Even while Congress met this weekend to discuss the proposed $700 billion bailout, lobbyists were at work trying to influence the plan to their advantage.
Proposed Bailout Bill: Emergency Economic Stabilization Act of 2008 (pdf.)
From The New York Times:
Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.
Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages. (Read more: “Big Financiers Start Lobbying for Wider Aid“)
Michael Moore brought this to my attention in an email:
Having read further the details of this bailout bill, you need to know you are being lied to.
It says NOTHING about what these executives and fat cats will make in SALARY.
According to Rep. Brad Sherman of California, these top managers will continue to receive million-dollar-a-month paychecks under this new bill.
Here are some things We the People can do:
- Call your Representative in Congress and your Senators. (click here to find their phone numbers).
- Participate in one of the hundreds of quickly-called demonstrations that are taking place all over the country (especially those near Wall Street and DC).
- Speak out, comment online, send an email and tell your friends how you feel.
Something needs to be done, but We the People need protected and represented. I urge our Congress to protect us or face dire consequences.
We the People have leverage too.
“Aim for truth”