Tuesday, September 23, 2008

Barack Says: No Golden Parachutes

Dear Barack,

Thanks for the nice email you sent earlier today. I got a nice card from Michelle too! The other day Joe wrote also. I just don't know how you all have time to write these personal emails.

But I was so glad to hear what you said this about the Wall Street debacle.

  • No Golden Parachutes -- Taxpayer dollars should not be used to reward the irresponsible Wall Street executives who helmed this disaster.
  • Main Street, Not Just Wall Street -- Any bailout plan must include a payback strategy for taxpayers who are footing the bill and aid to innocent homeowners who are facing foreclosure.
  • Bipartisan Oversight -- The staggering amount of taxpayer money involved demands a bipartisan board to ensure accountability and oversight.

I have to remark, though, I wonder why, when I knew these mortgages that these banks were writing were ridiculous, didn't Congress and the Treasury Department know it and act about 4 or 5 years ago. I do want you to do something now, but earlier would have been better.

By the way, CaDh8 wrote an incredible blog about making use of our resources and such (better than Wall Street has.) You must read it.

Michelle sent me a nice video too. Have you seen it?

So a debate. And Michelle asked me to throw a party. Is she nuts? Well OK, maybe my friend T.S. Eliot would come. He's a bit of a cynic. Here's what he said the other day:

"An election is coming. Universal peace is declared and the foxes have a sincere interest in prolonging the lives of the poultry."
T. S. Eliot

So drop over on Friday after the debate. We'll have wings!


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