Friday, September 26, 2008

Financial Crisis

By the time you read this it might be too late. I doubt many will read but I thought I might try posting here in case someone stumbled by. Our country is in a terrible mess and our congress and president are deeply and terribly misguided. Acting, however, is better than simply standing back and letting our economy slide into a depression. Acting, action, doing something.


I am again burdened by things politic. You see, our markets current crisis does not necessarily affect me directly but I can see how the ramifications and the fallout might be dire. I spent a bit of time thinking about this over the past couple days and have been extremely worried that we, in our haste to find a fix, are going to be burdening our children's grandchildren with a heavy debt. I have called my senators and congressman and given them each a piece of my mind. No, I do not think I am experienced enough to suggest the answer to this complex problem but it has been such a weight of concern that I could not sit here idly as someone else decided the course to be followed. I followed up my calls to the senate and congressman offices with an email. The following statement is what I sent to them.

"In this time of dire financial stress, the whole nation is transfixed by what might be a terrible long term mistake for short term gain. I am certain you understand the gravity of this issue far more than I could; however, it is necessary that I express to you my grave concerns. There is serious doubt in my mind that investing 3/4 of a trillion dollars to buy out bad debt is the appropriate tactic. I urge quick response but the response must be measured and keep the fundamentals of our economic philosophy intact. Any plan must be grounded firmly in free-market principles. Additionally, any "bail-out" deal must include provisions for equity ownership. A return on our monies must be founded in a responsible, free-market plan.

Thank you,

Michael Gibson"

I don't know if any of you is inclined to communicate with your representatives but I would urge you to at least voice your concerns. Congress works for us and can be pursuaded to do the right thing. You can easily go to and to find the phone numbers and email forms for your elected representatives. It won't take but a few minutes. Make your voice heard.


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