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Angry Texans have been calling Congressman Conaway ever since his approval vote for the Emergency Economic Stabilization Act
Comments 0 | Recommend 0Angry West Texans have been calling Conaway's offices ever since the congressman's Oct. 3 approval vote for the Emergency Economic Stabilization Act. Conaway said 90 percent of those calls have been critical of his decision. The District 11 representative is up for re-election in November.
YOURâCOMMENTS:
>> oldodessan:
"This program allows one man - Henry Paulson - to decide who gets $700 billion of OUR money with no oversight, no provision for fraud, and to do what? To keep people in business who have already ruined their own businesses.
"There are estimates that at least $70 billion of this money will go to bonuses to executives as a reward for being effective enough to get their companies on federal welfare.
"I congratulated Mr. Conaway on his first vote, and I excoriate him for this one. All this will do is make the dollar worth less, fire up interest rates, and make inflation even worse than it is.
"Terrible decision, and once the money is given away, the taxpayers will have to pay it back, because every dime of it has to be borrowed. If you had tried to make the world's worst government program, it would look a lot like this."
>> mikelmassey:
"Anyone who has been in high ticket retail for awhile knows 2 things.
"(1)Easy financing for high risk buyers will create more sales, and (2)Easy financing for high risk buyers will create huge defaults within a couple of years.
"Our economy has grown dependant on easy financing and that is not a solid foundation that is sustainable. Our government representatives who supported the bail out should be replaced in November regardless of their party. Also, sending out economic stimulus checks with borrowed money is ludicrous.
"Personally I do not believe our government could run a snow cone stand without loosing money, They will never be able to run a large bank with record keeping that could stand the light of day."
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