Sign the Petition: Oppose the Nearly 2 Trillion Dollar Bailout

Discussion in 'Economics' started by ByLoSellHi, Sep 22, 2008.

  1. Click below, and sign the petition, to do the only thing you can to stop the biggest fleecing of U.S. taxpayers in a single legislative act in U.S. History - let your representative know you will not vote for them if they vote for it.

    Stop The Bailouts!

    We the Undersigned Americans, having seen two 500-point selloffs in the Dow over the last week, witnessing the bankruptcy of Lehman Brothers and the bailouts of AIG, Fannie and Freddie, and seeing over eight hundred billion dollars of new debt being taken on by America that we do not have, demand immediate action of our Congress and Executive.

    All the "bailouts" and other similar actions have accomplished is to speed up the economic and market crash; they are now coming not on six month intervals but on one month intervals, and are more severe in each instance.

    This ongoing crash in our markets was caused by a refusal to force banks and other institutions to stop lying about their debt - both in the "credit default swap" market and with so-called "Level 3" assets. As a direct consequence of not being able to determine what a company is actually worth it becomes impossible for their stock to find price support.

    In addition, it was the "excess liquidity" of the years from 2001 - 2007, intentionally created by Alan Greenspan and Ben Bernanke, that led to this mess - inappropriate and even fraudulent lending - in the first place. Providing "more liquidity", which has been Bernanke's primary strategy since last August, is like giving a drunk a bottle of whiskey as a "treatment", and is equally indefensible.

    If this is not stopped the selling will rotate from financial stock to financial stock until all are zeros. Each will in turn need to be "bailed out"; down this road lies disaster as not only will the stock market crash beyond anything since 1929, but in addition we will take on so much new Federal Debt that it is very likely that foreign governments will refuse to fund our deficits - a threat that China issued, obliquely, through their official State newspaper on the 17th of September.

    This is likely to produce a bond market "dislocation" and crash in the economy similar to the 1930s if it is not stopped now. You have been petitioned in the past on these measures but have failed to act; you must now choose between decisive and immediate action and being responsible, in full, for the consequences.

    We insist that Congress and Treasury:

    Direct Ben Bernanke to "drain the swamp" and shut down the TSLF, PDCF and TAF, returning the "slosh", or free liquidity, to normal levels. We must take the bottle of whiskey away from the drunk.
    Direct The SEC, OTS and OCC to have all financial firms mark to market all assets on their books, bring all off-balance-sheet vehicles back on the balance sheet, and stop hiding assets in "Level 3" where values are literally made up.
    Insist that all "over the counter" derivatives either be moved to an exchange with a central clearing party, thereby enforcing margin limits and providing published open interest figures, or, in the alternative, declared void.
    Direct that all firms with a federal guarantee or "backstop" of any sort, including but not limited to investment and commercial banks, be strictly limited to a leverage ratio of 12:1, which is the natural limit for a system with an 8% reserve.
    Remove all "game-playing" with reserves in our nation's banks, including "zero reserve" sweeps and other similar evasions of reserve requirements, as this game-playing is part and parcel of the excessive leverage that created this mess in the first place.
    Remove Treasury's authorization to issue more debt for bailouts or any other purpose without an explicit Congressional authorization for each such action. Hank Paulson said he would not use his "Bazooka"; he lied. In addition he has now announced plans to issue $100 billion of funds for "more slosh" to be provided to The Federal Reserve, yet nowhere has this been authorized by a specific bill in Congress. Per the Constitution, all spending bills must originate in The House.
    Remove all regulators involved in willful blindness from office, including the Mr. Lockhart (formerly OFHEO), the OTS, OCC, FDIC and SEC chairs, Treasury Secretary Paulson and Fed Chair Ben Bernanke.. All must be replaced immediately as all have willfully looked the other way for nearly a decade - or more - while this fraudulent credit bubble was being fostered.
    These remedies cannot wait for the next Congress; Henry Paulson, Ben Bernanke and the other regulators are increasingly "making it up as they go along", with the latest instances adding (according to the CBO) $5.3 trillion dollars to the Federal Debt, or a doubling in just one act, plus the additional $800 billion spent on other bailouts and "market stability actions" - all money we do not have.

    We VOTE and elections are held November 4th, 2008.

    If you'd like to "sign" this petition, enter your information below and click "SIGN". This petition will be faxed to President Bush, your members of Congress, and Henry Paulson, Secretary of the Treasury. You may only sign the petition once, and your email address must be valid (the system will email you a confirmation code and instructions.)

    Email Address:
    First Name:
    Last Name:
    State: Zip Code:

    US District number: (numeric, optional)(Look up your district)

    Are you a registered Voter?

    I have read the above petition and agree with its contents. The above information is my registered voter address, or, if I am not registered, my legal address, I am qualified to vote, and will so register prior to the next election.

    We have 2051 confirmed signatures on the petition at the present time.

    Your signature and email address are used only for processing your signature. See our privacy policy.
  2. vv111y


    First would like to double check - do you know if this website is legit? As in it's not just a phishing attempt. Just being paranoid. Thanks.
  3. vv111y


    Registrant ID:TNTN-0000186693
    Registrant Name:Karl Denninger
    Registrant Organization: Denninger Consulting
    Registrant Street1:314 Olde Post Rd
    Registrant Street2:
    Registrant Street3:
    Registrant City:Niceville
    Registrant State/Province:FL
    Registrant Postal Code:32578-3904
    Registrant Country:US
    Registrant Phone:+1.8508974854
    Registrant Phone Ext.:
    Registrant FAX:+1.8508979364
    Registrant FAX Ext.:
    Registrant Email:
  4. Create a Gmail (Google email) account specifically for the purpose of answering stuff like that. It is easy to block/filter spam there and they have a good colloquial filter as well.

    Otherwise, you can use an alias ...
    They don't have any business knowing you real name.
    They will place you on those "terrorist observation list" that makes it a hassle to travel on US airports etc. And it's impossible to get off etc.

    Hehehe, gotta love the Patriot-act-isms...
  5. here we go....

    Another white knight.

    We'r doomed. Get over it.

    its too little to late for people to start playing hero.

    This is the best solution.. the alternative was 1000s of companies going belly up... due to the domino effect the fall out of the deravitive markets would have caused...

    millions of people out of work.

    Paulson / Bernanke are much smarter than you or anyone you could possibly knowm you best believe that.

    If there was an alternative remotely attractive .. that approach would have been taken.
  6. It's almost impossible to believe, but you actually seem to get dumber with every post you write.
  7. As long as Paulson and Bernanke are CORRUPT it doesn't help how SMART they are... :p

    You guys need serious oversight for these scoundrels, but better yet vote with your brains. Go Ron Paul!!!!
    Start organizing your friends for doing a voters riot - vote independent this year.
    Email everyone you know - get their pledge - and ask them to email everyone .. in 6-10 emails you have all the US covered.
  8. simon, sthu. Thanks.

    vv111y - I'm pretty sure the site is legit - not positive.

    Here is an alternative set of sites -

    Here is a list of phone, fax, and email address for all US senators: United States Senate 110th Congress Phone, Fax, Email Addresses

    Here is a second List Of Senate Contacts. I am told this list is more current. It was used to formulate the fax contact table below.

    Here is the Complete List of Email Addresses and Fax Numbers for US Congress and Governors.

    Here is a comma separated list for those of you with access to to a program that allows block faxing. You may need to modify that list slightly for your application. The bulk of the work is done.

    Formatted Fax List

    12022243416,Sen. Richard Shelby
    12022243149,Sen. Jeff Sessions
    12022242354,Sen. Ted Stevens
    12022245301,Sen. Lisa Murkowski
    12022242207,Sen. Jon Kyl
    12022282862,Sen. John McCain
    12022281371,Sen. Blanch Lincoln
    12022280908,Sen. Mark Pryor
    12022282382,Sen. Barbara Boxer
    12022283954,Sen. Dianne Feinstein
    12022246471,Sen. Wayne Allard
    12022285036,Sen. Ken Salazar
    12022241083,Sen. Christopher Dodd
    12022249750,Sen. Joeseph Lieberman
    12022240139,Sen. Joseph Biden
    12022282190,Sen. Thomas Carper
    12022282183,Sen. Bill Nelson
    12022285171,Sen. Mel Martinez
    12022240103,Sen. Saxby Chambliss
    12022280724,Sen. Johnny Isakson
    12022242126,Sen. Daniel Akaka
    12022246747,Sen. Daniel Inouye
    12022281067,Sen. Larry Craig
    12022281375,Sen. Michael Crapo
    12022280400,Sen. Dick Durbin
    12022285417,Sen. Barack Obama
    12022281377,Sen. Evan Bayh
    12022280360,Sen. Richard Lugar
    12022246020,Sen. Charles Grassley
    12022249369,Sen. Tom Harkin
    12022281265,Sen. Sam Brownback
    12022243514,Sen. Pat Roberts
    12022281373,Sen. Jim Bunning
    12022242499,Sen. Mitch McConnell
    12022249735,Sen. Mary Landrieu
    12022285061,Sen. David Vitter
    12022242693,Sen. Susan Collins
    12022241946,Sen. Olympia Snowe
    12022248858,Sen. Barbara Mikulski
    12022241651,Sen. Ben Cardin
    12022242417,Sen. Edward Kennedy
    12022248525,Sen. John Kerry
    12022280325,Sen. Debbie Stabenow
    12022241388,Sen. Carl Levin
    12022241152,Sen. Norm Coleman
    12022282186,Sen. Amy Klobuchar
    12022249450,Sen. Thad Cochran
    12022242262,Sen. Roger Wicker
    12022248149,Sen. Christopher Bond
    12022286326,Sen. Claire McCaskill
    12022244700,Sen. Max Baucus
    12022248594,Sen. John Tester
    12022245213,Sen. Chuck Hagel
    12022280012,Sen. Ben Nelson
    12022282193,Sen. John Ensign
    12022247327,Sen. Harry Reid
    12022244952,Sen. Judd Gregg
    12022284131,Sen. John Sununu
    12022282197,Sen. Robert Menendez
    12022284054,Sen. Frank Lautenberg
    12022242852,Sen. Jeff Bingaman
    12022283261,Sen. Pete Domenici
    12022280282,Sen. Hillary Clinton
    12022283027,Sen. Charles Schumer
    12022241100,Sen. Elizabeth Dole
    12022282981,Sen. Richard Burr
    12022247776,Sen. Kent Conrad
    12022241193,Sen. Byron Dorgan
    12022280514,Sen. Maria Cantwell
    12022255893,Sen. Patty Murray

    Metro Fax

    I have an existing email fax number but I opened up a second account just now for purpose of faxing every senator in the US. If a senator is missing from the list it because they did not have a listed fax number. I did not count them up.

    I chose to go with MetroFax. There are others services, but 1000 pages a month for $12.95 was the best overall deal I could find. There is a $10 activation fee, but the second month is also free. If you elect to do the same, mention my name and I will get a free month.

    MetroFax Formatted List

    Sen. Richard,Shelby,,,2022243416
    Sen. Jeff,Sessions,,,2022243149
    Sen. Ted,Stevens,,,2022242354
    Sen. Lisa,Murkowski,,,2022245301
    Sen. Jon,Kyl,,,2022242207
    Sen. John,McCain,,,2022282862
    Sen. Blanch,Lincoln,,,12022281371
    Sen. Mark,Pryor,,,2022280908
    Sen. Barbara,Boxer,,,2022282382
    Sen. Dianne,Feinstein,,,2022283954
    Sen. Wayne,Allard,,,2022246471
    Sen. Ken,Salazar,,,2022285036
    Sen. Christopher,Dodd,,,2022241083
    Sen. Joeseph,Lieberman,,,2022249750
    Sen. Joseph,Biden,,,2022240139
    Sen. Thomas,Carper,,,2022282190
    Sen. Bill,Nelson,,,2022282183
    Sen. Mel,Martinez,,,2022285171
    Sen. Saxby,Chambliss,,,2022240103
    Sen. Johnny,Isakson,,,2022280724
    Sen. Daniel,Akaka,,,2022242126
    Sen. Daniel,Inouye,,,2022246747
    Sen. Larry,Craig,,,2022281067
    Sen. Michael,Crapo,,,2022281375
    Sen. Dick,Durbin,,,2022280400
    Sen. Barack,Obama,,,2022285417
    Sen. Evan,Bayh,,,2022281377
    Sen. Richard,Lugar,,,2022280360
    Sen. Charles,Grassley,,,2022246020
    Sen. Tom,Harkin,,,2022249369
    Sen. Sam,Brownback,,,2022281265
    Sen. Pat,Roberts,,,2022243514
    Sen. Jim,Bunning,,,2022281373
    Sen. Mitch,McConnell,,,2022242499
    Sen. Mary,Landrieu,,,2022249735
    Sen. David,Vitter,,,2022285061
    Sen. Susan,Collins,,,2022242693
    Sen. Olympia,Snowe,,,2022241946
    Sen. Barbara,Mikulski,,,2022248858
    Sen. Ben,Cardin,,,2022241651
    Sen. Edward,Kennedy,,,2022242417
    Sen. John,Kerry,,,2022248525
    Sen. Debbie,Stabenow,,,2022280325
    Sen. Carl,Levin,,,2022241388
    Sen. Norm,Coleman,,,2022241152
    Sen. Amy,Klobuchar,,,2022282186
    Sen. Thad,Cochran,,,2022249450
    Sen. Roger,Wicker,,,2022242262
    Sen. Christopher,Bond,,,2022248149
    Sen. Claire,McCaskill,,,2022286326
    Sen. Max,Baucus,,,2022244700
    Sen. John,Tester,,,2022248594
    Sen. Chuck,Hagel,,,2022245213
    Sen. Ben,Nelson,,,2022280012
    Sen. John,Ensign,,,2022282193
    Sen. Harry,Reid,,,2022247327
    Sen. Judd,Gregg,,,2022244952
    Sen. John,Sununu,,,2022284131
    Sen. Robert,Menendez,,,2022282197
    Sen. Frank,Lautenberg,,,2022284054
    Sen. Jeff,Bingaman,,,2022242852
    Sen. Pete,Domenici,,,2022283261
    Sen. Hillary,Clinton,,,2022280282
    Sen. Charles,Schumer,,,2022283027
    Sen. Elizabeth,Dole,,,2022241100
    Sen. Richard,Burr,,,2022282981
    Sen. Kent,Conrad,,,2022247776
    Sen. Byron,Dorgan,,,2022241193
    Sen. Maria,Cantwell,,,2022280514
    Sen. Patty,Murray,,,2022255893

    To use the above list in MetroFax it must be copied and saved as a CSV file. (The extension must be CSV). One can use either notepad or Excel to create the CSV files. The maximum list in any one file is 50. So create Senators1.CSV and Senators2.CSV or whatever names you prefer.

    What I Am Doing

    I am emailing the plan I outlined in Open Letter To Congress On The $700 Billion Paulson Bailout Plan to every senator.

    Please phone, fax, or email your Senators asking that Congress consider my alternative plan or the Hussman plan.

    Anything is better than the plan Paulson put together.

    Please phone and FAX your Senators.
    Ask 10 people to do the same.
    Send them this link



    Please Act On This Now! It Is Easy

    In at least one email please send your senators a brief message to consider the Mish Alternative (or whatever alternative you prefer).

    Here is an easy way for those with outlook.

    Please Click The Following Link To Email Them All Now: Email All Senators.

    This is what I ask you to send. Please copy the following as the body of the email.
    Dear Senator

    Instead of rushing into a $700 billion Paulson bailout proposal, please consider the following alternatives:

    Mish's Open Letter To Congress On The $700 Billion Paulson Bailout Plan

    Hussman's Open Letter to the U.S. Congress Regarding the Current Financial Crisis

    Your Name
    Your Address
    Your Phone Number
    Your Email Address
    I updated Phone And Fax Numbers For All US Senators; More On What To Do with a MetroFax formatted list. Please blast away by fax as well.

    Please forward this to 10 people you think agree and have them do the same.

    Note: I am NOT asking you to spam your senators, I only ask you to do this if you agree with it.

    Here is the raw list;;;;;;;;;;;;;;;;;;;;;;;;;;

    Mike "Mish" Shedlock
    Click Here To Scroll Thru My Recent Post List

    Mike "Mish" Shedlock
    Click Here To Scroll Thru My Recent Post List
    Phone And Fax Numbers For All US Senators; More On What To Do
    Posted by Michael Shedlock at 2:31 PM Print

    Monday, September 22, 2008

    Senator Email Blast List Simplified: Flood Them With Emails With One Click

    In at least one email please send your senators a brief message to consider the Mish Alternative (or whatever alternative you prefer).

    Here is an easy way for those with outlook.

    Please Click The Following Link To Email Them All Now: Email All Senators.

    This is what I ask you to send. Please copy the following as the body of the email.

    Dear Senator

    Instead of rushing into a $700 billion Paulson bailout proposal, please consider the following alternatives:

    Mish's Open Letter To Congress On The $700 Billion Paulson Bailout Plan

    Hussman's Open Letter to the U.S. Congress Regarding the Current Financial Crisis

    Your Name
    Your Address
    Your Phone Number
    Your Email Address
    #10     Sep 23, 2008