Dear Friends,
I am sick of all the Democrats’ government bailouts that haven’t
delivered on their big promises. I just learned about Democrat
Congressman Barney Frank’s new proposal today that includes both more
bloated bureaucracy and another new czar. It is called the Barney
Frank Bailout Bill and it smells exactly like all the other reckless
spending legislation Nancy Pelosi is pushing through Congress these
days.
You may not have heard about this bill yet. But the Democrats are
determined to pass it so I wanted to make sure you’re aware. As with
the government taking over our health care, this bill will take over
your personal finances. It is over 1200 pages long and creates a
permanent $200 billion bailout fund for financial lending institutions
which you will pay for in the form of fees handed down by your bank.
The czar created in this legislation will decide what credit products
you should be able to choose from. The legislation could increase
interest rates by 1.5% and will cost over 1 million jobs. Unless you
are a trial lawyer or a Washington bureaucrat there aren’t too many
upsides for consumers.
As always, please feel free to contact me on this issue or any others.
And please know that I am fighting hard against this expansion of government.
Sincerely,
Kay
