Tuesday, September 30, 2008

Urging Sen. Obama to stop being bullied by Wall Street

It is disappointing that while House Republicans were able to listen to the people in their constituencies, listen to ex Federal Reserve Board members how the bailout plan of giving money to banks who have paid out more than 3 B to just their CEOs in the last 3 years while losign billions for shareholders and making billions off the people who have taken loans from them, while House Republicans refused to bullied by their leaders by the traders on the stock market, Sen. Obama did nto show ANY of the leadership and change he has so promised. We urge you Sen./ Obama to take some tiem and talk to people who have supporeted you whether they feel money should be GIVEN ( in whatever form ) to the institutions and the traders who have made hundreds of billions while creating the problem. People like Bill GRoss had pointed out significant possibility of this happening while the need to make mroe profits and leverage the money more drove companies to ignore all this and forge ahead.

Thankfully to House Republicans Sen. Obama you still have time, pleasetry to work out a much better solution o this than what understandably biased Treasury Secretary has proposed so far. Please look at Warren Buffett's way of capital injectio. If Goldman Sachs ( Paulson's old company ) had to borrow from Buffett with such an enticign deal the U.S. taxpayer should not be forced to give money getting back this almost worthless bad debt! Please at least get us a deal like Buffett.

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