I recently posted about the mess the Senate is trying to make with the foreclosure crises here. You will see a great quote from Senator Jim Bunning, a Kentucky Republican. “I do not think the people back in Kentucky sent me to Washington to bail out speculators, Wall Street executives and people who drained the equity in their homes to buy flat-screen televisions and new cars.”

I decided to send him a thank you for his honesty.

Senator Bunning.

I wanted to say thank you for being one of the few honest voices in regards to the current credit and foreclosure crises and especially the current measure being passed by the Senate. This mess is a combination of bad monetary policy from the fed, bad business decisions by banks, and horrible decisions by people who were jumping on the real estate bubble.

I am not from your state, but I know that I expect my elected officials here in Florida to keep my tax dollars away from the people who made these decisions. The government is not authorized to be in the business of bailing out the millions of people who stretched themselves to the brink using theoretical house equity. In doing so, the Senate is telling the banks that they do not need to consider risk when loaning money to people. They are telling the people that they do not need to consider the future when they sign their names on the contracts. They are indeed trying to tell people and businesses that they can do as they wish at any time because the federal government will simply use tax dollars to bail them out of the mess they put themselves in.

The Senate is also telling investors that they have no desire to see a strengthening of the US Dollar. The current value of the USD is causing inflation all over the world by driving up commodities, yet the Senate has taken another step in devaluing the USD.

In researching your record, I found a site called themiddleclass.org which has given you a low grade claiming that you do not support the middle class. It also claims that by not supporting this measure and previous foreclosure measures, that you are not supporting the middle class. I say that the exact opposite is true. I say that you help the middle class by not taking actions that reward those who purchase a house for twice what is was worth a year before. I say you help the middle class by not rewarding those who refinance their homes so that they can buy new televisions and cars. I say you help the middle class by not passing laws that push down the USD and in turn push up the price of gas, food, and copper.

The final nail in this coffin will be a government under the complete control of a democratic party that is already promising to increase the size and scope of this bail out. If the White House is given to them, the mortgage industry will be all but socialized, the people who made these mistakes will not be responsible for them, the value of the USD will tank, inflation will skyrocket at an even faster pace, and the US economy will hit a low that will takes years to recover. This message needs to be made loud and clear very soon. More honest voices such as yours need to be heard, and people need to be educated on the consequences of the bail out that is in process.

Thank you for being one of the few honest voices in Washington regarding this issue. I posted an article regarding this at my site, www.thenewpundit.com with your quote, “I do not think the people back in Kentucky sent me to Washington to bail out speculators, Wall Street executives and people who drained the equity in their homes to buy flat-screen televisions and new cars.”