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Sept. 30
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Resist Wall Street.
Stand up for Main Street!
A bad Wall Street bailout bill was defeated yesterday, but the battle continues – now! Wall Street is pressuring Congress to dress up the same bad bill and ram it through this week! Tell Congress NOW to resist Wall Street, stand up for Main Street, and tackle the financial crisis with a new "New Deal." GO
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History was made yesterday. The American people demanded an economic bailout strategy that helped Main Street as well as Wall Street. When congressional leaders came up short, fierce public pressure forced the House to vote "No." But, with the financial crisis deepening, saying "no" is not enough. It’s time to act.
Tremendous pressure is already mounting from the White House and Wall Street to exploit people's anxiety, dress up the same weak bill and ram it through this week! Congress needs to hear from you NOW, to resist this pressure and take a stand to rebuild Main Street and reign in Wall Street.
Tell Congress: Resist Wall Street. Stand up for Main Street. Deliver a new "New Deal."
The defeated bailout package promised more failed trickle-down logic -- bailout the financiers at the top and prosperity would trickle-down. To get the economy back on track, we need a new "New Deal" that rebuilds the economy from the bottom up.
- Invest In Main Street: On Main Street, jobs are disappearing, infrastructure is crumbling and local budgets are straining. A $200 billion economic rescue package for Main Street would generate clean American energy, extend unemployment benefits, aid states and localities to avoid debilitating cuts and modernize our crumbling infrastructure.
- Save The Homeowners: Defaulting mortgages are at the heart of the crisis. Keeping deserving people in their homes is critical to shore up Main Street and Wall Street. The bankruptcy courts need to have the power to renegotiate mortgages and reduce foreclosures.
- Hold Wall Street Accountable: Instead of simply propping up reckless firms, we should establish a Reconstruction Finance Corporation that can take over financial firms, sort out the solvent from the insolvent, close down some and merge others. We also need modern regulation that cracks down on the abuse. And taxpayers deserve preferred shares in any bank or investment house that we are forced to rescue.
This sort of new "New Deal" economic rescue plan puts Main St. first. It's what Congress should have done from the start. Tell Congress now: Resist Wall Street. Stand up for Main Street. Deliver a new "New Deal."
Make no mistake, the financial crisis is serious and severe. Big problems require bold solutions. And problems caused by conservative policies need progressive answers.
Conservatives are regrouping now. They'll try to put progressives on their heels, and pander to Wall Street with more deregulation and top end tax cuts -- the same conservative policies that derailed the economy and ravaged the markets in the first place.
You beat back Wall Street once, but their pressure will not let up. Congress needs to hear your voice again NOW to build on this stunning victory. Your voice already stopped a bad bill, now it can pass a good one.
Tell Congress: Resist Wall Street. Stand up for Main Street. Deliver a new "New Deal."
Sincerely,
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Robert L. Borosage, Co-Director
Campaign for America’s Future |
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Tell-a-friend!