I’m not a big fan of the recent decisions to bail out financial giants by allowing the Fed to extend them credit at the expense of U.S. taxpayers.
Apparently, Senator Jim Bunning from Kentucky feels the same way. Friday, he introduced Senate resolution 3510 in order to prevent the Fed from continuing this practice in the future. (The full text is not yet available because the bill is so new, but it should be very soon.) I’ll be writing my two senators to encourage them to co-sponsor this bill. I think you should consider writing or calling your senators as well.
By the way, this bill is being sent to the Senate Committee on Banking, Housing, and Urban Affairs. If you’re registered in AL, CT, CO, DE, FL, KY, HI, ID, IN, MT, NC, NE, NJ, NY, OH, PA, RI, SD, TN, UT, or WY, then you have a senator in that committee.
Even if you disagree with me, I encourage you to check out your own representatives in both the House and the Senate. Find out what bills they’re sponsoring. Look at how they’re voting. Take advantage of your right as a citizen to influence the direction of your country in the way you believe is best!
UPDATE, 9/24/08:
The full text of the bill is now available right here.