Let's Tell Our Congressional Reps to Vote AGAINST Any Bailout

This is the body of a letter I wrote to my Representative (Rep. Wittman, VA-1). It contains some of the key reason I oppose a taxpayer-funded bailout.

-Ben


26 September 2008

Hon. Representative Wittman,

I am writing to strongly encourage you to vote against any and all credit market bailout packages that are brought to the House floor. I understand the idea behind the Resolution Trust Corporation, and my problem with it is that it socializes the risk of all those bad loans, while the banks it helps get to privatize their profit. There is no reason why Wall Street cannot establish and finance their own RTC, and that is what they should do. If that is what is necessary, then that is what opportunistic investors will do. Some who support the government bailout note the potential for profit down the road. If there really is a decent chance for this, then there is no reason why private investors wouldn't form their own RTC. Also, what would the Congress end up doing with such a "windfall profit"? Give it back to us taxpayers? Not likely if Congress is still Democrat-controlled. It would more likely be used to fund more useless socialist programs.

This bailout goes against what conservatism is supposed to be all about. We should be showing the citizens of this country that they don't need a "Nanny Government" to take care of all their problems. As a registered Republican, it pains me to say this, but if I find that you vote for any type of bailout, I will be forced to vote for the Democrat running against you this November. You will have completely lost my trust to carry the conservative mantle.

Thank you for your time and consideration of your constituents' views.

Best regards,
Ben Bursae