Congressman Ellsworth Slaps Constituents In The Face
Let me preface this by saying that the the Congressmans office has been helpful to me personally in the past. There is no malice or partisanship in what I have to say but it needs saying.
Congressman you are suffering from what too many officeholders suffer from these days. The I know better than you syndrome.
During the debate recently you said that "despite" the many calls you had received in opposition to the federal bailout plan...( I know, I know it's not a bailout...call it what you want... ) you felt it was the right thing to vote for the bill/plan.
You were elected to represent your constituency, not to represent yourself and not to represent just the one or two that called in support of a bad bill. You said that a man had called you in tears because he had seen his 401K decline by 40 percent in one day.. I feel bad for him too, but the fact is that he had bad investments and it did not bear on the current market decline...there was no one day decline in the overall market of 40 percent... face the facts sir.
Yes bad things have happened but there has to be responsibility on every level...
Our legislators have forced the lending industry to relax standards so that people who could not have qualified for loans any other way to receive loans.
Lenders have not been completely forthcoming about how much balloon payments and exact terms of the loan would effect payments.
Last but not least, people who could not afford loans gladly accepted credit that they knew would be difficult if not impossible to repay. Many of these were illegal immigrants who obtained loans under fraudulent identities and knew they could just walk away when things became tough.
Responsibility was missing at all levels starting with Congress !!
Congressman you are suffering from what too many officeholders suffer from these days. The I know better than you syndrome.
During the debate recently you said that "despite" the many calls you had received in opposition to the federal bailout plan...( I know, I know it's not a bailout...call it what you want... ) you felt it was the right thing to vote for the bill/plan.
You were elected to represent your constituency, not to represent yourself and not to represent just the one or two that called in support of a bad bill. You said that a man had called you in tears because he had seen his 401K decline by 40 percent in one day.. I feel bad for him too, but the fact is that he had bad investments and it did not bear on the current market decline...there was no one day decline in the overall market of 40 percent... face the facts sir.
Yes bad things have happened but there has to be responsibility on every level...
Our legislators have forced the lending industry to relax standards so that people who could not have qualified for loans any other way to receive loans.
Lenders have not been completely forthcoming about how much balloon payments and exact terms of the loan would effect payments.
Last but not least, people who could not afford loans gladly accepted credit that they knew would be difficult if not impossible to repay. Many of these were illegal immigrants who obtained loans under fraudulent identities and knew they could just walk away when things became tough.
Responsibility was missing at all levels starting with Congress !!
posted by K.R.Baxter at 22:10
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