While it may be necessary to bail out those on Wall Street who caused this financial crisis, it must be done with the absolute assurance that any such bailout will be closely regulated and monitored by the Congress and the Executive Branch.
* The financial industry must not be given a blank check when taxpayers are literally bailing out those who have destroyed the middle class as we know it.
* Taxpayers should not spend a dime to reward CEOs on Wall Street.
* Taxpayers should be protected and should be able to recoup the investment that they will put forward in this so-called bailout.
* Homeowners who face the possibility of losing their homes because of the sub-prime scandals should be protected at all costs from losing their homes. If the Government has to pay mortgages for those who were taken-in by the sub-prime scandals, it should do so.
Let me make clear that this will be an issue not only in November, but also in the elections of 2010 and in the years to follow. Government has a responsibility to protect the American citizen in a global economy. Congress has failed to do this. There is no reason for this abdication of responsibility. Where were the regulators and the enforcers of the regulations when they were needed? Congress should be indicted for its gross negligence which has gotten us to this point.
Many of our Representatives - both Republicans and Democrats - are unfit for the office that they hold. I can only hope and pray that the American people will hold them accountable.
Matt The Democrat Famiglietti