Posted on 07/13/2010 7:55:39 AM PDT by bt_dooftlook
My letter to Scott Brown via his Senate office web site:
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Key observations:
1. Bill doesn't address Fannie Mae, and Freddie Mac, which were principal causes of the meltdown by lowering the credit standards for loans for their portfolios.
2. Bill is laced with minority/gender/diversity outreach nonsense, all of which will raise costs, reduce performance, and tilt the system away from fiduciary responsibility to "social" responsibility - if you feel giving loans to people who can't afford them is good policy, why not submit a bill that says that instead of hiding this nonsense in a bill that pretends to "reform"? And credit card companies will either raise fees on their non-deadbeat customers to recoup their losses or go out of business - tell me why increasing the costs to responsible borrowers to subsidize deadbeats is good policy?
3. Doesn't include taxes? HAH! Every fee it raises is passed on by businesses to consumers, as is the cost of every phony commission, council, board, or committee. Please tell me again how this will save me money?
4. You argue that the bill is not perfect, but that you will vote for it - would you eat a steak that was 10% arsenic? Why not use your vaunted 40th vote to say "This is not good enough for me and the American citizens who sent me to Washington - let's start again with a clean slate and take smaller more focused approaches to addressing problems without creating new ones."
Maybe you got a lot of large contributions during your campaign; or maybe you feel that anyone who will give money to a politician who promises to stop Obama is too rich or foolish anyway.
That donation was given because I was counting on you to stop Obama's big spending, over-regulating, socialist takeover of this country, not so you could join him at the trough.
Please vote NO on the financial "reform" bill. If you cannot do that, please have the decency to refund my contribution so that I may enjoy it a little while at least before it is taxed away by you and other anti-freedom senators.
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I’m with you. I supported the guy and campaigned for him. This is discouraging.
turning out that we were duped again i am thinking....newly elected and you still can’t trust them...i am afraid we will have the same problem here with rubio if he gets elected....i was watching him early on and he seemed good but lately i have a bad feeling about him....
The letter looks great to me.
The letter looks great to me.
Excellent. Someone else gets it on #1. Fannie and Freddie have always been a jobs bank, Dem slush fund, etc for Democrats and they employ ACORN types. Top Dem aides would get gigs there to loot and plunder - see Rahm and Gorelnick who positioned them to implode in the Summer of 2008.
He’s up for re-election in 2012. That’s the good news.
I voted for him. Am I disappointed? Not really. I think we did the best we could at the time. Is he better than the alternative? You betcha!
He is a Mass. Republican. They are not like conservatives in other places. My God, when i lived in New Hampshire, I felt like a communist.
I don’t agree with his vote here, but he is better than Teddy, and certainly better than Martha.
We can do better next time, but I am not sure what that will be.
He kind of reminds me of that idiot Stupak. Just wants his name in the news. To hell with his constituents!
Good letter. I’ve been wanting to send him a message, too.
Agree that he was better than “Marsha” but still a disappointment. Especially since he’s been “hanging out” with Kerry...UGH!!!
Letter is great. I am going to write and ask for my 20 bucks back. Doesn’t seem like much to some but to us who are on a fixed income it is quite a bit. I am sorry I supported this obvious Rino and was afraid he was from the start but donated anyway.
Brown proved that it is Kennedy’s seat after all.
Wrong on #1.
I know this is a common talking point that Fannie and Freddie “caused” the metldown, but this is a fallacy.
Fannie and Freddie have non-current mortgage rates that are 1/3rd of the total industry.
Other than the 2006 and 2007 vintages, Fannie and Freddie have very good credit quality paper.
HIS reaction is the one I despise: “I don’t like it but I’ll support it.” Like Bush saying he was abandoning free market principles to save the free market.
IF IT’S WRONG, VOTE AGAINST IT. What the hell is so hard about that concept?
Good letter - send it. Maybe more than once.
Colonel, USAFR
Excellent!
I’d FAX it to his home and dc offices — 617/723-7325 and 202/228-2646.
I donated money to him, too, so I’m going to hit your points and do the same.
My assumption with regards to #1 is that banks would have made fewer better loans if they were not able to unload them on Fannie Mae and Freddie Mac, who then collateralized the loans and sold them to investors around the world. Again, is this part in doubt? Thanks!
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