The name of the organization sure is ambitious! Not sure if this is the correct category for such a post, but here goes:
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I apologize for writing you soon again, but an opportunity has come up that we must act on.

A left-right coalition is developing in Congress to block further funds for the bailout. Senator James Inhofe (R-OK) and Senator Bernie Sanders (I-VT) are both calling for no more bailout funds for the Department of the Treasury. Under the bailout law Congress is required to approve the second $350 billion in bailout funds. Thus far, Treasury has spent $290 of the initial $350 billion. The performance of the Treasury Department and Federal Reserve has been unacceptable and does not inspire confidence. They have hidden key information from the taxpayer and Congress and they have been unsure of what strategy will work to help the economy.

Stopping the bailout of Wall Street gives Congress time to decide whether the money should be sent, and if so, how? Another alternative has been put forward by Senators Harry Reid (D-NV) and Robert Byrd (D-WV), an economic stimulus plan that costs about one-third of what is remaining on the initial bailout, $100 billion. It deals with unemployment insurance, disaster relief, infrastructure, aid to states, aid to the auto industry and other parts of the economy.

Below is a letter that we urge you to send to your elected representatives in the U.S. House and Senate. You can send the letter in a few seconds by clicking here. In addition, please pledge to Break the Bailout by visiting www.BreakTheBailout.com -- we need to show Congress that we will hold them accountable. And, forward this email to everyone you know. There is strength in numbers.


Dear (senator/congressman)

I am writing you to urge you to refuse any request for additional funds for the bailout of Wall Street and Big Finance and to make your opposition publicly clear now.

Under the TARP legislation the Congress can stop additional payments to the Treasury for the bailout. The actions by the Treasury Department and the Federal Reserve indicate that they do not deserve more tax payer dollars.

The Congress was pushed to rush to judgment in a panic created by Secretary Paulsen and Chairman Bernanke. It is now seems that the panic was exaggerated. Indeed, Secretary Paulsen sought immediate authority to buy toxic assets from banks. The implication was that this was going to be to buy bad real estate mortgages. But, last week, Secretary Paulsen changed course and said that was no longer an effective strategy and decided instead to inject taxpayer cash into the banking system by purchasing equity in companies. Unfortunately, his purchases did not include the type of representation that a major investor would expect, e.g. a seat on the board, and the return rate was half of what Warren Buffet will be getting for similar purchases.

On top of the confusion by Secretary Paulsen and poor negotiating on behalf of the American taxpayer, the process has lacked transparency. The Department of Treasury actually blacked out key information in the contracts of people and firms they hired to work on the bailout. Making matters worse, the Federal Reserve has not told the taxpayers what corporations have received $2 trillion in investments nor what security they received for the funds. This lack of transparency demonstrates that these organizations should not be trusted with taxpayer dollars.

Please let it be known that you oppose any further funds for the bailout. Breaking the bailout will provide an opportunity to consider whether money should be spent and if so how do so more effectively. If members of the House and Senate speak out on this topic a vote may not even be necessary as Secretary Paulsen and President Bush will realize that they should not ask for additional funds.

Make it clear now that elected officials oppose further bailout funds for Wall Street and big finance.

Sincerely,

[Your name]


Please take action today by clicking here. We can stop this bailout and get our economy on track.

And, please pledge to Break the Bailout at www.BreaktheBailout.com. We have a lot of work to do to harness the anger of Americans into an effective force to put in place the economy we want for the 21st Century.

Thank you.

Sincerely,

Kevin Zeese
Executive Director
Campaign for Fresh Air & Clean Politics

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