Please write, call or fax your CO representatives to keep the pressure on them to oppose the bail out.
Here is a link for an easy way to get all of their information.
Campaign For Liberty
The Senate just voted in favor of the bill. Click the link below to see how our CO Senators voted. Salazar voted Yes, and Allard voted NO.
If you are still not sure what to think of this bill then watch this economist talk about the bill. Economist Asks: Is The Bailout Necessary? | CommonDreams.org
This is just 1 mainstream economist of around 200 or more that think the same way. This bail out will make things worse in the long run! This bill does NOT address the underlying problems of the financial crisis.
words from David Sirota.
Anyone who thinks we should pass the $700 billion bailout bill as is needs to answer a simple question: How does handing over $700 billion to Wall Street help the economy any more than, say, handing over $700 billion to homeowners, or spending $700 billion on a New Deal-style full employment program? In fact, you have to answer an even simpler question: How is handing over $700 billion to Wall Street a BETTER way to save the economy than helping homeowners or investing in the economy?
I've said it before and I'll say it again: If the liquidity problem is being fueled by banks holding worthless mortgage backed assets, and those assets are worthless because homeowners are having trouble paying their mortgage, then those pushing a Wall Street bailout need to explain why giving money to bankers - and not to homeowners to help them pay their mortgages - is the way to address the problem.
In considering this bill, the burden of proof is on those who want to spend 5% of our entire economy on a gift to Wall Street. If you can't answer that simple question, then I would suggest the White House fearmongering - the same kind that we all bewailed during the lead up to the Iraq invasion - is inhibiting your ability to think clearly. And not a single supporter of this bill - not Paul Krugman, not Brad DeLong, not Nancy Pelosi, not Henry Paulson, not ANYONE - has been able to answer this very simple question. The only thing most of the proponents have done is make a substance-free political argument - that this is supposedly the "only thing that can pass," even though DEMOCRATS CONTROL BOTH HOUSES OF CONGRESS.
I'd say being able to answer basic questions should be a prerequisite for spending 5% of our economy.
Contact your member of Congress and ask them to go back to the drawing board and pass a plan that includes re-regulation, New Deal style economic stimulus, bankruptcy reform, homeowner aid and a speculators' tax.