One Congressman knows what he's talking about.

[Mr. Wyndham]

Take 8 minutes and watch this...please.

[zebra]

Now, if you can find a question in there, my hat's off to you.

[The_Blur]

We're up to 1!

[Angrybird 12]

I just got an e-mail from one of my senators I e-mailed

Dear Mr. T*****,



Thank you for taking the time to contact my office with your support for plans to bail out the major American automakers. Your input is important to me, and I appreciate the time you took to share your thoughts.


I fully understand and appreciate the contributions to the American economy that have been made by General Motors, Ford Motor Company, and Chrysler. As I am sure you are aware, these companies employ many Tennesseans and make up a sizeable and valuable portion of our state's manufacturing and retail sectors. From the plant in Spring Hill to suppliers and automotive dealerships across the state, the impact of a major corporate failure for these companies would be felt at multiple levels throughout Tennessee.


On November 18, 2008, I attended a hearing of the Senate Banking, Housing, and Urban Affairs Committee and heard testimony from the CEOs of the Big Three Auto Manufacturers and the President of the United Auto Workers Union. I was given the opportunity to discuss with them the specifics of their loan request and how that money would be used. Between this hearing and personal discussions with industry insiders, I came to the conclusion that this package would not be an appropriate response to the current problem. Many of my colleagues agreed with this assessment, so much so that the bailout bill did not even come before the full Senate for a vote.

We were, however, given the opportunity to vote on extending unemployment benefits, a measure I was happy to support. As a result of its passage, Tennesseans currently hit hard by economic difficulties will have the chance to receive further aid while they search for a new job.


On December 2, the Big Three are scheduled to submit a report to Congress detailing how the funds they may yet receive would be used. Following this report, we are scheduled to have more hearings in the Banking Committee on the topic, with a likely vote to follow the week of December 8. Once I have received this report, heard new testimony, and have had a further chance to evaluate the viability of these corporations, I will make a final decision on this issue based on the new information.


Moving forward, we in the Senate will continue to monitor our country's economic situation. I assure you, the difficulties being faced by Tennesseans during these times of economic uncertainty and hardship are of the utmost concern to me, and I and my staff will be using all the resources and options at our disposal to help in the months ahead.


Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate.


Sincerely,

Bob Corker
United States Senator

[stovt001]

Wow, that letter is something else:

"No, I did not find it necessary to extend help to keep millions of people in their jobs, but I am happy to provide unemployment benefits at taxpayer's expense for when they do lose their jobs."

I can think of no better explanation for the sad state we find ourselves in.

[Mr. Wyndham]

You should respond and say;

"It's not up to you to decide whether the package is approprate. You're juggling MY money, and YOU work for ME. Vote FOR it."

a$$hats...the lot of them.

[zebra]

that kind of stuff's why i didn't vote for bob corker

[Matrix]

Wow!! I watched this in full. I was rivetted to my screen!! Why isnt this guy the US Sec Treasurer or the like!!!

He makes some very true points but if you can spare the time, I URGE you to watch this video/Documentary on the monetary system. After watching it you will know why we are in a crisis!!

http://www.zeitgeistmovie.com/

[OUR72GTO]

Not only that...he said it without notes or a teleprompter. I wish they all could make as much sense in 8 minutes as this man can!!!!!!!!!!

[Angrybird 12]

Originally Posted by stovt001

Wow, that letter is something else:

"No, I did not find it necessary to extend help to keep millions of people in their jobs, but I am happy to provide unemployment benefits at taxpayer's expense for when they do lose their jobs."

I can think of no better explanation for the sad state we find ourselves in.

Yeah I agree, And I am going to reply as soon as I figure out just what to say.

I heard on the radio this morning that Paulsen has said they have now made it easier for people to get new loans... isn't that what got us into this mess in the first plase? making it too easy to get loans???

Has our government completely lost it's ever lovin mind?

I won't comment on what Obama said yesterday, because I don't want to start anything.

[Georgie]

he's good. everyone should take a listen to what he says as an additional perspective

[GTAHVIT]

Here's what I just recieved in reply to my communiction with my politicians.

Dear Chris:

Thank you for contacting me to express your opinion relating to a possible financial bailout of America’s automobile industry. As a former businessman and current elected representative of the hardworking taxpayers of my district I remain very cautious about using public funds to rescue any failing private sector enterprise. Most of the proposals mentioned to date including direct financial grants and subsidized loans would not have my support or vote.

While I understand that the current financial market and credit crisis have seriously harmed both business and financial prospects for our automakers, they have an even more significant operational problems. Until these American manufacturers develop competitive products, reform management practices and bring labor costs under control, no amount of federal underwriting will resolve their current and future challenges.

As the former Chairman of the U.S. House of Representatives Aviation Subcommittee during America’s aviation industries most difficult times I devised a rescue plan that might serve as a model. We provided no direct loans. Only loan guarantees for which recipients paid a fee. We also required strict review of viable business plans by an independent panel.

We placed the government and taxpayer in a primary position if any loan failed. While only two loans were rescheduled and a number denied, all loans were repaid. Furthermore, taxpayers received $345 million in fees and revenue from the loan guarantee program.

I know Congress can find creative and responsible means to get both America’s auto workers and many of our other ailing businesses back on track. Please know I will do everything possible and in a responsible manner to get our economy in a positive direction as soon as possible.

With my regards and best wishes, I remain

Sincerely,

John L. Mica
Member of Congress

[scotchsride09]

Wow, I came here to post the letter I got in response too:

"Thank you for contacting me with your thoughts regarding additional financial support for U.S. auto companies. I welcome the opportunity to respond to you on this matter.

As you already know, Congress recently passed legislation to provide auto companies based in the U.S. with emergency loans. H.R. 2638 (Price-NC), the Consolidated Security, Disaster Assistance and Continuing Appropriations Act for FY2009 (P.L. 110-329), provides auto companies with $25 billion for the purpose of advancing fuel-efficient vehicle technology.

The Department of Treasury recently rejected requests from the auto industry to participate in the newly created Troubled Assets Relief Program. Instead, the Bush Administration has directed the Department of Energy to expedite the $25 billion auto loan program included in H.R. 2638 as alternative industry assistance programs are further considered.

As a long-time supporter of the American auto industry, I recognize that our domestic vehicle manufacturers represent an integral part of our nation's manufacturing base. There is no question that these companies are an important part of our economy, providing hundreds of thousands of jobs to American workers while also sustaining many auto-suppliers and dealerships across the country. While I have concerns with providing unconditional financial assistance to companies, including troubled financial institutions, at the expense of taxpayers, it is important that Congress continues to closely examine the condition of our nation's auto industry and take appropriate steps to address its shortcomings.

Rest assured that as this matter is further discussed, I will keep your specific thoughts close in mind. Again, thank you for contacting me. If you should have any further questions or concerns, please do not hesitate to let me know.



Sincerely,

Duncan Hunter
Member of Congress"

[zebra]

just got this last night

Dear zebra,

Thank you for contacting me about a loan for domestic auto manufacturers. Hearing from you helps me better represent Middle Tennessee.

Like you, I know how important the auto industry is to our nation's economy. If the fortunes of these companies don't improve, it will be hardworking families and the national economy, not management, who suffer. One in 10 Americans have jobs related to the automotive industry.

The broader impact this kind of collapse could have would reverberate throughout the economy. Consumer spending would plummet, forcing all businesses to cut back on staff and distributors to scale back inventory. Hardworking Americans whose only interaction with the auto industry was an oil change every 3,000 miles will suddenly find themselves out of work because these companies were allowed to collapse.

In Tennessee unemployment is already at a 25-year high. There are over 800 automotive suppliers in our state. The smallest reductions in production impact these businesses. A major cutback would be catastrophic. I support keeping these manufacturers in business not only because it will save those jobs, but because it will allow the broader economy to continue on the road to recovery. A healthy economy means families will be discussing whether to take a better job or by a new home rather than just how to make ends meet.

Any taxpayer money invested must be a loan with interest to the automakers to be paid back, not a bailout. Any proposal must prohibit bonuses to executives who got rich making the decisions that led these companies down the wrong path, and must require that shareholders don't see a cent until taxpayers are repaid. This kind of plan worked in the 1970s when Chrysler was threatened with extinction. The government stepped in and Chrysler survived and thrived, ultimately allowing taxpayers to make a profit on their investment. We can follow that formula now and save the jobs that are threatened, and guarantee that the ones that aren't are never put in jeopardy.

Unfortunately, the President and members of the Senate are currently blocking efforts to aid the auto manufacturers. I am disappointed they are ignoring the needs of so many Americans while our economy continues to struggle. Know that I will continue to fight for these jobs and American industry.

As always, I appreciate your advice on this and other matters.

Sincerely,

BART GORDON
Member of Congress

nice to know we've still got leaders on our side