Dear Senator McCain,
I have often admired your leadership and service to this Country. I am completely and utterly against this $700 Billion bailout of Wall Street. I can assure you I will not vote for any candidate that supports this bailout. I am appalled by the speed at which the Congress and ultimately voters are being asked to approve this bailout plan.
I understand that the situation is very difficult, but encouraging Wall Street firms to sell their toxic waste bonds, credit swaps, derivatives and other crap to the Fed or the US Treasury is Obscene.
Just about any other solution is better. 700 Billion is a enormous number. Give that to the taxpayers, and let them catch up on their mortgages or debt or whatever. Let’s try a gigantic stimulus package BEFORE the taxpayers buy a bunch of garbage.
Or really do a Resolution Trust solution. Seize insolvent firms and then manage the orderly unwinding of these toxic derivatives.
Or better yet, let's limp along for a few months, doing an AIG rescue here / letting a Lehman fail there. Then your administration can calmly and rationally come up with a good plan.
DO NOT GIVE A GIANT BAILOUT TO WALL STREET FIRMS THAT CREATED THIS GIGANTIC MESS!
Please stand firm against this un-Republican and GIANT GOVERNMENT solution. This is a chance to forcefully and correctly distance yourself from the Bush administration. Being a Senator, you have the unique capability to stop this colossal bailout plan, by filibuster if necessary.
You hold what I think of as the Barry Goldwater seat in the Senate. He would have opposed this bailout, and I urge you to as well.