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not that I expect it to connect anymore, round these parts anyway
Office of the Speaker
H-232, US Capitol
Washington, DC 20515
(202) 225-0100
09/29/08
Madam Speaker,
I am not going to say I am disappointed of the bill that was proposed and shot down by the Republicans (and some democrats). What I am going to advise is that the leadership take the two days to come to explain to the American people WHY this needs to happen. The people are furious because they don't get it, and the President cried wolf once too many times. Problem is that the wolf is now at the door, and we all know how that nursery rhyme ends.
Now as to legislation. The Republican party will now try to pressure to get “market driven solutions” through. The same kind of solutions that led to this crisis, but now they have that power unless... the Leadership goes for a full progressive bill that deals with the root causes of this, and fully ignores the minority. This means the following:
Re-enact Glass Steegal
Impose a WPA program, this will help to get people employed
Keep all federal employees frozen in place
Update the Warner Act, to include a living wage, not a minimum wage
Some institutions have to be broken, that is what the Sherman Anti-trust Act is.
Consider nationalizing some of these banks as well. They should be used to keep credit going through the Small Business administration, to try to short circuit the freeze from private banks. This will keep the economy moving, even if not growing.
Absolute ability of Labor to organize, put an end to right to work legislation.
Expand the house foreclosure HOPE program and chiefly explain it to the people. The program needs to have that renenotiation clause that was in the original bill. If the republicans do not want to play along... this is bottom up economic policy, we know it works.
Demand union members seat at the table in wall street... as long as 401 K are part of the retirement system, they need to have a say. This should be phased out, but that is another story. If nothing else, this proves that having a market based retirement system is not a good idea. But for the moment, union reps have to have a say on how these banks work, especially if these banks take federal help.
Put absolute controls on the pay of executives at all levels on companies that decide to take the government help. I know that was in an early draft, put back in
At this point stock trades have to be taxed, every trade, period.
Expand the role of the FBI, per the bill you were going to pass, and make sure crimes were not committed, and if they were... prosecute to the full extent of the law. I suspect, that just like 1929, there were crimes committed and it will take time and resources to find them and prosecute them.
Now, this is fully symbolic... vote yourselves a pay cut. Yes, the rest of us are taking it in the chin, Congress should do the same. I should remind you that President Franklin Delano Roosevelt did not take his pay during the height of the full depression beyond room and board. In fact, he had no money to loan his son at one point.
Oh and you do need to go on the talking head shows, as well as the evening news, and explain this fully to the American people. The American people do not understand how this affects them. They see this as only a bailout of wall street.
Oh and I realize that the republicans will NOT vote for what I just put above... it is socialist... oh well... but the worst mistake you can make right now is offer an inch... for they will take a mile.
Sincerely,
******
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