Please join in this effort to Stop the Mortgage Lender Bailout! Enough is enough! Let's send a message to these politicians that our money is not theirs to give! (http://www.juntosociety.com/patriotism/inytg.html)

Send at least two spare keys each to President Bush and Senator Shelby before Congress resumes its consideration of the bailout bill on July 9th. You can find details at:

http://www.stopthehousingbailout.com/

92% of Americans either rent, own their homes outright, or are current on their mortgages. All 92% of us should be opposed to this legislation. It takes from the responsible who have paid off their loans, are currently paying off their loans, or are saving up to buy a house for the benefit of borrowers and lenders who made greedy, reckless, and irresponsible decisions. It is the very definition of moral hazard.

This legislation is nothing but corporate welfare designed to allow the banks to cherry pick their worst loans and transfer their losses to the American taxpayers. It WILL NOT stop the foreclosures or stabilize the markets. The ONLY thing that will stabilize the markets is allowing prices to fall to a point where people can AFFORD to buy homes for a reasonable portion of their incomes with down payments and fixed loans. All this bill does is privatize the profits and socialize the losses. If this bill is passed, it will slow down the recovery and worsen the losses. This bill is not in the best interests of the American people! Let's join together and stop this extortion by Congress!

NOW IS THE TIME TO ACT!!! President Bush had previously threatened to veto this bill, but now is saying he will likely sign it. Also, even if he does veto it, it has been reported that there are currently enough votes to override the veto. We need to send a clear message to these politicians that we oppose this bailout and will vote them out of office if they support it.

You can also help by sending the pre-written letter at the Stop the Housing Bailout site to your Congressmen and by signing the petition at http://www.angryrenter.com/.

P.S. For those of you interested in privacy issues, it has been reported that a plan to create a new fingerprint registry was added to the bill: http://news.cnet.com/8301-13578_3-9951420-38.html.

Also, the bill would require e-merchants and credit card companies to report transactions to the government: http://www.freedomworks.org/newsroom/press_template.php?press_id=2571