11/26/08 05:19 - 35ºF - ID#46854
Thanks Louise Slaughter
(i still totally don't know how to link to a journal)
November 26, 2008
Ms. IMK2 (changed so that people can't google my name and find my blog
Dear Ms. IMK2,
Thank you for contacting me with your concerns about a rescue of the financial services industry. I appreciate hearing from you on this important issue.
Like you, I am deeply concerned about years of mismanagement in government, which has led to deregulation of the financial services industry, a lack of oversight, and a complete loss of transparency, putting us into the current situation.
I am concerned about what could result if we do not take action to address this industry's failure. After the House failed to pass a similar bill on Monday, October 6, we all watched the stock market tumble nearly 800 points. That market holds onto the retirement savings of people who have worked hard for many years, and it contains the college savings of a family struggling to ensure their children a college education. We cannot afford more market failures, and the failure of financial institutions helps no one. Simply put, the savings of every family is at risk. Without help, Main Street will feel as much pain as Wall Street. With nearly all of the country's major financial institutions declaring bankruptcy or on the verge of declaring bankruptcy, we no longer have a choice on whether to offer a rescue package; the alternative, as we already saw, is a disaster. This Democratic-led Congress is taking steps to ensure that we are honoring our promise to keep your future safe, regardless of the financial services industry and its fluctuations.
I want to take this opportunity to reassure you that the rescue package I supported contains specific provisions to ensure that it benefits consumers and homeowners more than it does the people who caused this crisis. Please know that our bill will:
- Ensure that this rescue package is not a blank check.
- Expand oversight of the nonpartisan Government Accountability Office to ensure that any money spent is done so responsibly.
- Ensure that the government receives shares of companies it aids so that taxpayers will benefit once the industry recovers.
- Stand up for homeowners by taking action to prevent foreclosures.
- Get rid of golden parachutes for CEOs and trim executive pay.
- Require that if after five years taxpayers have not recouped every cent, the Federal Government will put forth a plan to recover the funds from financial institutions.
You may also be certain that the $700 billion proposed is a cap on what may be provided, but the full amount will not be provided from the start. Instead, $250 billion will be released immediately, with more money available subject to Congressional veto and only with proof of need. I am committed to using as little taxpayer money as is absolutely necessary to do this properly.
We also fought to include provisions to help Americans hold onto their homes during this difficult time. Specifically, the bill allows the Secretary of the Treasury to back mortgages so that lenders are able to restructure loans for homeowners, making it easier for families to repay their loans. The bill requires the government to work with loan providers to modify loans and stem foreclosures. It extends tax cancellation on any debt that is forgiven by a lender. This was previously counted as income by the IRS, and by not counting it, we will ensure that homeowners will no longer be subjected to taxes on money they never had to begin with.
I would also like to address charges that this bill includes "pork." The tax provisions which were included in the latest version of the this bill are simply extensions of current tax and trade policies. These are not earmarks, and money is not being appropriated. One of these provisions, which I proudly championed, extends an existing duty reduction that is vital to the continued competitiveness and survival of domestic suit-makers and textile manufacturers. These important American companies, including Hickey Freeman here in Rochester, are put at a competitive disadvantage by Canadian and Mexican manufacturers, largely because of an unintended consequence of NAFTA. This duty reduction levels the playing field for American companies such as Hickey Freeman, so that they can continue to make their products, and keep 600 jobs in Western New York rather than ship them overseas. Combined, these provisions have been non-controversial and promote the health of the wool, textile, and clothing manufacturing in the United States. At a time when American businesses may struggle to find credit, and Americans may struggle to find work, it would be imprudent to allow a provision such as this, which promotes American business and helps keep American jobs in America, to expire.
Our swift action will ensure a more sound economic future for all Americans. Please know that I supported this rescue package, which will be enacted into law shortly, because it includes these and other safeguards for our families and our economy. We saw what happens when an Administration deregulates industry to a point where insecure companies are expected to police themselves. This Democratic-led Congress is doing everything possible to ensure America keeps working, and that government is working for America.
Sincerely,
Louise Slaughter
Member of Congress
- She totally missed the point. I didn't want to hear her plans on recovering the economy. I just wanted a bailout for myself. WTF?
Permalink: Thanks_Louise_Slaughter.html
Words: 940
Location: Buffalo, NY
11/25/08 08:34 - 38ºF - ID#46836
it's that time of the year again!
it's become a tradition, so you all need to participate. plus i'm jobless and depressed so it will make me happy to bring joy and happiness to people all over elmwood.
we'll exchange the presents at the holiday party, on new years.
seriously, no excuses!
add a comment or email or post it me.
Permalink: it_s_that_time_of_the_year_again_.html
Words: 57
Location: Buffalo, NY
11/25/08 06:15 - 38ºF - ID#46833
what is placeblogger?
Permalink: what_is_placeblogger_.html
Words: 41
Location: Buffalo, NY
11/24/08 11:10 - 37ºF - ID#46825
this time was for real
it's over.
thank god.
Permalink: this_time_was_for_real.html
Words: 38
Location: Buffalo, NY
11/21/08 10:18 - 23ºF - ID#46793
outing
paul?
jenks?
terry?
libertad?
peter?
mrmike?
drew?
Permalink: outing.html
Words: 15
Location: Buffalo, NY
11/20/08 07:30 - 31ºF - ID#46778
prince william's pee pee
Permalink: prince_william_s_pee_pee.html
Words: 13
Location: Buffalo, NY
11/13/08 08:29 - ID#46680
obama is white
it totally pisses me off that it is so much more PC to call a mixed person black rather than white. and it pisses me off that mixed people (for the most part) don’t recognize their white heritage and instead choose to embrace and identify with only their black heritage. i don't buy the bull that says that that's how society see's them, thus they're forced to see themselves as such. if biracial people would demand to be recognized as both, black AND white, sooner or later, regardless of how society viewed them in the past, we’d come around and realize the absurdity of what we’ve been doing. i don’t understand why accepting the status quo is acceptable and is not cause for outrage and contempt.
we’d never say that other minority groups should suck it up and deal because society views them as one way, even when they’re clearly another. we’d never say that it was acceptable for gay individuals to be passive and conform if they were forced to live as straight because society didn’t approve of their lifestyle. of course we’d expect them to protest the stupidity and injustice. we’d never expect them to accept society’s views as unfortunate yet absolute and unchangeable. so then why is saying that mixed people view themselves as black because society forces them to is “just the way it is†and why is no one is protesting and asking for change?
i have seen so many white parents of mixed children, celebrities included (hale berry, alesha keys, obama, mariah carey) raise their kids to identify only as black and it baffles me as to why. ok, i can't speak for the parents of the celebrities, but among my white friends i've found that to be completely true.
my daughter is mixed and although she is brown (she is not nearly as black as her father and she is not nearly as white as me) she is still considered to be just as polish and just as white as she is black and american by me and my immediate family.
it would be sad to let my child grow up without learning about and experiencing such an incredibly rich and old culture that makes up half of who she is. she is quite proud of the fact that she is polish and that her mother was born in poland and identifies as a european much more so than being american and more white than black but she'd be looked at as if she’s was crazy if she'd tell people that she's white or polish, yet no one would give it a second thought if she said she was black. that is bullshit.
and what truly pisses me off the most are ethnicity questions on questionnaires. I don't understand why in this day and age they don't have a biracial option. when she was born, the nurse who was filling out her paperwork made me chose a race to put down. i asked what would happen if i refused and she replied that she would have to choose herself by observation (meaning she would mark her as black because her skin color was not completely white). it’s not completely black either, so how can we force people to be one without the other and why do these people think that that’s acceptable?
Permalink: obama_is_white.html
Words: 622
Location: Buffalo, NY
11/13/08 08:41 - 46ºF - ID#46670
anyone interested in beta testing?
Your involvement in this beta test will not only help Dyyno maximize the quality and usability of their product; it gives you a chance to show Centercode your skills as a beta tester. We will be monitoring this project to identify the participants we believe would be valuable contributors in future projects. In addition, the top performers on this test will be eligible to receive one of the two $50 gift certificates being awarded each week of this test. So get engaged and have some fun, and you could end up with some extra cash to spend!
Please click the link below to log into your OnlineBeta account and begin testing! We hope you enjoy participating in this exciting project and look forward to offering more opportunities like it in the near future.
The Centercode Beta Test Team
support@centercode.com
i guess you guys would need to register to get an account, but that's not a big deal.
--
Please click the following link to apply for this test:
--
Permalink: anyone_interested_in_beta_testing_.html
Words: 261
Location: Buffalo, NY
11/05/08 05:11 - 64ºF - ID#46561
going to see W tonight
Permalink: going_to_see_W_tonight.html
Words: 15
Location: Buffalo, NY
11/05/08 08:24 - 50ºF - ID#46544
thank god
For once I am actually proud!
Permalink: thank_god.html
Words: 17
Location: Buffalo, NY
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