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No Bailout for Wall Street Without Help for Main Street!
Wall Street firms got rich while driving our economy into the ground. Meanwhile, states and local communities are facing historic budget deficits that will mean massive cuts to public services and jobs and infrastructure. Congress must not allow the Bush Administration to bailout Wall Street without bailing out Main Street and helping working families.
Join our campaign. Send the letter to Congress today!
| Sample Letter for Campaign |
Subject: Congress must pass a responsible economic recovery plan
Dear [ Decision Maker ] ,
As a tax payer, I will not sign over a blank check to Wall Street. Any bailout legislation must include the following:
* Aid to the States -- An economic recovery for state and local governments
* Fairness -- A moratorium on home foreclosures that gives homeowners a chance to stay in their homes
*Protection -- Strong public oversight at the agency created to oversee the bailout.
* Accountability -- Strengthening of current financial regulations and a commitment to protect the public's money when it is given to private companies.
* Transparency -- An independent public agency must administer the bailout plan.
* Restrictions on CEO Pay -- No golden parachutes or rewards for the CEOs who caused this crisis.
Sincerely,
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Campaign Launched:
August 15, 2008
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We believe it is imperative that Congress pass an economic recovery plan before
it adjourns for the Fall elections. As the national economic outlook continues to darken,
Congress must not allow the current call by the Bush administration for a massive bailout
of the banking industry to delay passage of a comprehensive economic stimulus measure.
The need for a robust economic stimulus package that includes aid to states to
prevent cuts in health care and unemployment benefits for those looking for work, invests
in job creation and infrastructure, and helps maintain a basic standard of living through
an increase in food stamp assistance is greater now than ever. As Congress works to
restore accountability and stability to our nation's financial institutions, it must not tum
its back on the urgent needs of millions of hard working Americans who struggle to pay
the bills, feed their children and seek health care if they fall ill.
With respect to the financial services bailout, we believe it cannot be a blank
check that does nothing to address the problems that brought about the current crisis, asks
nothing from those who brought it about, and lacks any accountability for an
unprecedented expenditure of taxpayer funds that could saddle us all with enormous debt
for decades to come. Any measure considered by Congress must be transparent,
accountable, and administered by an independent body. It should include strong
regulatory protections to address the root causes of the problems and prevent a repeat of
this or related crises. It must protect taxpayers by ensuring that government will not
purchase assets at inflated prices nor later sell assets at below market rates. And, it must
protect at-risk homeowners and work to keep people in their homes.
The time is now for Congress to enact an economic recovery plan that addresses
the real needs of average Americans and ensures that the congressional response to the
financial crisis promotes the public interest.
