Wednesday, September 17, 2008

Letter to Congress: Stop The Bailouts

Dear Congress Member

I've been very close to the markets for some time now. I'm very aware of the things that are going down now. I am also aware of many of the potential consequences as some of these institutions like AIG, Bear Stearns and others fail.

I submit to you however that these institutions must fail. By propping up housing prices, and the markets, prudent investors like myself, and better, functional institutions, are being robbed of actual cash by the less cautious, and more reckless market players.

Keeping these failing institutions is hurting market transparency, creating greater moral hazard in the marketplace, preventing new functional institutions from reinvigorating the markets.

I am one that believes very much in market policing, and I believe just as with FEMA and Hurricane Katrina, the bush administration has stripped the markets of much of the effective enforcement that could have mitigated some of the disaster we're facing now. But now, the current government intervention amounts much more toward Corporate Welfare, and a corporate run government. These actions do not represent the best interests of the markets or the people.

These actions seek to prop up institutions that have proven they are failures.

Please prevent tax money from going to these institutions. There are much better ways to let this economy adjust.

Thank you for your time and consideration.

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