Rep. Brad Sherman On Bailing Out Foreign Investors

Inquiring minds are considering Bailout Bill: Pros & Cons.



Click Here To Play Video

Following is a partial transcript

Rep. Brad Sherman, D California:

Larry I am glad you have a few seconds to talk to someone who voted against this bill. I am not changing my mind. I want to thank my colleagues who stood up to the purveyors of panic and voted against a very bad bill and voted with 400 eminent economists including three Nobel laureates who wrote to us and said don't panic, don't act hastily, hold hearings, work carefully. The fact is Larry if you read this bill, even you would have voted against it.

It provides hundreds of billions of dollars of bailouts to foreign investors. It provides no real control of Paulson's power. There is a critique board but not really a board that can step in and change what he does. It's a $700 billion program run by a part-time temporary employee and there is no limit on million dollar a month salaries.

Larry Kudlow:

Let me just ask you one question. I think you are referring to foreign banks headquartered in the United States. I do not see how foreign investors get bailed out.

Rep. Brad Sherman:

Larry you have to read the bill. It's very clear. The Bank of Shanghai can transfer all of its toxic assets to the Bank of Shanghai of Los Angeles which can then sell them the next day to the Treasury. I had a provision to say if it wasn't owned by an American entity even a subsidiary, but at least an entity in the US, the Treasury can't buy it. It was rejected.

The bill is very clear. Assets now held in China and London can be sold to US entities on Monday and then sold to the Treasury on Tuesday. Paulson has made it clear he will recommend a veto of any bill that contained a clear provision that said if Americans did not own the asset on September 20th that it can't be sold to the Treasury.

Hundreds of billions of dollars are going to bail out foreign investors. They know it, they demanded it and the bill has been carefully written to make sure that can happen.

Resolution Draft

Inquiring minds are verifying the above in the Bailout Bill Resolution Draft. Here is the language under discussion.

3 SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES
4 AND CENTRAL BANKS.
5 The Secretary shall coordinate, as appropriate, with
6 foreign financial authorities and central banks to work to
7 ward the establishment of similar programs by such au
8 thorities and central banks. To the extent that such for
9 eign financial authorities or banks hold troubled assets as
10 a result of extending financing to financial institutions
11 that have failed or defaulted on such financing, such trou
12 bled assets qualify for purchase under section 101.

7 SEC. 101. PURCHASES OF TROUBLED ASSETS.
8 (a) OFFICES; AUTHORITY.�
9 (1) AUTHORITY.�The Secretary is authorized
10 to establish a troubled asset relief program (or
11 ��TARP��) to purchase, and to make and fund com
12 mitments to purchase, troubled assets from any fi
13 nancial institution, on such terms and conditions as
14 are determined by the Secretary, and in accordance
15 with this Act and the policies and procedures devel
16 oped and published by the Secretary.

SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES
4 AND CENTRAL BANKS.
5 The Secretary shall coordinate, as appropriate, with
6 foreign financial authorities and central banks to work to
7ward the establishment of similar programs by such au
8thorities and central banks. To the extent that such for
9eign financial authorities or banks hold troubled assets as
10 a result of extending financing to financial institutions
11 that have failed or defaulted on such financing, such trou
12bled assets qualify for purchase under section 101.

Please get this to EVERY senator before the Senate takes a vote.

Suggested Fax Text

Fax Title: Rep. Brad Sherman On Bailing Out Foreign Investors

Dear senator

Today I listened to Representative Brad Sherman on how the Paulson proposal will purposely bail out foreign investors.

Here is the shocking text as translated from CNBC in an exchange with Larry Kudlow.

Rep. Brad Sherman, D California:

Larry I am glad you have a few seconds to talk to someone who voted against this bill. I am not changing my mind. I want to thank my colleagues who stood up to the purveyors of panic and voted against a very bad bill and voted with 400 eminent economists including three Nobel laureates who wrote to us and said don't panic, don't act hastily, hold hearings, work carefully. The fact is Larry if you read this bill, even you would have voted against it.

It provides hundreds of billions of dollars of bailouts to foreign investors. It provides no real control of Paulson's power. There is a critique board but not really a board that can step in and change what he does. It's a $700 billion program run by a part-time temporary employee and there is no limit on million dollar a month salaries.

Larry Kudlow:

Let me just ask you one question. I think you are referring to foreign banks headquartered in the United States. I do not see how foreign investors get bailed out.

Rep. Brad Sherman:

Larry you have to read the bill. It's very clear. The Bank of Shanghai can transfer all of its toxic assets to the Bank of Shanghai of Los Angeles which can then sell them the next day to the Treasury. I had a provision to say if it wasn't owned by an American entity even a subsidiary, but at least an entity in the US, the Treasury can't buy it. It was rejected.

The bill is very clear. Assets now held in China and London can be sold to US entities on Monday and then sold to the Treasury on Tuesday.

Paulson has made it clear he will recommend a veto of any bill that contained a clear provision that said if Americans did not own the asset on September 20th that it can't be sold to the Treasury.

Hundreds of billions of dollars are going to bail out foreign investors. They know it, they demanded it and the bill has been carefully written to make sure that can happen.

Senator, please scrap the Paulson proposal in entirety and try something that might work, that is constitutional, and does not put taxpayer money at risk.

US citizens should not spending $700 Billion to bail out foreign investors. The actions of Treasury Secretary Paulson go far beyond disgusting, to outright betrayal of US citizens.

I ask that you take a clear stand against this un-American bill by not only voting against it, but to Filibuster the bill until it is given up for dead. I cannot and will not vote for any legislator who votes for this bill, or even allows it to be brought up for vote.

Senator, the United States of America is depending on you to block this bill for the good of the country.

Your Name
Your Phone Number
Your Email Address

Take Action Now

The Senate phone and fax list can be found in How To Stop A Run On The Banks.

Fax List For All Congress

You can get a list of fax numbers for all congressional representatives in MetroFax Compatible Fax List For All Congress.

Thanks.
Your help is appreciated.
I am going to fax that to each senator twice, once with the image and once without.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Congressional Most Endangered List

The San Francisco Chronicle is reporting Many vulnerable lawmakers said 'no' to bailout.

Two-thirds of Congress' most vulnerable members � Republicans and Democrats alike � chose to protect their seats on Election Day rather than follow their party leaders and vote for an unpopular economic bailout plan.

Their votes helped doom the plan President Bush, congressional leaders and top economic officials said was critical.

"We're all worried about losing our jobs," Rep. Paul Ryan, R-Wis., said, endorsing the bill and voting for it after leading a rebellion against an earlier version last week. "Most of us say, 'I want this thing to pass, but I want you to vote for it, not me,'" he said, speaking for colleagues who have tougher re-election fights than his own.

The three vulnerable Republicans who voted "yes" were Reps. Christopher Shays of Connecticut, Mark Kirk of Illinois and Jon Porter of Nevada.

The three vulnerable Democrats voting "yes" were Tim Mahoney of Florida, Paul E. Kanjorski of Pennsylvania and Jerry McNerney of California.

Metrofax Most Vulnerable Target List

Note: The fax list is to every office of targeted reps. Please fax every office.

Congress,Paul Ryan,Congress,2022253393,2022253393
Congress,Paul Ryan,Congress,6087524711,6087524711
Congress,Paul Ryan,Congress,2626542156,2626542156
Congress,Paul Ryan,Congress,2626375689,2626375689
Congress,Christopher Shays,Congress,2022259629,2022259629
Congress,Christopher Shays,Congress,2035790771,2035790771
Congress,Christopher Shays,Congress,2022259629,2033571050
Congress,Mark S. Kirk,Congress,2022250837,2022250837
Congress,Mark S. Kirk,Congress,8479407143,8479407143
Congress,John C. Porter,Congress,2022252185,2022252185
Congress,John C. Porter,Congress,7024341378,7024341378
Congress,Timothy Mahoney,Congress,2022253132,2022253132
Congress,Timothy Mahoney,Congress,9416279101,9416279101
Congress,Timothy Mahoney,Congress,7728710651 ,7728710651
Congress,Paul E. Kanjorski,Congress,2022250764,2022250764
Congress,Paul E. Kanjorski,Congress,5708258685,5708258685
Congress,Paul E. Kanjorski,Congress,5704966439,5704966439
Congress,Gerald McNerney,Congress,2022260861,2022260861
Congress,Gerald McNerney,Congress,9257370734,9257370734
Congress,Gerald McNerney,Congress,2094768587,2094768587

Phone Numbers

Please phone every office.

Paul Ryan, Phone: (202) 225-3031 Fax: (202) 225-3393
Janesville, WI Phone: (608) 752-4050 Fax: (608) 752-4711
Kenosha, WI Phone: (262) 654-1901 Fax: (262) 654-2156
Racine, WI Phone: (262) 637-0510 Fax: (262) 637-5689

Christopher Shays, Phone: 202-225-5541 Fax:202-225-9629
Bridgeport Phone: 203-579-5870 Fax: 203-579-0771
Stamford Phone: 203-357-8277 Fax: 203-357-1050
Norwalk Phone: 203-866-6469 No Fax
Ridgefield Phone: 203-438-5953 No Fax
Shelton Phone 203-402-0426 No Fax

Mark S. Kirk, Phone: 202-225-4835 Fax: 202-225-0837
Northbrook, IL Phone: 847-940-0202 Fax: 847-940-7143

John C. Porter,Phone: 202-225-3252 Fax: 202-225-2185
Henderson Office Phone: 702-387-4941 Fax: 702-434-1378

Timothy Mahoney, Phone: (202) 225-5792 Fax: (202) 225-3132
Port Charlotte, Phone: (941) 627-9100 Fax: (941) 627-9101
Stuart, FL Phone: (772) 878-3181 Fax: (772) 871-0651

Paul E. Kanjorski, ph: 202-225-6511 fx: 202-225-0764
Wilkes-Barre, PA ph: 570-825-2200 fx: 570-825-8685
Scranton, PA ph: 570-496-1011 fx: 570-496-6439

Gerald McNerney, (202) 225-1947 Fax: (202) 225-4060
Pleasanton, CA (925) phone: 737-0727 Fax: (925) 737-0734
Stockton, CA 95207 phone: (209) 476-8552 Fax: (209) 476-8587

Fax Title: Scrap The Paulson Plan, Instead Try This

Today the Irish government announced a surprise decision to safeguard the Irish banking system for two years, guaranteeing all deposits, covered bonds, senior debt and dated subordinated debt of the four main banks.

The Result

Investors welcomed the news. By 0755 GMT, Allied Irish Banks PLC (AIB) rose 14%, Anglo Irish Bank PLC (ANGL.DB) rose 22%, Bank of Ireland PLC (IRE) rose6.7% , and Irish Life & Permanent PLC (IPM.DB) rose 22%.

Why Ireland's Plan Works

What Ireland is fighting is the same thing that the Fed is trying to fight here (outflows from banks and money market funds into short term government debt.)

The problem is NOT mom and pop pulling bank deposits, it is corporate treasurers and state treasurers whose jobs are on the line pulling deposits from weak banks and putting them into stronger ones.

The fastest way for the US and other governments to solve this is to raise deposit insurance ceilings. This is a far better option than ballooning the Fed's balance sheet more.

Furthermore, I would highlight that fully guaranteed deposits would put the US government even more at the top of the capital structure of banks. Existing senior debt is all of a sudden now fully subordinated to a potentially unlimited amount of insured deposit debt.

Why the Paulson Plan Fails

The Paulson plan fails because it does not stop mistrust between banks or mistrust by depositors. All it does is throw $700 billion in taxpayer money down a black hole.

The Paulson plan is also unconstitutional. There is no constitutional authority for the US Government or the Federal Reserve to use public (taxpayer) money for what is definitely a private purpose (bailing out Wall Street).

Finally, the Paulson plan takes time to implement fairly, and there are many holes in the oversight process.

How To Stop The Run On Banks

Temporarily guarantee all deposits at US Banks. Implement rules to ensure weak banks do not misuse this privilege by adopting risky lending practices. Conduct an orderly shut down all undercapitalized banks.

Modified Paulson Proposal Is A Disgrace

The modified Paulson bill is so full of holes and toothless provisions it is a disgrace to suggest it is close to being ready for a vote. Most importantly, the bill will not create a single job, nor will it solve the underlying economic problems. Over 190 major economists agree.

Fox Oversees Henhouse

The bill sets up an oversight board, which is directed to �ensure that the policies implemented� by Mr. Paulson are proper. Mr. Paulson is to be one of the five members of the board watching over his own actions. He is joined by the chairman of the Federal Reserve, the chairman of the Securities and Exchange Commission, the Housing Secretary and the director of the Federal Home Finance Agency.

The oversight committee is a complete joke.

New Proposal Cedes Congressional Authority To The Administration

Paulson, or whoever the next Treasury Secretary is, can buy whatever he wants, at whatever price he wants. Why should Congress give such authority to anyone at any time?

If you vote for this Bailout Bill I will vote against you.

I will do more than that, I will work actively for your opponent, no matter who that person is, doing everything in my power to contribute to your defeat.

If you vote for this bill I will contribute my time, energy and money to your opponent, whoever that may be.

I will talk to my friends, my family and my co-workers and urge them to do the same. I have already contacted many friends and have asked them to do the same.

Please scrap the Paulson proposal in entirety and try something that might work, that is constitutional, and does not put taxpayer money at risk. I have submitted such an alternative to consider. The Paulson proposal must be scrapped in entirety.

Your Name
Your Email Address

If you live in their district, please add your address and phone number.

Thanks
Our goal is to not lose a single rep, but to gain some that are on the edge.
Your help is appreciated.

Also see How To Stop A Run On The Banks

Make sure you contact every senator as well, details are in the above link.
Thanks

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

How To Stop A Run On The Banks

The global banking system has frozen up. There is no trust between banks and there is no trust by depositors of banks. This has caused a run on the banks, and has led to the failure of Washington Mutual and Wachovia. Internationally, several large banks have failed.

Bloomberg is reporting Libor Rises Most on Record After U.S. Congress Rejects Bailout.

The cost of borrowing in dollars overnight rose the most on record after the U.S. Congress rejected a $700 billion bank-rescue plan, putting an unprecedented squeeze on the global financial system.

The London interbank offered rate, or Libor, that banks charge each other for such loans climbed 431 basis points to an all-time high of 6.88 percent today, the British Bankers' Association said. The euro interbank offered rate, or Euribor, for one-month loans jumped to a record 5.05 percent, the European Banking Federation said. The Libor-OIS spread, a gauge of the scarcity of cash, also increased to an all-time high.

"This is unheard of, the money markets should be the engine driving the financial system but they have broken down," said Kornelius Purps, a fixed-income strategist in Munich for UniCredit Markets and Investment Banking, a unit of Italy's largest lender. "Any institution that hasn't completed its 2008 funding needs by now is going to be in very serious trouble. More banks are going to need to be bailed out."

The seizure in the credit markets is tipping lenders toward insolvency, forcing U.S. and European governments to rescue five banks in the past two days, including Dexia SA, the world's biggest provider of loans to local governments, and Wachovia Corp. Money-market rates climbed even after the Federal Reserve yesterday more than doubled the size of its dollar-swap line with foreign central banks to $620 billion. In Europe, banks borrowed dollars from the ECB at almost six times the Fed's benchmark interest rate today.

Why the Paulson Plan Fails

The Paulson plan fails because it does not stop mistrust between banks or mistrust by depositors. All it does is throw $700 billion in taxpayer money down a black hole.

The Paulson plan is also unconstitutional. There is no constitutional authority for the US Government or the Federal Reserve to use public (taxpayer) money for what is definitely a private purpose (bailing out Wall Street).

Finally, the Paulson plan takes time to implement fairly, and there are many holes in the oversight process.

Irish Government Moves To Safeguard Banking System

FXStreet is reporting Irish Government Moves To Safeguard Banking System.

The Irish government Tuesday announced a surprise decision to safeguard the Irish banking system for two years, guaranteeing all deposits, covered bonds, senior debt and dated subordinated debt of the four main banks.

"It has done so following advice from the governor of the central bank and the financial regulator about the impact of the recent international market turmoil on the Irish banking system," the government said in a statement.

The government said it aims "to safeguard the Irish financial system and to remedy a serious disturbance in the economy caused by the recent turmoil in the international financial markets."

Finance Minister Brian Lenihan said Tuesday that the guarantee will mean a commercial charge for Irish banks, but this would be decided by the Central Bank of Ireland; he gave no more details on the charge.

He said that the decision to guarantee the banking system for two years was primarily aimed at addressing liquidity concerns, protecting taxpayers funds and crucially ensuring banking funds don't dry up.

Investors welcomed the news. By 0755 GMT, Allied Irish Banks PLC (AIB) was up 14% at EUR5.70, Anglo Irish Bank PLC (ANGL.DB) was up 22% at EUR2.81, Bank of Ireland PLC (IRE) was up 6.7% at EUR3.49, and Irish Life & Permanent PLC (IPM.DB) was up 22% at EUR4.35.

The guarantee runs from midnight on Sept. 29, 2008, and expires at midnight on Sept. 28, 2010, and follows the decision last week by the government to guarantee deposits in Irish banks up to EUR100,000.

The government said it aims "to remove any uncertainty" and "maintain financial stability for the benefit of depositors and businesses and is in the best interests of the Irish economy."

Davy Research analyst Scott Rankin said: "The Irish government has taken out its bazooka."

This is urgent we must get this to EVERY senator before the Senate takes a vote.

Fax Title: How To Stop A Run On The Banks

Dear senator

Today the Irish government announced a surprise decision to safeguard the Irish banking system for two years, guaranteeing all deposits, covered bonds, senior debt and dated subordinated debt of the four main banks.

The Result

Investors welcomed the news. By 0755 GMT, Allied Irish Banks PLC (AIB) rose 14%, Anglo Irish Bank PLC (ANGL.DB) rose 22%, Bank of Ireland PLC (IRE) rose6.7% , and Irish Life & Permanent PLC (IPM.DB) rose 22%.

Why Ireland's Plan Works

What Ireland is fighting is the same thing that the Fed is trying to fight here (outflows from banks and money market funds into short term government debt.)

The problem is NOT mom and pop pulling bank deposits, it is corporate treasurers and state treasurers whose jobs are on the line pulling deposits from weak banks and putting them into stronger ones.

The fastest way for the US and other governments to solve this is to raise deposit insurance ceilings. This is a far better option than ballooning the Fed's balance sheet more.

Furthermore, I would highlight that fully guaranteed deposits would put the US government even more at the top of the capital structure of banks. Existing senior debt is all of a sudden now fully subordinated to a potentially unlimited amount of insured deposit debt.

Why the Paulson Plan Fails

The Paulson plan fails because it does not stop mistrust between banks or mistrust by depositors. All it does is throw $700 billion in taxpayer money down a black hole.

The Paulson plan is also unconstitutional. There is no constitutional authority for the US Government or the Federal Reserve to use public (taxpayer) money for what is definitely a private purpose (bailing out Wall Street).

Finally, the Paulson plan takes time to implement fairly, and there are many holes in the oversight process.

Stop The Run On Banks

Temporarily guarantee all deposits at US Banks. Implement rules to ensure weak banks do not misuse this privilege by adopting risky lending practices. Orderly shut down all undercapitalized banks.

Senator, please scrap the Paulson proposal in entirety and try something that might work, that is constitutional, and does not put taxpayer money at risk.

Your Name
Your Phone Number
Your Email Address

Note: I am in principle opposed to FDIC insurance.
It IS A Moral Hazard.
However, I Fear the Paulson Proposal Far More
We CAN readdress FDIC later down the road.
There will be time later to take care of this.
We Must Provide Congress A Better Alternative NOW.
This is it.

Keep phoning and faxing until you Fill Every Congressional Voice Mail Box In The Country.

If you do not have internet faxing get it.

I went with MetroFax. 1000 pages at a very cheap price.
If you are reading this most likely you can afford $12.
Sign up today and fax to your heart's content.

Contact The House

Congressional Phone And Fax Numbers

Click Here For Congressional Phone And Fax Numbers

Please fax AND phone your congressional representative, Nancy Pelosi, and Barney Frank.

House Phone Numbers

Rep. Nancy Pelosi (D)(202) 225-4965
Rep. Barney Frank (D)(202) 225-5931

Please Call Every Senator with this simple message "I Applaud The Courageous Vote In The House to Block The Paulson Proposal. I expect you to do the same. It is time to look at other alternatives."

Senate Phone Numbers
Akaka, Daniel K.- (D - HI) Class I (202) 224-6361
Alexander, Lamar- (R - TN) Class II (202) 224-4944
Allard, Wayne- (R - CO) Class II (202) 224-5941
Barrasso, John- (R - WY)Class I (202) 224-6441
Baucus, Max- (D - MT) Class II (202) 224-2651
Bayh, Evan- (D - IN) Class III (202) 224-5623
Bennett, Robert F.- (R - UT) Class III (202) 224-5444
Biden, Joseph R., Jr.- (D - DE) Class II (202) 224-5042
Bingaman, Jeff- (D - NM) Class I (202) 224-5521
Bond, Christopher S.- (R - MO) Class III (202) 224-5721
Boxer, Barbara- (D - CA) Class III (202) 224-3553
Brown, Sherrod- (D - OH) Class I (202) 224-2315
Brownback, Sam- (R - KS) Class III (202) 224-6521
Bunning, Jim- (R - KY) Class III (202) 224-4343
Burr, Richard- (R - NC) Class III (202) 224-3154
Byrd, Robert C.- (D - WV) Class I (202) 224-3954
Cantwell, Maria- (D - WA) Class I (202) 224-3441
Cardin, Benjamin L.- (D - MD) Class I (202) 224-4524
Carper, Thomas R.- (D - DE) Class I (202) 224-2441
Casey, Robert P., Jr.- (D - PA) Class I (202) 224-6324
Chambliss, Saxby- (R - GA) Class II (202) 224-3521
Clinton, Hillary Rodham- (D - NY) Class I (202) 224-4451
Coburn, Tom- (R - OK) Class III (202) 224-5754
Cochran, Thad- (R - MS) Class II (202) 224-5054
Coleman, Norm- (R - MN) Class II (202) 224-5641
Collins, Susan M.- (R - ME) Class II (202) 224-2523
Conrad, Kent- (D - ND) Class I (202) 224-2043
Corker, Bob- (R - TN) Class I (202) 224-3344
Cornyn, John- (R - TX) Class II (202) 224-2934
Craig, Larry E.- (R - ID) Class II (202) 224-2752
Crapo, Mike- (R - ID) Class III (202) 224-6142
DeMint, Jim- (R - SC) Class III (202) 224-6121
Dodd, Christopher J.- (D - CT) Class III (202) 224-2823
Dole, Elizabeth- (R - NC) Class II (202) 224-6342
Domenici, Pete V.- (R - NM) Class II (202) 224-6621
Dorgan, Byron L.- (D - ND) Class III (202) 224-2551
Durbin, Richard- (D - IL) Class II (202) 224-2152
Ensign, John- (R - NV) Class I (202) 224-6244
Enzi, Michael B.- (R - WY) Class II (202) 224-3424
Feingold, Russell D.- (D - WI) Class III (202) 224-5323
Feinstein, Dianne- (D - CA) Class I (202) 224-3841
Graham, Lindsey- (R - SC) Class II(202) 224-5972
Grassley, Chuck- (R - IA) Class III (202) 224-3744
Gregg, Judd- (R - NH) Class III (202) 224-3324
Hagel, Chuck- (R - NE) Class II (202) 224-4224
Harkin, Tom- (D - IA) Class II (202) 224-3254
Hatch, Orrin G.- (R - UT)Class I (202) 224-5251
Hutchison, Kay Bailey- (R - TX) Class I (202) 224-5922
Inhofe, James M.- (R - OK) Class II(202) 224-4721
Inouye, Daniel K.- (D - HI) Class III (202) 224-3934
Isakson, Johnny- (R - GA)Class III (202) 224-3643
Johnson, Tim- (D - SD) Class II(202) 224-5842
Kennedy, Edward M.- (D - MA) Class I(202) 224-4543
Kerry, John F.- (D - MA) Class II(202) 224-2742
Klobuchar, Amy- (D - MN) Class I (202) 224-3244
Kohl, Herb- (D - WI) Class I (202) 224-5653
Kyl, Jon- (R - AZ) Class I (202) 224-4521
Landrieu, Mary L.- (D - LA) Class II (202) 224-5824
Lautenberg, Frank R.- (D - NJ) Class II (202) 224-3224
Leahy, Patrick J.- (D - VT) Class III (202) 224-4242
Levin, Carl- (D - MI) Class II (202) 224-6221
Lieberman, Joseph I.- (ID - CT) Class I (202) 224-4041
Lincoln, Blanche L.- (D - AR) Class III (202) 224-4843
Lugar, Richard G.- (R - IN) Class I (202) 224-4814
Martinez, Mel- (R - FL) Class III (202) 224-3041
McCain, John- (R - AZ) Class III (202) 224-2235
McCaskill, Claire- (D - MO) Class I (202) 224-6154
McConnell, Mitch- (R - KY) Class II (202) 224-2541
Menendez, Robert- (D - NJ) Class I (202) 224-4744
Mikulski, Barbara A.- (D - MD) Class III (202) 224-4654
Murkowski, Lisa- (R - AK) Class III (202) 224-6665
Murray, Patty- (D - WA) Class III (202) 224-2621
Nelson, Bill- (D - FL) Class I (202) 224-5274
Nelson, E. Benjamin- (D - NE) Class I (202) 224-6551
Obama, Barack- (D - IL) Class III (202) 224-2854
Pryor, Mark L.- (D - AR) Class II (202) 224-2353
Reed, Jack- (D - RI) Class II (202) 224-4642
Reid, Harry- (D - NV) Class III (202) 224-3542
Roberts, Pat- (R - KS) Class II (202) 224-4774
Rockefeller, John D., IV- (D - WV) Class II (202) 224-6472
Salazar, Ken- (D - CO) Class III (202) 224-5852
Sanders, Bernard- (I - VT) Class I (202) 224-5141
Schumer, Charles E.- (D - NY) Class III (202) 224-6542
Sessions, Jeff- (R - AL) Class II (202) 224-4124
Shelby, Richard C.- (R - AL) Class III (202) 224-5744
Smith, Gordon H.- (R - OR) Class II (202) 224-3753
Snowe, Olympia J.- (R - ME) Class I (202) 224-5344
Specter, Arlen- (R - PA) Class III (202) 224-4254
Stabenow, Debbie- (D - MI) Class I (202) 224-4822
Stevens, Ted- (R - AK) Class II (202) 224-3004
Sununu, John E.- (R - NH) Class II (202) 224-2841
Tester, Jon- (D - MT) Class I (202) 224-2644
Thune, John- (R - SD) Class III (202) 224-2321
Vitter, David- (R - LA) Class III (202) 224-4623
Voinovich, George V.- (R - OH) Class III (202) 224-3353
Warner, John- (R - VA) Class II (202) 224-2023
Webb, Jim- (D - VA) Class I (202) 224-4024
Whitehouse, Sheldon- (D - RI) Class I (202) 224-2921
Wicker, Roger F.- (R - MS) Class I (202) 224-6253
Wyden, Ron- (D - OR) Class III (202) 224-5244

Call every Senator with this simple message "I Applaud The Courageous Vote In The House to Block The Paulson Proposal. I expect you to do the same. It is time to look at other alternatives."

Senate Fax List

Targeted Senate Fax List.

Sen. Richard Shelby (R) 202-224-3416 or 202-224-5137 (try both not sure which is correct)
Sen. Harry Reid (D) 202-224-7327
Sen. Jim DeMint (R) 202-228-5143
Sen. John Ensign (R) 202-228-2193
Sen. Jim Bunning (R) 202-228-1373
Sen. Chuck Grassley (R) 202-224-6020
Sen John McCain (R) 202-228-2862

Sen. Barack Obama 202-228-4260
Sen. John D. Rockefeller 202-224-7665
Sen. Dianne Feinstein 202-228-3954
Sen. Ron Wyden 202-228-2717
Sen. Evan Bayh 202-228-1377
Sen. Barbara Mikulski 202-224-8858
Sen. Bill Nelson 202-228-2183
Sen. John Kerry 202-224-8525
Sen. Daniel Inouye 202-224-6747
Sen. Hillary Clinton 202-228-0282

Complete Senate Fax List

US Senate List

Note: the Fax number appears twice. Look above for phone numbers.

This list is MetroFax Compatible

To Use In MetroFax

1) Clip it
2) Open up notepad or Excel
3) Save it as a .CSV file
4) Upload it to metrofax

First Name,Last Name,Company,Voice Number,Fax Number

Congress,B. Evan Bayh (S),Congress,2022281377,2022281377
Congress,Barack Obama (S),Congress,2022285417,2022285417
Congress,Barbara Boxer (S),Congress,2022240454,2022240454
Congress,Barbara Mikulski (S),Congress,2022248858,2022248858
Congress,Ben Nelson (S),Congress,2022280012,2022280012
Congress,Bill Nelson (S),Congress,2022282183,2022282183
Congress,Blanche Lincoln (S),Congress,2022281371,2022281371
Congress,Byron Dorgan (S),Congress,2022241193,2022241193
Congress,Carl Levin (S),Congress,2022241388,2022241388
Congress,Charles Grassley (S),Congress,2022246020,2022246020
Congress,Charles Schumer (S),Congress,2022283027,2022283027
Congress,Christopher Dodd (S),Congress,2022241083,2022241083
Congress,Chuck Hagel (S),Congress,2022245213,2022245213
Congress,Daniel Inouye (S),Congress,2022246747,2022246747
Congress,Daniel Akaka (S),Congress,2022242126,2022242126
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514

Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514
Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471

Fax List For All Congress

You can get a list of fax numbers for all congressional representatives in MetroFax Compatible Fax List For All Congress.

Fax Now!
Call Now!

In addition to the new campaign, please follow up by thanking or chastising your House Representative as explained in The Bailout Failed: What's Next?

Thanks.
Your help is appreciated.
We did it once, we can do it again!

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Courageous Vote In The House

Note: How To Stop A Run On The Banks supersedes the following campaign.
Please read and act on the above link.

We need to target the Senate. It is likely the next action shifts there. However, everyone still needs to follow up by thanking or chastising their House Representative as explained in The Bailout Failed: What's Next?

One new idea for this campaign is that the bill is unconstitutional as explained by the We The People Foundation.

I want everyone to contact every senator.

Fax Title: Courageous Vote In The House

Dear senator

Today the US House of Representatives cast a courageous vote against the Paulson bailout proposal.

In spite of the stock market gyrations, we encourage you to do the same.

Bill Is Unconstitutional

The Paulson Proposal is ill-advised, the wrong approach, will not create any jobs.

Furthermore, there is no constitutional authority for the US Government or the Federal Reserve to use public (taxpayer) money for what is definitely a private purpose (bailing out Wall Street).

Fox Oversees Henhouse

The bill sets up an oversight board, which is directed to �ensure that the policies implemented� by Mr. Paulson are proper. Mr. Paulson is to be one of the five members of the board watching over his own actions. He is joined by the chairman of the Federal Reserve, the chairman of the Securities and Exchange Commission, the Housing Secretary and the director of the Federal Home Finance Agency.

The proposed toothless oversight board does anything but waste more taxpayer money.

New Proposal Cedes Congressional Authority To The Administration

Paulson, or whoever the next Treasury Secretary is, can buy whatever he wants, at whatever price he wants. Why should Congress give such authority to anyone at any time?

Note that the next Treasury Secretary is not even a known quantity!

Ceding blank check power to the administration and requiring super majorities to override would set a dangerous precedent.

I am appalled that the administration would ask for such power and I am even more appalled that Congress would be willing to structure a bill this way.

No Insurance

Likewise, ceding power to the treasury on how to best implement the insurance provision is also a terrible idea. Congress, not the Treasury should stipulate how insurance should work. Leaving insurance to the discretion of the Treasury is tantamount to agreeing there should not be insurance.

Broad New Powers For The SEC

A provision of the bill gives the S.E.C. permission to suspend the rule for any individual company if it thinks that is in the public�s interest. It is absurd that the SEC should be allowed to wave whatever rules it wants.

We got into trouble in the first place because of poor accounting principles!

No Help For Homeowners

This bill offers no help for homeowners. All it offers is a provision to "encourage" servicers of the underlying mortgages to take advantage of the Hope for Homeowners Program. Exactly what use is that?

Administrative Costs

Administrative costs are hidden.

Recoupment mechanism

The recoupment mechanism does nothing except to require the President submit a proposal to offset such costs after five years. There is nothing of merit in the bill that remotely protects the taxpayer, and no constitutional grounds for a taxpayer sponsored bailout in the first place.

Bill Is A Disgrace

This bill is so full of holes and toothless provisions it is a disgrace.

Bill Creates No Jobs

Most importantly, the bill will not create a single job, nor will it solve the underlying economic problems. Over 190 major economists agree.

If you vote for this Bailout Bill I will vote against you.

I will do more than that, I will work actively for your opponent, no matter who that person is, doing everything in my power to contribute to your defeat.

If you vote for this bill I will contribute my time, energy and money to your opponent, whoever that may be.

Senator, It is time to push the Paulson proposal aside and start all over.

Keep phoning and faxing until you Fill Every Congressional Voice Mail Box In The Country.

If you do not have internet faxing get it.

I went with MetroFax. 1000 pages at a very cheap price.
If you are reading this most likely you can afford $12.
Sign up today and fax to your heart's content.

Contact The House

Congressional Phone And Fax Numbers

Click Here For Congressional Phone And Fax Numbers

Please fax AND phone your congressional representative, Nancy Pelosi, and Barney Frank.

House Phone Numbers

Rep. Nancy Pelosi (D)(202) 225-4965
Rep. Barney Frank (D)(202) 225-5931

Please Call Every Senator with this simple message "I Applaud The Courageous Vote In The House to Block The Paulson Proposal. I expect you to do the same. It is time to look at other alternatives."

Senate Phone Numbers
Akaka, Daniel K.- (D - HI) Class I (202) 224-6361
Alexander, Lamar- (R - TN) Class II (202) 224-4944
Allard, Wayne- (R - CO) Class II (202) 224-5941
Barrasso, John- (R - WY)Class I (202) 224-6441
Baucus, Max- (D - MT) Class II (202) 224-2651
Bayh, Evan- (D - IN) Class III (202) 224-5623
Bennett, Robert F.- (R - UT) Class III (202) 224-5444
Biden, Joseph R., Jr.- (D - DE) Class II (202) 224-5042
Bingaman, Jeff- (D - NM) Class I (202) 224-5521
Bond, Christopher S.- (R - MO) Class III (202) 224-5721
Boxer, Barbara- (D - CA) Class III (202) 224-3553
Brown, Sherrod- (D - OH) Class I (202) 224-2315
Brownback, Sam- (R - KS) Class III (202) 224-6521
Bunning, Jim- (R - KY) Class III (202) 224-4343
Burr, Richard- (R - NC) Class III (202) 224-3154
Byrd, Robert C.- (D - WV) Class I (202) 224-3954
Cantwell, Maria- (D - WA) Class I (202) 224-3441
Cardin, Benjamin L.- (D - MD) Class I (202) 224-4524
Carper, Thomas R.- (D - DE) Class I (202) 224-2441
Casey, Robert P., Jr.- (D - PA) Class I (202) 224-6324
Chambliss, Saxby- (R - GA) Class II (202) 224-3521
Clinton, Hillary Rodham- (D - NY) Class I (202) 224-4451
Coburn, Tom- (R - OK) Class III (202) 224-5754
Cochran, Thad- (R - MS) Class II (202) 224-5054
Coleman, Norm- (R - MN) Class II (202) 224-5641
Collins, Susan M.- (R - ME) Class II (202) 224-2523
Conrad, Kent- (D - ND) Class I (202) 224-2043
Corker, Bob- (R - TN) Class I (202) 224-3344
Cornyn, John- (R - TX) Class II (202) 224-2934
Craig, Larry E.- (R - ID) Class II (202) 224-2752
Crapo, Mike- (R - ID) Class III (202) 224-6142
DeMint, Jim- (R - SC) Class III (202) 224-6121
Dodd, Christopher J.- (D - CT) Class III (202) 224-2823
Dole, Elizabeth- (R - NC) Class II (202) 224-6342
Domenici, Pete V.- (R - NM) Class II (202) 224-6621
Dorgan, Byron L.- (D - ND) Class III (202) 224-2551
Durbin, Richard- (D - IL) Class II (202) 224-2152
Ensign, John- (R - NV) Class I (202) 224-6244
Enzi, Michael B.- (R - WY) Class II (202) 224-3424
Feingold, Russell D.- (D - WI) Class III (202) 224-5323
Feinstein, Dianne- (D - CA) Class I (202) 224-3841
Graham, Lindsey- (R - SC) Class II(202) 224-5972
Grassley, Chuck- (R - IA) Class III (202) 224-3744
Gregg, Judd- (R - NH) Class III (202) 224-3324
Hagel, Chuck- (R - NE) Class II (202) 224-4224
Harkin, Tom- (D - IA) Class II (202) 224-3254
Hatch, Orrin G.- (R - UT)Class I (202) 224-5251
Hutchison, Kay Bailey- (R - TX) Class I (202) 224-5922
Inhofe, James M.- (R - OK) Class II(202) 224-4721
Inouye, Daniel K.- (D - HI) Class III (202) 224-3934
Isakson, Johnny- (R - GA)Class III (202) 224-3643
Johnson, Tim- (D - SD) Class II(202) 224-5842
Kennedy, Edward M.- (D - MA) Class I(202) 224-4543
Kerry, John F.- (D - MA) Class II(202) 224-2742
Klobuchar, Amy- (D - MN) Class I (202) 224-3244
Kohl, Herb- (D - WI) Class I (202) 224-5653
Kyl, Jon- (R - AZ) Class I (202) 224-4521
Landrieu, Mary L.- (D - LA) Class II (202) 224-5824
Lautenberg, Frank R.- (D - NJ) Class II (202) 224-3224
Leahy, Patrick J.- (D - VT) Class III (202) 224-4242
Levin, Carl- (D - MI) Class II (202) 224-6221
Lieberman, Joseph I.- (ID - CT) Class I (202) 224-4041
Lincoln, Blanche L.- (D - AR) Class III (202) 224-4843
Lugar, Richard G.- (R - IN) Class I (202) 224-4814
Martinez, Mel- (R - FL) Class III (202) 224-3041
McCain, John- (R - AZ) Class III (202) 224-2235
McCaskill, Claire- (D - MO) Class I (202) 224-6154
McConnell, Mitch- (R - KY) Class II (202) 224-2541
Menendez, Robert- (D - NJ) Class I (202) 224-4744
Mikulski, Barbara A.- (D - MD) Class III (202) 224-4654
Murkowski, Lisa- (R - AK) Class III (202) 224-6665
Murray, Patty- (D - WA) Class III (202) 224-2621
Nelson, Bill- (D - FL) Class I (202) 224-5274
Nelson, E. Benjamin- (D - NE) Class I (202) 224-6551
Obama, Barack- (D - IL) Class III (202) 224-2854
Pryor, Mark L.- (D - AR) Class II (202) 224-2353
Reed, Jack- (D - RI) Class II (202) 224-4642
Reid, Harry- (D - NV) Class III (202) 224-3542
Roberts, Pat- (R - KS) Class II (202) 224-4774
Rockefeller, John D., IV- (D - WV) Class II (202) 224-6472
Salazar, Ken- (D - CO) Class III (202) 224-5852
Sanders, Bernard- (I - VT) Class I (202) 224-5141
Schumer, Charles E.- (D - NY) Class III (202) 224-6542
Sessions, Jeff- (R - AL) Class II (202) 224-4124
Shelby, Richard C.- (R - AL) Class III (202) 224-5744
Smith, Gordon H.- (R - OR) Class II (202) 224-3753
Snowe, Olympia J.- (R - ME) Class I (202) 224-5344
Specter, Arlen- (R - PA) Class III (202) 224-4254
Stabenow, Debbie- (D - MI) Class I (202) 224-4822
Stevens, Ted- (R - AK) Class II (202) 224-3004
Sununu, John E.- (R - NH) Class II (202) 224-2841
Tester, Jon- (D - MT) Class I (202) 224-2644
Thune, John- (R - SD) Class III (202) 224-2321
Vitter, David- (R - LA) Class III (202) 224-4623
Voinovich, George V.- (R - OH) Class III (202) 224-3353
Warner, John- (R - VA) Class II (202) 224-2023
Webb, Jim- (D - VA) Class I (202) 224-4024
Whitehouse, Sheldon- (D - RI) Class I (202) 224-2921
Wicker, Roger F.- (R - MS) Class I (202) 224-6253
Wyden, Ron- (D - OR) Class III (202) 224-5244

Call every Senator with this simple message "I Applaud The Courageous Vote In The House to Block The Paulson Proposal. I expect you to do the same. It is time to look at other alternatives."

Senate Fax List

Targeted Senate Fax List.

Sen. Richard Shelby (R) 202-224-3416 or 202-224-5137 (try both not sure which is correct)
Sen. Harry Reid (D) 202-224-7327
Sen. Jim DeMint (R) 202-228-5143
Sen. John Ensign (R) 202-228-2193
Sen. Jim Bunning (R) 202-228-1373
Sen. Chuck Grassley (R) 202-224-6020
Sen John McCain (R) 202-228-2862

Sen. Barack Obama 202-228-4260
Sen. John D. Rockefeller 202-224-7665
Sen. Dianne Feinstein 202-228-3954
Sen. Ron Wyden 202-228-2717
Sen. Evan Bayh 202-228-1377
Sen. Barbara Mikulski 202-224-8858
Sen. Bill Nelson 202-228-2183
Sen. John Kerry 202-224-8525
Sen. Daniel Inouye 202-224-6747
Sen. Hillary Clinton 202-228-0282

Complete Senate Fax List

US Senate List

Note: the Fax number appears twice. Look above for phone numbers.

This list is MetroFax Compatible

To Use In MetroFax

1) Clip it
2) Open up notepad or Excel
3) Save it as a .CSV file
4) Upload it to metrofax

First Name,Last Name,Company,Voice Number,Fax Number

Congress,B. Evan Bayh (S),Congress,2022281377,2022281377
Congress,Barack Obama (S),Congress,2022285417,2022285417
Congress,Barbara Boxer (S),Congress,2022240454,2022240454
Congress,Barbara Mikulski (S),Congress,2022248858,2022248858
Congress,Ben Nelson (S),Congress,2022280012,2022280012
Congress,Bill Nelson (S),Congress,2022282183,2022282183
Congress,Blanche Lincoln (S),Congress,2022281371,2022281371
Congress,Byron Dorgan (S),Congress,2022241193,2022241193
Congress,Carl Levin (S),Congress,2022241388,2022241388
Congress,Charles Grassley (S),Congress,2022246020,2022246020
Congress,Charles Schumer (S),Congress,2022283027,2022283027
Congress,Christopher Dodd (S),Congress,2022241083,2022241083
Congress,Chuck Hagel (S),Congress,2022245213,2022245213
Congress,Daniel Inouye (S),Congress,2022246747,2022246747
Congress,Daniel Akaka (S),Congress,2022242126,2022242126
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514

Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514
Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471

Fax List For All Congress

You can get a list of fax numbers for all congressional representatives in MetroFax Compatible Fax List For All Congress.

Fax Now!
Call Now!

In addition to the new campaign, please follow up by thanking or chastising your House Representative as explained in The Bailout Failed: What's Next?

Thanks.
Your help is appreciated.
We did it once, we can do it again!

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

How Voter Fury Stopped The Bailout

Inquiring minds are considering the Wall Street Journal article How Voter Fury Stopped Bailout

Left-Right Combo By Opponents Put Plan on the Ropes.

The defeat in Congress of a proposed $700 billion economic-rescue package followed an intense outpouring of voter anger, fanned by politicians, interest groups and media on the left and right, that overwhelmed calls from the president and top lawmakers to pass the deal.

Voters opposed to the deal deluged Capitol Hill with letters, emails, phone calls and faxes over the past week. Some 23,000 signatures were collected over two days by Sen. Bernie Sanders, a Vermont Independent, calling for a five-year, 10% surtax on the wealthiest Americans to help fund the bailout. Some prominent conservatives and bloggers criticized the deal as an unwarranted intervention in the free market.

On his Web site in recent days, Rep. Issa has posted letters and emails from some of the more than 2,000 constituents he said had contacted him about the proposal, including one from "Greg" in Temecula, Calif., who called the proposal "poorly thought out and rushed to the floor."

"I am 45 and a husband and father of 4. I am outraged and appalled at the arrogance of my President and the lack of regard for what is right," the message said.

Among prominent conservatives who publicly assailed the administration's proposal in recent days was former Republican House Speaker Newt Gingrich. But Mr. Gingrich said in a statement posted on his Web site Monday that he would "reluctantly and sadly" vote for the proposal if he were still in office.

"This bill is not the best proposal for solving the housing crisis. It is not even a good proposal for solving the crisis," the statement said. "However, it is the only proposal Secretary [Henry] Paulson would support, and his support was essential in this setting."

Mr. Gingrich then capped his tepid endorsement with a call for Mr. Paulson's resignation, saying that "having a former chairman of Goldman Sachs preside over disbursing hundreds of billions of dollars to Wall Street is a terrible concept and inevitably will lead to crony capitalism and the appearance of -- if not the actual existence of -- corruption."

The proposal's defeat was also cheered on by a number of blogs that in recent days have posted links to lawmakers' telephone and fax numbers and urged citizens to oppose the plan. They included stopthehousingbailout.com, a Web site organized by a 37-year-old Los Angeles attorney named Morgan Ward Doran, and globaleconomicanalysis.blogspot.com, run by Mike Shedlock, an investment adviser at SitkaPacific Capital Management. Mr. Shedlock said in an interview Monday that his site had received 1.7 million page hits this month, which he said was half a million more than normal.

On his Web site, Mr. Shedlock has derided the proposed rescue as "a rush to judgment" that would benefit "high-flying financiers who chased big profits through reckless investments," and as "a complete waste of $700 billion."

"A number of people emailed me to say this was the first time that they've written, faxed or phoned their member of Congress," said Mr. Shedlock, a 55-year-old resident of Prairie Grove, Ill. "Were going to phone and fax every member of Congress who voted against this to thank them. ... Everyone who voted to pass this bill, we're going to actively organize to oust them."

....

Keep Pressing

Current campaign Courageous Vote In The House

Please Click and ACT on the above link!

Keep Pressing.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

The Bailout Failed: What's Next?

Note: How To Stop A Run On The Banks supersedes the following campaign.
Please read and act on the above link.



We won the battle. Please remember this is a war.

Nancy Pelosi, Barney Frank, Treasury Secretary Paulson, Obama, and McCain all still want to pass this stupid bill.

If Your Legislative Representative Voted No...

Please phone and fax your congressional representative thanking them for their courageous vote. Let them know you are still counting on them to stand up for justice and are watching their vote.

If Your Legislative Representative Voted Yes...

Please phone and fax them one more time stating you will organize action in their district should they attempt to revive this bill in any other form.

Take the above action for 3 consecutive days. Make sure they know we appreciate [or disapprove] of what they have done.

How Everyone Voted

Click here for FINAL VOTE RESULTS FOR ROLL CALL 674

This was a tremendous victory for Democracy.
Do Not Drop Your Guard Until Congress Is In Recess.

I am on 3 hours sleep but I am committed to having another phone and fax campaign. The idea is to pick up votes for our position. I want the next vote to be even more lopsided.

I want to target every representative who voted for this idiocy. At the same time, we need to look ahead and kill this in the Senate as well. Rumor has it there are votes to pass this in the Senate. I do not believe it. Remember all my previous skepticism about prior announcements? Who was right?

The message now must be the Paulson Plan Failed, Start Over.

The Paulson Plan is too risky, too costly, and does not create any jobs. We must start over.

I do not have a specific fax on that. I will have one within a couple hours or less.

Also, please flood any polls you see. Make sure those polls are overwhelmingly against the bailout.

CNBC Bailout Poll - Please Vote

I had a poll up on CNN but they changed the wording.
They will probably keep revising the poll so vote accordingly.

Please vote on CNN and keep voting through the night.

I hope to have some more sample faxes later, but most of you probably have it by now.
Fax List For All Congress

You can get a list of fax numbers for all the senators and congressman in MetroFax Compatible Fax List For All Congress.

Fax Now!
Call Now!

If you do not have internet faxing get it.

I went with MetroFax. 1000 pages at a very cheap price.
If you are reading this most likely you can afford $12.
Sign up today and fax to your heart's content.

Contact The House

Please fax AND phone your congressional representative and Nancy Pelosi, Barney Frank, and Senator Dianne Feinstein.

Phone Numbers

Rep. Nancy Pelosi (D)(202) 225-4965
Rep. Barney Frank (D)(202) 225-5931
Sen. Dianne Feinstein (D) (202) 224-3841
Sen. Richard Shelby (R) (202) 224-5744
Sen. Harry Reid (D) 202-224-3542
Sen. Jim DeMint (R) 202-224-6121
Sen. John Ensign (R) (202) 224-6244
Sen. Jim Bunning (R) 202.224.4343
Sen. Chuck Grassley (R) (202) 224-3744
Sen. John McCain (R) 202-224-2235
Sen. Barack Obama (D) (202) 224-2854

Call them with this simple message "I have seen the revised bill, you will lose my vote if it passes".

Congressional Phone And Fax Numbers

Click Here For Congressional Phone And Fax Numbers

Please fax EVERY US Senator!

The message now must be the Paulson Plan Failed, Start Over.

The Paulson Plan is too risky, too costly, and does not create any jobs. We must start over.

US Senate List
Note: the Fax number appears twice. Look elsewhere for phone numbers.

First Name,Last Name,Company,Voice Number,Fax Number

Congress,B. Evan Bayh (S),Congress,2022281377,2022281377
Congress,Barack Obama (S),Congress,2022285417,2022285417
Congress,Barbara Boxer (S),Congress,2022240454,2022240454
Congress,Barbara Mikulski (S),Congress,2022248858,2022248858
Congress,Ben Nelson (S),Congress,2022280012,2022280012
Congress,Bill Nelson (S),Congress,2022282183,2022282183
Congress,Blanche Lincoln (S),Congress,2022281371,2022281371
Congress,Byron Dorgan (S),Congress,2022241193,2022241193
Congress,Carl Levin (S),Congress,2022241388,2022241388
Congress,Charles Grassley (S),Congress,2022246020,2022246020
Congress,Charles Schumer (S),Congress,2022283027,2022283027
Congress,Christopher Dodd (S),Congress,2022241083,2022241083
Congress,Chuck Hagel (S),Congress,2022245213,2022245213
Congress,Daniel Inouye (S),Congress,2022246747,2022246747
Congress,Daniel Akaka (S),Congress,2022242126,2022242126
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514

Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471
Congress,Debbie Stabenow (S), Congress,2022280325,2022280325
Congress,Dianne Feinstein (S),Congress,2022283954,2022283954
Congress,Edward Kennedy (S),Congress,2022242417,2022242417
Congress,Elizabeth Dole (S),Congress,2022241100,2022241100
Congress,Frank Lautenberg (S),Congress,2022284054,2022284054
Congress,GeorgeVoinovich (S),Congress,6144697733,6144697733
Congress,Gordon H. Smith (S),Congress,2022283997,2022283997
Congress,Harry Reid (S),Congress,2022247327,2022247327
Congress,Herbert Kohl (S),Congress,2022249787,2022249787
Congress,Hillary Clinton (S),Congress,2022280282,2022280282
Congress,James Inhofe (S),Congress,2022280380,2022280380
Congress,Jeff Bingaman (S),Congress,2022242852,2022242852
Congress,Jeff Sessions (S),Congress,2022243149,2022243149
Congress,Jim Bunning (S),Congress,2022281373,2022281373
Congress,Jim Demint(S),Congress,2022285143,2022285143
Congress,John Cornyn (S),Congress,2022282856,2022282856
Congress,John E. Sununu (S),Congress,2022284131,2022284131
Congress,John Ensign (S),Congress,2022282193,2022282193
Congress,John F. Reed (S),Congress,2022244680,2022244680
Congress,John Forbes Kerry (S),Congress,2022248525,2022248525
Congress,John McCain (S),Congress,2022282862,2022282862
Congress,John R. Thune(S),Congress,2022285429,2022285429
Congress,John Warner (S),Congress,2022246295,2022246295
Congress,Johnny Isakson (S),Congress,2022280724,2022280724
Congress,Jon Kyl (S),Congress,2022242207,2022242207
Congress,Joseph Biden (S),Congress,2022240139,2022240139
Congress,Joseph Lieberman (S),Congress,2022249750,2022249750
Congress,Judd Gregg (S),Congress,2022244952,2022244952
Congress,Kay Hutchison (S),Congress,2022240776,2022240776
Congress,Ken Salazar (S),Congress,2022285036,2022285036
Congress,Kent Conrad (S),Congress,2022247776,2022247776
Congress,Lamar Alexander(S),Congress,2022283398,2022283398
Congress,Larry E. Craig (S),Congress,2022281067,2022281067
Congress,Lisa Murkowski (S),Congress,2022245301,2022245301
Congress,Maria Cantwell (S),Congress,2022280514,2022280514
Congress,Mark Pryor (S),Congress,2022280908,2022280908
Congress,Mary Landrieu (S),Congress,2022249735,2022249735
Congress,Mel Martinez (S),Congress,2022885171,2022885171
Congress,Michael D. Crapo (S),Congress,2022281375,2022281375
Congress,Michael Enzi (S),Congress,2022280359,2022280359
Congress,Mitch McConnell(S),Congress,2022242499,2022242499
Congress,Norm Coleman (S),Congress,2022241152,2022241152
Congress,Olympia Snowe (S),Congress,2022241946,2022241946
Congress,Orrin Hatch (S),Congress,2022246331,2022246331
Congress,Pat Roberts (S),Congress,2022243514,2022243514
Congress,Patrick Leahy (S),Congress,2022243479,2022243479
Congress,Patty Murray (S),Congress,2022240238,2022240238
Congress,Pete Domenici (S),Congress,2022280900,2022280900
Congress,Richard Durbin (S),Congress,2022280400,2022280400
Congress,Richard Lugar (S),Congress,2022280360,2022280360
Congress,Richard Shelby (S),Congress,2022243416,2022243416
Congress,Robert Bennett (S),Congress,2022241168,2022241168
Congress,Robert Byrd (S),Congress,2022280002,2022280002
Congress,Ron Wyden (S),Congress,2022282717,2022282717
Congress,Russ Feingold (S),Congress,2022242725,2022242725
Congress,Sam Brownback (S),Congress,2022281265,2022281265
Congress,Saxby Chambliss (S),Congress,2022240103,2022240103
Congress,Susan M. Collins (S),Congress,2022242693,2022242693
Congress,Ted Stevens (S),Congress,2022242354,2022242354
Congress,Thomas R. Carper (S),Congress,2022282190,2022282190
Congress,Tim P. Johnson(S),Congress,2022285765,2022285765
Congress,Tom Harkin (S),Congress,2022249369,2022249369
Congress,Wayne Allard (S),Congress,2022246471,2022246471

Thanks
Your help is appreciated.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

CNBC Bailout Poll - Please Vote

Please go to the CNBC website and stop these clowns from trying to rally support for the bailout.

The question is: Do The "Nays" Have It Right on the Bailout?
Was the House correct when it voted to defeat the $700 billion rescue package?

Please vote YES.

Thank You
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

205 Yes - 228 No - We Won!!!!

I want to thank each and every one of you who took the time and energy to defeat this monstrosity. This was an enormous victory for Democracy.

205 Yes - 228 No - We Won!!!!

This is unprecedented.

The treasury secretary, the president, the speaker, and the chairman of the senate finance committee all supported the bill. This bill went down only because of a popular uprising.

Stand up and take a bow.

If Your Legislative Representative Voted No...

Please phone and fax your congressional representative thanking them for their courageous vote.

If Your Legislative Representative Voted Yes...

Please phone and fax them one more time stating you will organize action in their district should they attempt to revive this bill in any other form.

Take the above action for 3 consecutive days. Make sure they know we appreciate [or disapprove] of what they have done.

How Everyone Voted

Click here for FINAL VOTE RESULTS FOR ROLL CALL 674

This was a tremendous victory for Democracy.
Do Not Drop Your Guard Until Congress Is In Recess.
They will try and revive it.
Please keep faxing and phoning.

Thank You
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

Turn on Bloomberg Or CSPAN : Voting is On

Voting is on
Majority so far against!!

Mish

More Emergency Central Bank Coordinated Actions

The board of governors of the Fed has announced more coordinated actions. As usual, the Bank of Canada, the Bank Of England, the bank of Japan, the ECB, and the Swiss National Bank are in on the action.

The coordination has now expanded to include the National Bank of Denmark, the National Bank of Norway, the Bank of Sweden, and the Reserve Bank of Australia.

Federal Reserve Actions

The Federal Reserve announced today several initiatives to support financial stability and to maintain a stable flow of credit to the economy during this period of significant strain in global markets.

We will continue to adapt these liquidity facilities as necessary and will keep them in place as long as circumstances require.

Actions by the Federal Reserve include: (1) an increase in the size of the 84-day maturity Term Auction Facility (TAF) auctions to $75 billion per auction from $25 billion beginning with the October 6 auction, (2) two forward TAF auctions totaling $150 billion that will be conducted in November to provide term funding over year-end, and (3) an increase in swap authorization limits with the Bank of Canada, Bank of England, Bank of Japan, Danmarks Nationalbank (National Bank of Denmark), European Central Bank (ECB), Norges Bank (Bank of Norway), Reserve Bank of Australia, Sveriges Riksbank (Bank of Sweden), and Swiss National Bank to a total of $620 billion, from $290 billion previously.

These steps are being undertaken to mitigate pressures evident in the term funding markets both in the United States and abroad. By committing to provide a very large quantity of term funding, the Federal Reserve actions should reassure financial market participants that financing will be available against good collateral, lessening concerns about funding and rollover risk.

84-Day Maturity TAF Auctions
The increase to $75 billion per auction will triple the supply of 84-day maturity credit to $225 billion from $75 billion. TAF credit at the 28-day maturity will remain at $75 billion. The total amount of TAF credit available in the 28-day and 84-day auction cycles will double to $300 billion from $150 billion.

Forward TAF Auctions

The forward TAF auctions are a new program designed to provide reassurance to market participants that term funding will be available over year-end. The timing and terms of the two forward TAF auctions will be determined after consultations with depository institutions that utilize the TAF program.

It is anticipated that there will be two auctions in November totaling $150 billion. These auctions will provide short-term (one- to two-week term) TAF credit over year-end.

Foreign Exchange Swap Lines

The Federal Open Market Committee (FOMC) has authorized a $330 billion expansion of its temporary reciprocal currency arrangements (swap lines). This increased capacity will be available to provide funding for U.S. dollar liquidity operations by the other central banks. The FOMC has authorized increases in all of the temporary swap facilities with other central banks. These larger facilities will now support the provision of U.S. dollar liquidity in amounts of up to $30 billion by the Bank of Canada, $80 billion by the Bank of England, $120 billion by the Bank of Japan, $15 billion by Danmarks Nationalbank, $240 billion by the ECB, $15 billion by the Norges Bank, $30 billion by the Reserve Bank of Australia, $30 billion by the Sveriges Riksbank, and $60 billion by the Swiss National Bank. As a result of these actions, the total size of outstanding swap lines is $620 billion.

All of the temporary reciprocal swap facilities have been authorized through April 30, 2009.

Dollar funding rates abroad have been elevated relative to dollar funding rates available in the United States, reflecting a structural dollar funding shortfall outside of the United States. The increase in the amount of foreign exchange swap authorization limits will enable many central banks to increase the amount of dollar funding that they can provide in their home markets. This should help to improve the distribution of dollar liquidity around the globe.

Click the above link if you are interested in actions taken by other central bankers.

I do not know about you, but I am sure glad the "commercial banking system in the US remains well capitalized".

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Mike "Mish" Shedlock
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Sheila Bair "commercial banking system in the US remains well capitalized"

Today the FDIC announced Citigroup Inc. to Acquire Banking Operations of Wachovia.

Citigroup Inc. will acquire the banking operations of Wachovia Corporation; Charlotte, North Carolina, in a transaction facilitated by the Federal Deposit Insurance Corporation and concurred with by the Board of Governors of the Federal Reserve and the Secretary of the Treasury in consultation with the President. All depositors are fully protected and there is expected to be no cost to the Deposit Insurance Fund. Wachovia did not fail; rather, it is to be acquired by Citigroup Inc. on an open bank basis with assistance from the FDIC.

"For Wachovia customers, today's action will ensure seamless continuity of service from their bank and full protection for all of their deposits." said FDIC Chairman Sheila C. Bair. "There will be no interruption in services and bank customers should expect business as usual."

Citigroup Inc. will acquire the bulk of Wachovia's assets and liabilities, including five depository institutions and assume senior and subordinated debt of Wachovia Corp. Wachovia Corporation will continue to own AG Edwards and Evergreen. The FDIC has entered into a loss sharing arrangement on a pre-identified pool of loans. Under the agreement, Citigroup Inc. will absorb up to $42 billion of losses on a $312 billion pool of loans. The FDIC will absorb losses beyond that. Citigroup has granted the FDIC $12 billion in preferred stock and warrants to compensate the FDIC for bearing this risk.

In consultation with the President, the Secretary of the Treasury on the recommendation of the Federal Reserve and FDIC determined that open bank assistance was necessary to avoid serious adverse effects on economic conditions and financial stability.

"On the whole, the commercial banking system in the United States remains well capitalized. This morning's decision was made under extraordinary circumstances with significant consultation among the regulators and Treasury," Bair said. "This action was necessary to maintain confidence in the banking industry given current financial market conditions."

Commercial banking system remains well capitalized

That's great news Sheila. Given that the banking system is well capitalized, it should not need an infusion of $700 billion of taxpayer money.

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Mike "Mish" Shedlock
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