HELP STOP the Bailout of Irresponsible Wall Street Banks

Senator Dodd sponsoring--also heard his hand is in that same cookie jar.  We need to get busy and call congressmen.

Dear Nancy,

Just when it seemed that the proposed mortgage bailout couldn’t get any worse, it was revealed that one of the bailout’s primary architects, Senator Chris Dodd, received special “VIP” mortgage rates from Countrywide. As one of the leading sub-prime mortgage lenders, Countrywide stands to be one of the leading beneficiaries of the Dodd Mortgage Bailout if it passes the Senate. 

It was also revealed that Sen. Dodd was not the only Senator to receive such “VIP” treatment from Countrywide. Sen. Kent Conrad of North Dakota also received highly favorable loan rates from the lender. How many other Senators benefited from these “special” rates while average Americans struggled to pay their mortgages?

The Dodd Countrywide Mortgage Bailout is a $300 billion bill. Why should renters and homeowners who have either paid their mortgages or have been responsible in securing an affordable loan be on the hook to bail out banks and house flippers? The bill would also bail out the lending companies who issued the risky loans. It is simply unfair for Congress to punish the majority of the population for the bad decisions made by a minority of borrowers and lenders, including companies like Countrywide. 

Call your Senators toll free at 866-928-3035 today and ask them how they will be voting on the Dodd Countrywide Mortgage Bailout. Also, ask them if they received “VIP” mortgage rates from Countrywide. Tell them that it is unacceptable for Congress to pass bills for companies that give special deals to Congress.

Sincerely,

Bush will veto if passed in Senate--

http://news.yahoo.com/s/ap/20080620/ap_on_go_co/congress_housing

Two more votes to come up in senate before this goes to house--communication from Steve

		Independence Day Call to Action Dear Nancy, Independence Day is a great time to get together with friends and family to celebrate the birth of our nation and reflect on all the things that make it great.  It also is a perfect opportunity for citizens to speak directly with their elected officials about important issues facing the nation. As your Representatives and Senators prepare to return home for the Independence Day recess, I wanted to take the time to update you on the status of some important legislation being rushed through Congress.   Dodd-Countrywide Housing Bailout First of all, a big “thank you” goes out to everyone who has been fighting alongside us to stop the irresponsible bailout of the riskiest borrowers and their banks.  Thanks to your efforts, we have been able to shine a bright spotlight on some of the worst parts of the $300 billion Dodd/Frank Mortgage Bailout Bill. This includes the “VIP” loan scandal that revealed that Senators Chris Dodd and Kent Conrad had received special loan rates from Countrywide Financial, as well as Senator Charles Grassley’s provision that would require online retailers such as eBay and Amazon to report details of online transactions to the federal government.   Although we have been able to delay a final vote on the bill until after the July 4th congressional recess, there is still more work to be done.  On June 26, the Senate held a vote on a part of the bill, which passed by a vote of 79-16.  Even though we lost this vote, the silver lining is that the number of Senators who are joining us in opposition to the bailout continues to grow.  The following is a list of the heroes in the Senate who took a stand against the bailout:   Barrasso (R-WY)       Coburn (R-OK)    Inhofe (R-OK) Bond (R-MO)              Cornyn (R-TX)      Kyl (R-AZ) Brownback (R-KS)    Crapo (R-ID)        Thune (R-SD) Bunning (R-KY)         DeMint (R-SC)     Vitter (R-LA) Burr (R-NC)                Ensign (R-NV)     Chambliss (R-GA)    Enzi (R-WY)     If your Senator is on this list, contact him and thank him for showing leadership by opposing the bailout and encourage him to keep up the good work.  In addition to these Senators, President Bush has threatened to veto the bailout if it reaches his desk.       There are still two more votes scheduled for this bill in the Senate before it moves to the House of Representatives.  Please take the time to contact your Representatives and Senators to urge them to join their colleagues who have stood up to irresponsible government by voting NO on the Dodd/Frank Mortgage Bailout Bill.  The Capitol Switchboard number is 1-866-928-3035.