GOVERNMENT RESPONSE

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joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
GOVERNMENT RESPONSE

what follows is the period that ends the sentence of my quest to get thru to my elected officials.

it is replies like these which tell me it is hopeless to deal with these idiots with anything other than an assault rifle.

i dont like being taken for a fool unless it serves my purposes. in this case it does not. and it is the pablum they keep feeding us. I FOR ONE AM OVER IT. last time i wrote i told her not to bother sending a reply. so what does she do .........sends a reply  she thinks th epeople of arkansas are stupid.............shae may hava point .......they elected her.

any body else having any better luck out there?

Dear Joe:

            Thank you for contacting me regarding the Emergency Economic Stabilization Act of
2008 (HR 1424) and our country’s ongoing financial challenges.

            As you may know, HR 1424 will provide up to $700 billion to the Secretary of the
Treasury to establish the Troubled Asset Relief Program (TARP). Through TARP, the Secretary
will be able to purchase assets from financial institutions, thereby removing this troubled debt
from the open market. TARP will receive an initial allotment of $250 billion. An additional $100
billion may be provided if the President determines that it is needed. A final $350 billion may be
provided, pending Congressional approval.

            The legislation also creates a Financial Stability Oversight Board to review the actions of
TARP and ensure that its practices protect the taxpayer’s investment. For every $50 billion in
assets purchased, the Treasury will be required to provide to Congress a detailed report of all
transactions, pricing and financial terms involved. It also provides the Securities and Exchange
Commission (SEC) with the authority to suspend Mark-To-Market accounting practices to better
protect shareholders and consumers..

            American taxpayers will not shoulder the ultimate cost of this legislation. Any companies
who sell participate in this program will be required to provide warrants to the Treasury so that
taxpayers will be repaid from any future growth in the company as a result of TARP. As
purchased assets regain value and are sold, all proceeds will go toward retirement of the debt. In
addition, if the assets purchased by the government never regain their value, the companies who
received the assistance must repay the taxpayers for the non-performing assets.

            Also, HR 1424 contains provisions that will limit compensation for executives involved
in troubled companies participating in TARP. Participating companies will lose tax benefits
related to executive payments and will be required to limit executive salaries. There will also be
strict limits placed on severance packages (also known as golden parachutes) and unearned
bonuses.

            While not perfect, I believe this legislation is far more practical than the bailout package
originally proposed by President Bush and Secretary Henry Paulson. The final legislation
approved by Congress and signed by the President includes important safeguards to help ensure
that taxpayers receive a return on their money and that executives of companies that participate
in this program do not receive outrageous payouts.

            The legislation also includes some important tax incentives that will help bring stability
to businesses and working families, including an expansion of the child tax credit and extensions
of the research and development tax credit, accelerated depreciation for businesses and tuition
deductions for college students. It will also provide a patch to prevent many middle-class
Americans, including thousands of Arkansans, from having to pay the Alternative Minimum Tax.

            To reiterate, there are certain aspects of the economic stabilization legislation I do not
agree with, I believe not taking action would have made our nation’s economic condition ever
worse. That is why I voted for this package– to implement a strategy to stabilize the markets and
bring greater confidence to investors and businesses by creating an environment that promotes
growth. When Arkansas’s small businesses can’t make payroll, students cannot get loans to fund
their education and consumers cannot secure home or car loans, it will be too late.

            I appreciate knowing your views regarding this legislation. Like many Arkansans, I am
outraged that taxpayers are being asked to rescue our financial system because too many
investors on Wall Street acted irresponsibly, which has put at risk the economic and retirement
security of millions of Americans. Since this crisis began, my first priority has been and remains
the well-being of Arkansas taxpayers. We did not get into this situation overnight, and we will
not get out of it overnight. There is more to be done to ensure long-term stability in our economy.
Congress should continue to take steps to put our economy back on track, and I will continue to
fight to help ensure that Arkansans and all Americans have the opportunities and wherewithal to
provide for themselves and their families.

            Thank you again for contacting me. I am proud to represent the citizens of Arkansas in
the U.S. Senate and hope you will not hesitate to let me know whenever I may be of assistance to
you in the future.

 

rlee's picture
rlee
Status: Silver Member (Offline)
Joined: Sep 18 2008
Posts: 148
Re: GOVERNMENT RESPONSE

Holy crap Joe!  Your getting government spam mail!!!

This looks like a  sales brochure in print style for your enjoyment.  And yes, to answer your question is that she in fact does think the sheeple are stupid.  She and others like her are all better and smarter than the rest of us.  That's why they're in charge and we are not.

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: GOVERNMENT RESPONSE

here's another

this from "my" congressman. in my email to him i suggested he be put in jail.

this is his response. hahahahahahahahahahahahahahahahaha

 

 

Thanks
so much for your email voicing concerns about the economic recovery plan.  I hav
e
had many views, 
both positive and negative,
and very good suggestions
concerning the plan.  We have and
will continue compiling this information to use and to pass along. 

 

As
you know, the financial market worldwide 
has and is
experiencing chaos, with many huge banks and institutions failing and creating a domino effect.  The
economy and the stock market are now in crisis.  American families are 
beginning
to face
great difficulty in getting loans to purchase a home,
buy a family car or finance a child's education and small businesses are unable to attract the credit
they need to keep and create jobs.  If the government didn't act, there was fear of an international 
meltdown
of the financial industry
and this plan was an effort to cushion
the blow.  My concern is and has always been to protect the taxpayer first by ensuring that 401(k)'s,
Individual Retirement Accounts (
IRA's),
and pensions are safe and to prevent further layoffs and loss of jobs. 

 

I
have been very disappointed in the lack of oversight so far and will help to change that in the future. 
I have also been angry over reports that institutions who have received taxpayer money are using that
money for executive bonuses and lavish trips and will work to make sur
e
that is not the case and 
I support the appointment of
a special prosecutor to indict those that are responsible for causing this mess.  I also have real concerns
with further bailouts for troubled industries and a huge additional stimulus package and I look forward
to working with my colleagues on both sides of the aisle in the coming months to further address our
country's economic situation.  Thanks again for the input.  Please be sure to visit my website at 
www.boozman.house.gov
for further updates. 

 

 

 

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