Little Tart loves it all…most of the time

Posts Tagged ‘Treasury Department

I am not an economist, but I am an intelligent voter and a taxpayer. The last few weeks have shone how badly an under-regulated banking industry polices its self. I understand that Treasury officials and economic officials are stressing the urgency of a federal bailout of the banking sector. However, as a fairly educated constituent, I ask that you withhold your vote until the Executive branch, the Treasury department, and the Financial Industry offer a better explanation of what has happened. Also, how they will prevent it happening again, and how the banking melt down will actually effect the lives of regular middle class tax-payers and citizens, in clear, easily understood, non-economist language. I am not talking about Bernanke using scary language like “foreclosure” and “unemployment”, I am talking about solid macro and micro economic theory and facts about how giving $700 billion of American Taxpayer’s money to rich people will protect the regular people of this nation.

In addition I ask that you do not support Section 8 of the proposed bill that would extend unprecedented rights to the Treasury Secretary and excuse that office from legislative oversight. Our nation’s first Treasury Secretary was also it’s strongest federalist, and if he, Alexander Hamilton, had intended for the Treasury Department to weld this level of power he would have advocated it during the framing. I ask that you vote against any bill that would use back door methods to alter the structure of our political system or abridge the constitution’s checks and balances through subterfuge.

Please remember that the $700 billion the banking industry is clamoring for belongs to the people, many of us are struggling against the winds of economic hardships as well, and most of us do not have golden parachutes.

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