United Liberty

During this evening’s Senate vote, Senator Dianne Feinstein (D-CA) took the podium to explain her position on the proposed bailout package. In her statement, she explains that she received 91,000 calls and emails, with 85,000 of them opposed to the measure. Even armed with the knowledge that 93% of her constituents passionate enough to contact her office pleaded for her to vote “nay”, she votes in favor of the bill, claiming that “there is a great deal of confusion out there” and these people “don’t understand” the situation.

See the video below:

Below is the entirety of my correspondence from Senator Dianne Feinstein. I know she wrote this letter and gave this speech prior to the vote this morning. So now Dianne, with all you know about our opposition, and the congress shooting the bill down, where do you stand?

Now is your chance to turn things around and oppose the bailout.

Dear Mr. Avila:

Thank you for your letter expressing concern about Congress’ consideration of a plan to meet our Nation’s credit crisis with financial help from the Federal Government. This is a difficult situation for which there are no perfect solutions, and I would like to share my thoughts and concerns about this issue with you.

On September 19, 2008, Secretary of the Treasury Henry M. Paulson, Jr. announced a legislative proposal to use $700 billion to purchase illiquid mortgage-related assets from ailing financial institutions. Secretary Paulson’s three-page proposal was a non-starter, and without critical changes it has no chance of approval from Congress.

This proposal would have given a blank check to an economic czar who would have been empowered to spend it without administrative oversight, legal requirements, or legislative review. Decisions made by the Treasury Secretary would be non-reviewable by any court, agency, or Congress. The proposal also lacked a requirement for regular reports to Congress on the status of the program. This was simply untenable.