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Ben Gleib



Last Updated: 11/17/2009

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Wednesday, October 01, 2008 

Category: News and Politics

This entry is not comedic.  It is an actual letter I sent today to Senator Obama.  If you agree with the message, please help me pass it around. 

(There is a URL for the document at the bottom, if you go there you can get an embed code to post it anywhere.)

Comments are, as always, welcome.

Senator Obama,

I have placed my faith in you to lead our great nation out of the crisis we are in.  And to do so by standing firm to the principles you have campaigned on, and the ideals you say you believe in so strongly.

Your plan, as you have hundreds of times stated, is based on the idea that America must be revitalized from the bottom up, not the top down.  As we stand teetering on the precipice of financial meltdown, we of course must come to the aid of Wall Street, and save our financial institutions.  But not without using this rare leverage to finally stand up for the middle class!  The innocent, hard working people who will not otherwise be helped in our time of need, as the rich and greedy, (and in some cases corrupt,) are immediately bailed out using our money!  (That certainly won't make our mortgages any easier to meet.)

HOW CAN WE ALLOW THE BIGGEST INFUSION OF GOVERNMENT INFLUENCE IN THE HISTORY OF THE AMERICAN ECONOMY TO PASS, WITHOUT INSISTING, WITHOUT DEMANDING, THAT THREE IMPORTANT GUIDELINES BE INCLUDED IN THE FINAL PLAN?

1) A moratorium on foreclosures.  We can't justify protecting poorly run banks, while not showing similar concern for millions of Americans losing their homes.

2) Legislation to allow unfair or unreasonable mortgage rates to be re-negotiated, or assisted by the government, so well intentioned people can stay in their homes, and banks can still get paid back.  If we can spring into action creating out of thin air nearly a TRILLLION DOLLARS, a bailout of never-before-seen size and magnitude, then we can also pull out of thin air legislation to help homeowners in a never-before-seen way.  (Especially since Secretary Paulson doesn't even claim the 700 billion number to be scientific!  He says he just needed something huge!  So then, for argument sake, why can't  we make it 350 billion for the banks, and use the other 350 billion to directly help from the other end?  Because if people defaulting on bad mortgages are a big part of what caused this, why can't we use some of the money to make sure they don't default? This would give the same liquidity to the banks that they would receive if the government gave them all the money directly, but it would also help the homeowners, therefore infusing our economy on both ends with the same funds!)   For if we are going to stand up for those in need, and fix this country from the bottom up, then let us truly make a stand, and actually give some help to those on the bottom.

3) A true, common sense cap on CEO pay for those assisted by any bailout.  Not just preventing golden parachutes, but their actual salaries too!  If they have run their companies into the ground, it follows NO LOGIC to allow them to continue to be paid multiple millions a year!  During such a tumultuous time that they directly helped cause, why on earth can't they live on a cap of $500,000 a year???  While our nation is at risk of ANOTHER GREAT DEPRESSION!     OF COURSE THEY CAN, AND NO ONE CAN MAKE AN ARGUMENT OTHERWISE!  So it should be an easy sell.  If we'll be forced to make cuts where it hurts, obviously we should also make cuts where it doesn't hurt.  
That's just common sense.  Because I wasn't there for the first Great  depression, but I assure you that standing in soup lines ain't that great.  And neither is jumping out of windows.

Please Senator Obama realize that at this rare and frightening moment, you can lead us. You are certainly better suited than your opponent, who admits he doesn't understand the economy that well, lets the headlines dictate his positions on it, and then pulls grand stunts that he doesn't even follow through on!  (As a side note, hypocrisy your campaign must make more clear.)  You Senator, with  HALF OF THE ENTIRE NATION BELIEVING IN YOU, have the influence to truly help us avert this nightmare.  Leading us to pass a responsible package like this would immediately get America headed back on the right track, while taking care of the common man, bringing common sense back to Washington, and responsibility to Wall Street.  All things we desperately need, and things you say you intend to do.

And it would do so while proving your leadership IN ACTION, silencing the critics who claim you are all talk, and leading to landslide victory for you in November.  (And a landslide is important, as I fear anything else could lead to another President we aren't sure we really elected.)

I know in my heart that you believe what you say.  That's why I believe you will help us in our urgent time of need. We desperately need your leadership right now.

You are the most inspirational leader I have seen in my lifetime.
Please inspire us to make this right!

Sincerely,

Ben Gleib
Concerned Citizen

September 29, 2008

http://www.docstoc.com/docs/1659733/Senator-Obama-Please-Lead-Us-Now

Michelle

 
if there really is a "crisis" (which i don't believe), and even though you're making some credible points, there's more that should be considered and added for the new plan that will probably pass. a new plan such as the brad de long/stiglitz plan a la the scandinavian plan. will it work? i don't know, but it is recommended by notable economists and is just the antidote for shock doctrine treatment this country is getting. here are some links to read: http://www. nytimes. com/2008/09/23/business/worldbusiness/23krona. html?_r=1&oref=slogin; http://www. thenation. com/doc/20081013/stiglitz

but i can't help but think, why are people still buying into the crap idea that a bailout is necessary, even a modified one? the stock market is not the problem...the credit markets are the problem and the bailout bill does nothing to clear up the financial freeze. the reason the financial markets are not running smoothly is that there are insolvent banks out there so no banks want to do business for fear of getting stuck with these banks bad debt. the bill just throws money at the problem without addressing the problem of these insolvent banks.


it's terrible; a bailout that will be followed by another and another because it doesn't address the fact that insolvent banks must be taken out of the system.


now we wait and give them time to bury the bodies and cover up the paper trail.
oh where are you direct democracy when we need you?
 
Posted by Michelle on Tuesday, September 30, 2008 - 11:52 PM
[Reply to this
Ben Gleib

 
Your bush seems very well informed. I hear you, I don't argue that a sloppy hasty bailout is the best idea we can come up with. My letter only addresses what seems like is going to pass later this week, some sort of enormous bailout, so under that presupposition, I at least wanted to make sure that some common sense enforceable protection for the middle class is put in so that it just desn't infuse so much money to the institutions themselves, who will then relax again, have freshly padded pockets, and fall right back into greedy, predatory, uncouth practices. However, the bailout does not focus on the stock market as a whole, benefits there would be largely psychological. Whatever bailout passes would help the credit markets ease up the freeze. But generally speaking I agree with you. I don't see why letting some instutions fail, paying for their mistakes, and teaching Wall St. a much needed lesson would be so bad. Of course it would lead to some job losses and have some ripple effects, but so would the untold effects of printing nearly a trillion dollars, burdening every taxpayer in the nation perhaps for generations to come, and causing our already over-inflated dollar to soar so much further into inflation that the peso will start to look like a bar of gold.
What's truly scary is our leaders don't seem to have any better idea than we do.
 
Posted by Ben Gleib on Wednesday, October 01, 2008 - 12:09 AM
[Reply to this
Ben Gleib

 
Well, one leader does seem to have a better idea. He is the always intelligent and outspoken Ron Paul. Watch the video below (found at jasonnazar. com)

 
Posted by Ben Gleib on Wednesday, October 01, 2008 - 2:05 AM
[Reply to this
Ian

 
Well said.

 
Posted by Ian on Wednesday, October 01, 2008 - 11:00 PM
[Reply to this