An Open Letter to Nancy Pelosi = The Credit crisis bailout

To: Ms Nancy Pelosi
Speaker,
United States House of Representatives
Washington DC

Dear Madam Speaker:

As I write this small note, you are busy with the bailout plan. The plan proposed by people who want "Government should be off my back" but wants "to ride on the Government's back" at times of trouble!

Second, why did I select you. As I have seen, you have demonstrated the cool calculating sang-froid in this debate. Furthermore, the appropriation bill has to pass your house first and you have the power to stop this on the tracks.

I have some questions. They are sometimes moral and sometimes economic. They are fundamental questions that I feel that twenty-four percent of the taxpayers support and a whooping fifty-one percent consider it as a power-grab!

Where will the money come from - now?

With the budget projected to overshoot by $41o billion. We are issuing T-paper to obtain this money. Now I guess we need to issue another $700billion of T-paper. Who is going to buy this paper? The Federal Reserve banks?

Good part of it will be purchased by the Fed Reserve banks who will print the money for you.

By this excessive deficit financing, are we not asking for inflation. To tame this inflation, the feds would have increase interest rates and so won't that hurt our economy too?

Where will the money come from - later?

Sometime later, we have to pay back $700 billion or $2333.33 per American. Who is going to pay for these and when? Our children?

And why should they pay for it? What they are getting in return? High speed transcontinental railroad? Health care system? Education? By now many web-sites would be up and running on translating this money on more concrete terms.

Please note that we are handing our children a bill for the mistakes made by us!


What is the Taxpayer Protection to money given to the company?

Is the money given to the companies are given as purchase of junk mortgage bonds and then they can do whatever they feel like?

What steps have we taken to keep the investments senior-most?


What are you going to do if this happens again?

So two years from now we have another such a mess ! What would we do?


What are regulatory protections do we have to protect America from future Wall Street Greed?

FORTY_THREE DAYS to E-DAY

Sorry for the long hiatus. However, it is time to get into business.

Clearly I support Barak Obama. And here is why! Shall be updated as time progresses...

At first let's get the real emotional reason out the way! If a son of a first generation immigrant can become the President of the United States then any child of a first generation immigrant (which includes me!) can aspire for the same!

Now comes the rational ones....

a: Leadership vs micro-management: This is typically me! Obama has shown to lead via inspiration and letting the details come from below. A good leader makes things happen. I expect him to inspire people to lead. This is the basic reason many intelligent people voted for him in the primaries. We are electing the President of a Republic and not the Commander-in-chief of an empire.

b: Foreign Policy: Enough of cowboy diplomacy. The Iraq war is going to cost the US Treasury three trillion dollars. No problem has been solved. On the other hand, Afghanistan is burning funded by the ISI. Furthermore, the world has a low opinion of the US. Mr Obama as President would not only clean up the darkness but also brighten it. In the twenty-first century the world moves not via governments but via people. Did anyone watch Obama's speech at Berlin Tiergarten.

c: Economy: The Bush model has failed beyond imagination. The Clintonian "neoliberal model" seemed to give dividends. With a person like Mr Volker, as an advisor, I expect Obama to save the middle class which is always the engine of growth.

d: Green Policy: The Republican Party is completely in denial of the Climate Change problem. Most of the approaches are cosmetic.

e: The Philosophy of Change: This is the subtle philosophical piece. "Everything changes, nothing remains without change", said Buddha. "You cannot step on the same river twice", said Heraclitus. The US to advance in the twenty-first century must change. Making this the central election manifesto is not only philosophical but also a psychological killer.