The $700 billion dollar bailout legislation will result in a huge expense to taxpayers -- with all the benefits going to corporations and large stockholders. Most economists think that this plan will fail to address the underlying issues that caused the crisis. And there are many other issues for concern in the bill, such as whether the mechanism to prevent excess compensation will actually work in practice.
There's no excuse for Congress to repeat the folly of the Patriot Act and pass half-baked legislation that creates huge problems for our country. Let's send a mesasge to Congress: rather than allowing the decision to be driven by politics, false urgency from the Bush Administration, and Wall Street greed, we should take the time to have a full debate, making sure to include the input from economists AND consumer advocates ... and make sure we're not giving a blank check to Wall Street.
With a vote likely as soon as Monday, it's critical to act now. Here's how you can help.
Executive Summary: please check out the No blank check for Wall Street Facebook page, add yourself as a fan, let your friends know, and blog about it.
How to help:
If you're on Facebook, it takes next to no time to sign up as a fan. While you're at it, please post a link to wherever you're reading this to your profile, and share it with your friends; and maybe even write a note about it.
If you're on other social network sites, please check the current list. If you don't see your site, please help out by starting up a No blank check for Wall Street! page there as well.
If you're a blogger or journalist, why not cover this as an emerging story? It might well turn into the fastest-growing social network activism campaign yet, and you've got a chance to get a scoop.
And if you use email, please send mail to your friends and ask them to join!
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