Open Letter to Senator Obama

Dear Senator Obama,

You have a unique opportunity to become a real leader in this election. I pray that you seize the opportunity.

1. I’m tired of people saying no one understands the economics of our country. This is only because our laws and regulations have to be vague enough to allow for loopholes for the people who caused our current economic problems. The basics of sound economics are actually very simple. Transparency of a house of smoke and mirrors means nothing. Sound basic bookkeeping principles are transparent by their very nature. I suggest you mandate a total restructuring of our accounting practices.

2. You know buying bad debt makes absolutely no sense, and is totally contrary to good economic principles. Bailing out the people who profited from this fiasco so that they can do it again is insanity! Instead of buying bad debt so that these unscrupulous companies can raise money for “good debt”, and actually profit from their crimes, we should be using the money to set up a credit agency – possibly use Fannie and Freddie since we own them now. If we the people make the new “good” loans, we will actually make money, which we could use to reduce the national debt, and we’ll be INVESTING IN AMERICA – not bailing out unscrupulous investors.

3. Secretary Paulson was one of the foxes before he was the Secretary. I’m sure he has personally profited from all of this in the past, and probably will again in the future. How can you trust his judgment to fix this mess ethically? A blank check with no possibility of review? How is that even American/legal?

4. These businesses need to face bankruptcy – it’s the only way to get back some of the money they’ve stolen. There should be criminal charges against all the executives and managers involved with these companies.

5. I feel that the country is being railroaded into making this decision before anyone gets a chance to think this plan through. Fix in haste, repent in leisure. Just what did Paulson say that scared everyone into lockstep to approve such an outrageous plan? The people have a right to know. I think a lot more thought ought to go into this plan. How much damage could be done before a new President could stop it?

6. Jobs: You really need to stress your plan to create millions of new businesses and jobs developing the alternative energy projects necessary for energy independence. Promise to create jobs rebuilding the crumbling infrastructure of our country – again jobs that can’t be shipped overseas, and investing in our country. And then actually keep those promises.

7. I hope you will prove that you aren’t bought and paid for by special interests and stand up for the people of this country who really have no other say in the outrage that is being forced on us.

8. You have to wonder how “we” bailed out some companies last week to the tune of 900 billion without question. I believe this quick bill is only being used to raise the limit on the national debt and give Paulson unlimited powers. Our government is structured so that one person cannot have such sweeping powers, I expect you to protect our country from the fundamental dismantling of our government and it’s checks and balances.

9. Don’t forget that McCain was one of the Keating 5. How can anyone use the RTC as a shining example of how the system has failed before and we survived to go on to even bigger failures? Wow, just imagine the next one!

I know I’m not an “expert”, but then I believe the “experts” are the problem. The fact is it should be simple, it’s only made complicated to con the people.

Thank you for considering my thoughts.