AZ8 - Giffords on the Bailout - email from her office (partial vanity)

Thank you for contacting me about the Emergency Economic Stabilization Act (H.R. 3997) that was voted on in the U.S. House of Representatives yesterday. I joined a bipartisan majority in the House of Representatives - and my seven House colleagues from Arizona - in opposing the Emergency Economic Stabilization Act. I voted against the bill because it failed to provide sufficient protections for American taxpayers.

Our nation is confronting serious instability in our financial markets that threatens the strength of the entire U.S. economy. Predatory lending, irresponsible trading and outrageous greed on Wall Street have gone on too long.

Years of deregulations and minimal oversight by the federal government encouraged this behavior. I support responsible federal action to ensure that we protect retirement accounts, student loans, mortgages and lines of credit for small business. This economic meltdown underscores why I oppose Social Security privatization, which would reduce the guaranteed Social Security retirement benefit and gamble people's money in the stock market instead.

I appreciate that I heard from thousands of constituents, like you about this situation. The Bush Administration's request that we trust it with an unrestricted and unfettered $700 billion for Wall Street was completely unacceptable. After days of bipartisan negotiations, a more responsible proposal emerged late Sunday night when the Emergency Economic Stabilization Act was released. But it was rushed to the House floor Monday morning and as the most expensive economic program in the history of the country, I believe Congress needs to take more time to fully consider the implications of such legislation.

I am concerned that this bill did not have adequate taxpayer protections to ensure a fair, long-term return on our investment. The bill also lacked strong enough restrictions on executive compensation.

Yesterday, I also voted against the House Concurrent Resolution (H.Con.Res.440) that would adjourn the House until at least mid-November because I think that Democrats and Republicans must keep working together this week. We must continue to work to develop smart solutions to both short and long-term problems in our financial markets and economy. I deeply value the input I have received from southern Arizonans like you and will continue to monitor this situation and keep you informed.

I appreciate that you are interested in issues of importance to Arizona and the nation. My job as your representative is to help you connect with federal agencies, access services and get your questions answered thoroughly. Please do not hesitate to contact me again in the future if you require assistance.

Good Lord, where to start?

She voted against the bailout, but:

1 - An article yesterday (sorry, can't find the link) said she was one of two AZ representatives who were prepared to switch their votes if doing so would mean passage - ie, she voted, not for principle, but out of fear. Pelosi gave her a pass.

2 - As expected, no mention of Congress's role (or her votes) helping to create this mess.

3 - She wants to bail out student loans, as well as mortgages?!

4 - No doubt she opposed any privatization of Social Security...

5 - One of her reasons for voting no was because it didn't stick it to executives enough? Either there is a crisis and this bill would help, or not. Executive salaries are not relevant.

Finally, she believes her job is to "help you connect with federal agencies, access services and get your questions answered thoroughly". Excuse me, but she isn't elected to be my advocate in getting government services.

All that said, I was disappointed in her opponent, Tim Bee (www.timbee.com). His positions seem to be pro-education spending, pro-government and weak on fiscal restraint. I cannot find any indication that he has taken a stand on the bail-out.

Darn! I have to get drunk and hold my nose to vote McCain, and I don't see where Bee is much better. Whatever happened to limited government?

From http://www.politickeraz.com/tags/az-8

Bee says he hasn’t seen bailout plans
By Evan Brown 27 Sep 2008
Category: House Tags: Tim Bee, AZ-8, financial crisis

State Sen. Pres. Tim Bee (R-Tucson), the Republican candidate in the 8th Congressional District race, said Friday it was important that executives not be rewarded at the failing and failed companies involved in the Wall Street meltdown, but has not yet looked at the proposed plans to deal with the financial crisis.

Bee told PolitickerAZ.com that both parties share blame for the current state of affairs, but accused Democrats of playing partisan politics with the resolution to the crisis.

“As of yesterday we’re having a lot of trouble getting information from the majority,” Bee said. “Clearly they weren’t including the minority in the conversation.”

Bee said he would take a look at proposals being offered in Congress later Friday. However, follow-up calls Friday evening were not returned.

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