Letter to my senators and representative

I am writing you to voice my strong opposition to the $700 billion bailout proposed by the Bush administration. The beneficiaries of this plan are multiple, yet I am not among them. Nevertheless, it is my pocket that is being picked to pay for this.

Americans who bought more house than they could afford are now at risk of losing their houses. That is not my problem. While I was living in a house that was well within my means without the need to take out a subprime or liar loan, they were not sharing their home appreciation with me.

Other Americans used their houses as an ATM and undertook refinancing after refinancing to take out their equity. That is not my problem. While I was spending the last 5 years building equity in my house, they were not inviting me on vacation with them.

Investment bankers who in past years have made bonuses in the $2-$3 million range are in danger of losing their jobs. That is not my problem. While I was bringing home much more modest (or no) bonuses, they were not sharing their bounty with me.

Investors in FNM, FRE, AIG, LEH, ML, MS and GS who reaped huge profits in recent years are now at risk of losing their investments. That is not my problem. When I was investing my money in less profitable but less risky investments, they were not sharing their capital gains with me.

I keep hearing that without this bill, there could be a deep recession or even another Great Depression. Quite frankly, that sounds like scare tactics to me. But even if it were true, then too bad. That's how capitalism is supposed to work. Perhaps the next batch of homebuyers, investment bankers and stock investors will be more careful.

All of these folks enjoyed their private gains for a long time. Now this bill is attempting to socialize their losses. I cannot find words strong enough to match my revulsion to this bill. As Rep. Bunning recently said, this bill is socialist and un-American. If you make this my problem by spending $700 billion of my and my fellow taxpayers' money to bail out those who made bad (almost criminally so) decisions, I will further make it my problem to do everything in my power to get you out of office.

Thank you for your attention to this matter. I trust you will do the right thing.