This Friday Senate Bill 3217, also known as the Restoring American Financial Stability Act of 2010, introduced by Democrat Senator Chris Dodd of Connecticut, is scheduled to hit the floor of the US Senate where it must wait 72 hours before it comes up for a full vote. CLICK HERE to read the actual 1,421 page bill.
The vast majority of Tea Party Patriots' Local Coordinators from all over the country agreed that this is a bad bill and we oppose it.
In short, it grants permanent, unlimited bailout authority to the Federal Reserve. It's like TARP forever without the nasty, unpopular debates and votes in Congress. Beyond that it gives the Fed the power to takeover vaguely defined "nonbank financial companies." And the Fed has the power to decide what constitutes a "nonbank financial company" on a case by case basis.
Here are some links to a few articles that give a bit more insight into this very, very bad piece of legislation which must be stopped:
So, what am I asking you to do?
Four things:
1.) Please contact your own Senators first and voice your opposition to this bill. If possible, physically go in person to the local home offices of your two Senators and speak to someone there who will take note of your opinion and pass it on. If you're not able to go in person, please call, email, andfax the offices of both Senators from your state. (Find Your Senators by State on the Senate Website)
2.) Call, email, and fax these 8 Republican Senators who are not yet 100% opposed to this bill:
Bob Bennett of Utah (202) 224-5444
http://bennett.senate.gov/public/Susan Collins of Maine (202) 224-2523
http://collins.senate.gov/public/Christopher Bond of Missouri (202) 224-5721
http://bond.senate.gov/public/Saxby Chambliss of Georgia (202) 224-3521
http://chambliss.senate.gov/public/index.cfmBob Corker of Tennessee (202) 224-3344
http://corker.senate.gov/public/John McCain of Arizona (202) 224-2235
http://mccain.senate.gov/public/Olympia Snowe of Maine (202) 224-5344
http://snowe.senate.gov/public/Scott Brown of Massachusetts (202) 224-4543
http://scottbrown.senate.gov/public/
3.) Write Letters about this issue to your local paper for publication on or before Sunday. Also leave comments on as many news blogs and websitesrelated to this subject as you can find.
4.) Forward this message to as many people as you can and ask them to take these same 4 steps as soon as possible. Use the full power of your circle of influence to move others (at least 1 more person) to take action.
Once again it's up to us to defend America from out of control government.
Thank you for performing this valuable service for your country!
Thursday, April 22, 2010
action needed against the Dodd financial regulations bill
From our Tea Party coordinator:
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