My opinion of the $700B bailout

After much thought, I wrote the following letter to Ms. Feinstein, Ms. Boxer, and Mr. Herger.  I tried to mail this to Christopher Dodd who heads up the committee on finance, but he only accepts mail from citizens of Connecticut.

"I am representative of the ordinary citizen who has money invested in the stock market and have seen it drop by 50% in the last 3 months.

After reading and hearing about the $700B bailout plan, I am OPPOSED to it being passed.  The fact that this is a guess without knowing the ramifications until it actually happens is too big a risk.  Also, as a citizen, I am against buying 'toxic mortgage debt' that no one can discern as to who owes who and the valuation of it is unquantifiable.  I think that the excess that has occurred because of the bubble in the housing market needs to be corrected by allowing the market forces to take their way.  This destruction allows us to reach the bedrock and allow for reconstruction.  More debt to our already staggering balance only makes us weaker as a nation.  Collectively, we all need to learn how to manage debt and not let it get out of hand.  The time is NOW.

Thank you for reading my view."

I feel strongly enough about this subject to write to these representatives.  I welcome reading your opinion here.