String'em up - Alan Grayson's (Dem Congressional Candidate FL-08) on bailout

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Keep in mind when you read this email release from him that Mr. Grayson is the former CEO of a Fortune 500 telecom company back in the 80's and worth about 40 million dollars (minus whatever today's stock market did to him..):

www.graysonforcongress.com

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Just last week, in a period of two days, the U.S. stock market went up by $1 trillion. Why the euphoria? Because of a $700 billion direct transfer from taxpayers to rich investment bankers and their even richer clients and the expectation that another $300 billion will find its way into the deal before it's over. So tax dollars are being used to prop up the stock market, something that never happened even in the deepest depths of the Great Depression. It's corporate communism. That's the context.

Here is more context. $700 billion is over $2000 for every man, woman and child in America. For a family of seven, like mine, it's over $15,000.

Someone just took $15,000 from me and my family, and gave it to anonymous bondholders whom I've never met, who have done nothing for me, to whom I owe nothing and -- right now -- I really don't like.

More context: you could take one percent of that amount -- one percent! -- and pay off the delinquency on every home mortgage in arrears in America. And keep people from losing their homes. But ordinary people get nothing from this Administration except grief.

What do you think about the Bush Administration's bailout plan? We have heard from President Bush, Treasury Secretary Paulson, and Federal Reserve Chairman Bernanke, but have they asked to hear from you? I want to. Just click the button below to tell me what you think.

Sincerely,
Alan Grayson