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Letter to my congressman


applebutter

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The Honorable Louie Gohmert

U.S. House of Representatives

 

Dear Representative Gohmert:

 

I am pleased that the Congress has taken steps to avoid a liquidity crisis. I thank you for your part in it, although at this point I do not know of what that part consists. I am confident that you used your best judgment, and I have faith in that judgment.

 

I saw the Speaker of the House and the House Financial Services Chairman as well as the Senate Majority Leader announcing that an agreement has been reached. I am somewhat disappointed that they are claiming that the crisis was due to 'reckless deregulation'.

 

It is my understanding and I believe there is a general sense that the cause of the crisis was in fact intentional meddling on the part of members of the House and the Senate, as well as malfeasance on the part of executives of Fannie Mae and Freddie Mac.

 

I pray, as the current crisis gradually becomes a distant memory, that those who are responsible for this mess can be held accountable in the deepest sense. By accountable, I mean criminally responsible where possible and politically culpable where criminal charges are not appropriate.

 

I am aware that the Republicans in both the House and the Senate are in the minority, and because of that there are limited avenues to pursue these ends. It may be that the Republicans can win one or more majorities in the coming election. If not, I believe that any means available should be used.

 

These people have put my future, the future of my country and the future well being of my children at serious risk for what I can only interpret as a scam for personal gain. This cannot be allowed to happen again. And it cannot go unpunished.

 

I also pray that the legislation that turned local banks into predatory lenders, the 1995 expansion of the Community Reinvestment Act, is effectively reformed to prevent the possibility of a recurrence.

 

Best Regards,

applebutter

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I sent Louie a note this morning too. Didn't copy it, so I don't have it verbatim, but I told him that I didn't want to see him support the bailout. Government intervention is rarely the correct solution to free market issues. I told him that I'd rather see him spend his energy making sure that the people responsible are prosecuted to the fullest extent of the law. Americans are a resolute group and while it may be painful now, but we we will be better in the long run to take our lumps. The bailout does not guarantee that we still won't go through a recession or depression anyway.

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Criminal? Since when is trying to mazimize returns on investment criminal. When all the folks were making everyone money where was the outrage then? Think you didn't make money? I bet your 401k/mutual fund had a slice of the pie for the last few years while your money grew. How many of you bought a car at 0-2% interest during this time. I could go on but I hope you see the point. Come on people if you are against the bill fine but don't try to turn around and dump on the capitalist system you are supposively for in the same breath

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Criminal? Since when is trying to mazimize returns on investment criminal. When all the folks were making everyone money where was the outrage then? Think you didn't make money? I bet your 401k/mutual fund had a slice of the pie for the last few years while your money grew. How many of you bought a car at 0-2% interest during this time. I could go on but I hope you see the point. Come on people if you are against the bill fine but don't try to turn around and dump on the capitalist system you are supposively for in the same breath

I'm at a loss. Maybe you didn't actually read what I wrote.

 

I'm not a fan of Sarbanes/Oxley. But misstating corporate earnings in order to receive a large bonus is criminal. This was done by CEOs and other executives at both of the GSEs. The Congressmen and Senators that put coersive pressure on regulators to keep them from regulating may not be criminal. But they are scumbags.

 

As far as my guilt is concerned, you are way out of line. I haven't bought a car at less than 5.95% in my life. I have never had a sub-prime mortgage, or any adjustable rate mortgage.

 

Yes, I made more money than I would have in a less inflated market. But I am not required to become an expert every nuance of every market in which I invest. If I had been aware that the market was unrealistic, I promise, I would have gotten out.

 

By the way, I wasn't really against the bill. Please see the first paragraph of the letter. I was willing to defer to the judgment of my elected representative. He's a lot closer than I am to the issue, and he has the time to devote to the question.

 

I've read over what you wrote several times, and I feel like I ought to call you a name or say I want to kick your butt or something. But you're a financial guy. I guess you had a bad day. How can I expect you to actually read what you choose to comment on?

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Criminal? Since when is trying to mazimize returns on investment criminal. When all the folks were making everyone money where was the outrage then? Think you didn't make money? I bet your 401k/mutual fund had a slice of the pie for the last few years while your money grew. How many of you bought a car at 0-2% interest during this time. I could go on but I hope you see the point. Come on people if you are against the bill fine but don't try to turn around and dump on the capitalist system you are supposively for in the same breath

 

 

I know you say you are in the financial industry, but do you really think all of this took place without any wrongdoing?

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I am very proud to call this man MY U.S Congressman!!!

 

I was in the House Chamber today and witnessed the vote, and it was great to see Congressman Gohmert, as well as my boss, not bow to the immense political pressure and vote their principles and districts. These guys were under a lot of pressure, but still did the right thing. Oh btw, you could cut the tension with a knife.

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Dear Elected Official,

 

First off, I want to thank you for your service to Texans, and to this great nation. I appreciate you for continuing to go to work on my behalf everyday, despite all of the negativity and partisan bickering in Washington.

 

I want to voice my concerns over the proposed $700 Billion economic bailout package that is floating around Washington this week. VOTE NO!

 

The only legislation that MUST BE PASSED is legislation to repeal the Community Reinvestment Act penalties for banks that refuse to get into the sub-prime business.

 

Even if there is some sort of rescue issued to Lehman etc., there is no guarantee that the market won't continue to decline. Let this inflated market adjust to what it should be, let the people who have bad paper in their hands eat it, and lets learn from this lesson and move forward stronger.

 

I firmly believe that we can achieve what we believe. If we walk around screaming that the sky is falling, we are going to be surrounded by darkness. If we feed ourselves positive thinking, then we can attack each day with optimism and get through all of what we have to face each day.

 

I believe in my fellow Texans and Americans more than I believe in 535 elected politicians to make America great.

 

PLEASE do not vote to rescue Wall St. with taxpayer dollars. Rescue Wall St. from liberals who think that everyone needs a 3/2/2 in the suburbs!

 

Thank You,

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