Today, I faxed the House Republicans who originally voted NO, urging them to stand their ground. Sadly, the Senate bill includes pathetic amounts of pork targeted specifically at those representatives…. I’ve also begun faxing the Blue Dog Coalition. Mish lined up the fax numbers in a nice easy format for my faxing program, but coincidentally I discovered the Blue Dogs yesterday before his post (how about them apples?)

I hope that Congress will put this awful Paulson bill behind them and focus on creating a better plan. By this time, there have been many alternatives created and there are many other models to follow. I’d like to get back to regular blogging about Jerry, my lack of discipline, … but until we have a reasonable way forward, I’ve got to stay diligent! More faxes going out tonight. A thank you note to the 228 house members who voted against the bill and more opposition to the 205 who didn’t, along with the Senate.

Here’s a great article that just reinforces the stupidity and immorality of the current bill. You can read the full text here.

The Treasury plan also does not explicitly include an HOLC-style program to reduce across the board the debt burden of the distressed household sector; without such a component the debt overhang of the household sector will continue to depress consumption spending and will exacerbate the current economic recession. Thus, the Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer.

STOP! THIS BAILOUT IS WRONG! “Is Purchasing $700 billion of Toxic Assets the Best Way to Recapitalize the Financial System? No! It is Rather a Disgrace and Rip-Off Benefitting only the Shareholders and Unsecured Creditors of Banks” Nouriel Roubini YOU ARE DESTROYING OUR FUTURE WITH YOUR RECKLESS RUSH TO PASS A FLAWED BILL! I WILL VOTE YOU OUT OF OFFICE IF YOU VOTE FOR THIS BILL AND I WILL TELL EVERYONE I KNOW.

“The Effective Fed Funds rate has been trading 50 basis points or more below the 2% target for five straight days now, and for the last two days, it has traded 75 basis points under.” (Don’t take Karl’s word for it, here’s the official data.) What is Ben Bernanke doing? Why did WAMU fail on a Thursday instead of a Friday (like the other 6 banks?) Hank Paulson was the CEO of Goldman Sach’s.