and it is only out of my concern for our mutual well-being that I write. I hope this letter finds you all well.

5 Comments:

Blogger 頭昏 said...

友情像一棵樹木,要慢慢的栽培,才能成長真的友誼,要經過困難考驗,才可友誼永固 ..................................................

February 04, 2010 10:35 PM  
Blogger 雪糕 said...

Never put both feet in your mouth at the same time, because then you will not have a leg to stand on.............................................

March 02, 2010 1:18 AM  
Blogger 時尚 said...

好的部落格就要和好朋友分享--感謝分享........................................

March 20, 2010 4:05 AM  
Anonymous BB Guns For Sale said...

I guess the solutions make sense.. I mean the authority now vested in the hands of financial institutions will help in providing protection to consumers..

April 03, 2012 5:31 AM  
Anonymous Bakersfield Photography said...

Excellent point! Thanks for sharing your thoughts about this issue, it's interesting to read.

January 20, 2013 11:10 PM  

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