Thread: ALIPAC RED ALERT: No Amnesty For Illegals or Wall Street!

I too have been on this since first hearing of their plan. emails, and phone calls. However when I have problems getting through on the phone I'm finding faxes are going through.

Response I got from Sen. Isakson from GA.
Needless to say I called his office and told his staffer to let him know that I wanted him to vote NO on the bail out and that if he votes Yes I will vote against him when he is up for re-election.

Keep making the calls they need to hear from us repeatedly.

Dear Mr. and Mrs.


Thank you for your letter regarding the economy, the financial markets and the proposal from the Treasury Secretary to the Congress.



We are in difficult financial times, and I am committed to protecting the savings and jobs of the people of Georgia by making sound decisions on both immediate actions as well as long-term actions.



First, our economic stress is rooted in the decline of the housing market. The cause of the decline was the funding of marginal credit mortgages (subprime) through the creation of mortgage-backed securities that were sold around the world. As the default and foreclosure rate on these mortgages increased, the value of the securities declined. As the values declined, the balance sheet of the financial institutions that bought them deteriorated. The market for these securities declined and ultimately evaporated, thus causing a liquidity problem for the financial institutions and a credit crisis for American consumers and small businesses.



In the immediate term, we must address the credit and liquidity crisis. In the long term, we must put in place the oversight and safeguards to ensure the transparency and accountability necessary to prevent this from happening again. The Treasury has proposed using up to $700 billion dollars to purchase, at a discount, these mortgage-backed securities. This would provide liquidity to the financial institutions and improve their balance sheets. The important question is this: "Is the taxpayer of Georgia protected?" If the Treasury properly discounts the securities to, say, 50 or 60 cents on the dollar, and holds the securities to maturity there should be little or no cost to the Treasury. More importantly, investors will return to the market and will compete with the Treasury to by these discounted securities and the market will be reestablished. I am working to ensure the safeguards necessary for maximum security for the taxpayer.



In the long term, we must bring transparency and accountability to Wall Street. While I am not a big government regulator, if the investment bankers on Wall Street were held to the same standards of transparency and accountability as our national banking system, this would not have happened. The security rating agencies such as Moody's and Standard and Poor also share some of the blame for the way they rated the subprime mortgage-backed securities, and they should be held accountable. I will work hard for the right reform of Wall Street.



The term bailout has been used a lot in this debate. Not a dollar of the $700 billion will go to the brokers who created the securities. Instead, they will go to the investors who bought them, and then only after they take a significant discount or loss. Properly executed, the Secretary of the Treasury and the Chairman of the Federal Reserve believe this proposal will restore liquidity to the credit markets and return confidence in the financial system.



I will continue to work for the best interest of our economy and the safety of the savings of the citizens of Georgia.



Thank you again for contacting me. Please visit my webpage at http://isakson.senate.gov/ for more information on the issues important to you and to sign up for my e-newsletter by choosing Newsletter Subscription from the topic list.


Sincerely,
Johnny Isakson
United States Senator

rwrightwrote

Keep making the calls they need to hear from us repeatedly.

Yes letting them know a vote for the bailout means NO vote for them whether Dem or Rep.

I called ALL my GA reps & both senator's offices in DC. They said they were inundated with angry calls opposed to this bailout actions. They couldn't say how the Reps/Senators stood on the matter, since "it's SO complicated & much to be studied...", but I let them know that they're being watched on this matter & will certainly feel it at the voting polls if they support this OUTRAGE against the taxpayers.

BTW, I HOPE there will be a posting of WHO votes FOR or AGAINST whatever bill comes out on this, so we can all be sure whose heads should ROLL & whose heads should be annointed with oil. Please let me know!

Mine was one of the angry calls.

Although, I was not rude but firm!

Originally Posted by Serenanocturna

I called ALL my GA reps & both senator's offices in DC. They said they were inundated with angry calls opposed to this bailout actions. They couldn't say how the Reps/Senators stood on the matter, since "it's SO complicated & much to be studied...", but I let them know that they're being watched on this matter & will certainly feel it at the voting polls if they support this OUTRAGE against the taxpayers.

BTW, I HOPE there will be a posting of WHO votes FOR or AGAINST whatever bill comes out on this, so we can all be sure whose heads should ROLL & whose heads should be annointed with oil. Please let me know!

Welcome Serenanocturna! Thank you for joining the fight!

Thanks, rwright, for the info on Isakson!

It sounds like he's making all the noises of someone whose rationalizing giving away tax $$ in order to make all the pain go away!
When criminals victimize people, those victims usually are hurt bad! That's when you prosecute & punish the perps, NOT the taxpayers!

He was weaselly about the PRO-illegal alien bill in the Senate last summer & he's being a Bush weasel again.

I get the feeling ALIPAC should NOT endorse this guy.

Thanks, working4change. I feel quite at home. :P

FYI

I got an email reply from John McCain today, and I thought I’d share it with you folks.

My email to him was basically the all the talking points William gave us in his alert email. I just touched them up a bit so they flow together and not just be bullet point statements.

-----------------------------------------------------------------------------

September 27, 2008

Mr. Xxxxxx Xxxxxx
123 XXXXX Ave
XXXXXXX, IL 60XXX-XXXX
Dear Mr. Xxxxxx:


Thank you for contacting me regarding the state of our nation's economy and the dire situation facing some of our largest financial institutions. I appreciate knowing your views.

This unprecedented financial crisis requires strong leadership, prompt response and sensible action in order to restore a sound foundation to financial markets, get our economy on its feet, and eliminate this burden on hardworking middle-class Americans. I have spoken with Secretary Paulson and will be carefully reviewing the full Administration proposal, as well as any modifications that might emerge in Congressional negotiations. We need to proactively resolve the situation faced by troubled financial institutions, enforce discipline on management and shareholders, and minimize the burden on the taxpayer.

Clearly, we have much work ahead of us and the American public is counting on us to fulfill the jobs that they sent us here to do. We need to work together to institute sound policies that will stimulate and strengthen our economy and promote our nation's long-term economic growth. My goal is to ensure that any legislation will provide for oversight and transparency to ensure that we are good stewards of the taxpayer's money, will generate a real relief to tight conditions in credit markets, and include measures that provide accountability on the part of those assisted in exchange for government financial assistance.

Again, thank you for sharing your thoughts on this very important matter. Please feel free to contact me on this or any other issue of concern.

Sincerely,
John McCain
United States Senator
JM/dkr