No bailouts for fat cats and others

As a hardworking American taxpayer, I oppose government being turned into government for the fat cats. Our government should not be giving $700 billion to financial companies to bail them out from bad decisions, risky loans and the like.

Who got us into the financial mess? Corporations and banks making bad decisions. Those who made the bad decisions need to be sent a message by Congress and the president which is, "Sorry, you got yourselves into this mess, you find a way out."

Government is partly to blame for this as well. Laws such as the "Community Reinvestment Act," which injected race into the mortgage business, are partly to blame. Financial institutions loaned money to people who had no credit and could not afford to pay the loans back. Increasing homeownership is a good thing, but it should only be done for people who have a good credit history and can afford to buy a home. I waited nine years to buy my first home. People should have to wait that long and longer today until they prove they can afford a home.

I commute three hours round trip to and from work daily. I'm not rich. I do my job, earn my pay, pay my taxes, and stay out of debt. It is not my responsibility to pay for the bad decisions made by greedy corporate fat cats. I urge Congress to say "no" to any bail out plan for the financial industry, regardless of how much of a crisis President Bush, Treasury Secretary Paulson and others try forcing us to believe there is.

No bail outs. If some businesses go under, so be it. Other businesses will take their place. If credit standards are tightened, so be it. Maybe then people who can afford to buy a home will get one. Let's return our government to "Government of the people, by the people, for the people."

Ray Campbell

Glen Ellyn