Every week, 2,000 - 3,000 Second District residents write to me about the issues pending before Congress, and I work hard to respond to each person as promptly and thoughtfully as possible. On this "Letter of the Week" blog, I highlight constituent letters that are of general interest. If you'd like to share your own views, please feel free to e-mail me at any time!

Dear Nancy,

As a person of faith, I believe how we spend our nation's money
is a reflection of our moral values. Therefore, I am extremely
concerned about the current unaccountable $700 billion bailout
package being discussed for Wall Street.

Secretary Paulson must not be given a blank check of powers to
spend our money. More importantly, as a taxpayer being asked to
pay for the unacceptable risk-taking of the financial industry,
I am writing to tell you that any "rescue" package must contain
investments to protect the most vulnerable in our society.

I urge you to pass a fair and just bill that contains:

- Strict accountability measures, including an independent
oversight authority and transparency at all levels

- Comprehensive, long-term regulatory solutions

- A commitment that any funds spent to bailout investors will be
matched by at least a 10 percent tithe to support millions of
Americans who have lost their homes and those still at risk of
foreclosure.

As you make difficult decisions that will impact the future of
the American economy, know that I am praying for wisdom for you
and the rest of our nation's leaders.

"Plans fail for lack of counsel, but with many advisers they
succeed."
Proverbs 15:22, NIV

Jennifer from Atchison, KS.

Dear Jennifer,

The last several days have been truly unique in my time in office.  I often say that democracy is a contact sport; it only works if the people keep in contact with their representatives.  On most issues, the vast majority of contacts are organized call-in and write-in campaigns.  This issue is different.  Almost every call and e-mail is individual and spontaneous.  I’ve heard from conservatives, moderates and liberals, but across the political spectrum, they’re almost all opposed to Bush’s bailout.  I hear the same thing from my colleagues.  The American people are making their voices heard, and they’re making a difference.

I want you to know that I also oppose the bailout.  I put out a press release explaining my position.  Instead of communicating through the media, I wanted to send this to you directly.

WASHINGTON, D.C. – Congress is considering President Bush’s proposal for a $700 billion bailout of the financial markets by the government. Congresswoman Nancy Boyda (Kansas Second District) issued the following statement on the proposal:  

“It’s obvious that the New York markets are in turmoil. President Bush has proposed a plan to fix that.  I agree with him that government has a role in keeping markets running smoothly, but it appears that’s about all we agree on.

“President Bush is asking Congress for sweeping new power with no judicial review, no effective oversight, and no real limit on the money that can be spent.  He’s trying to ram it through with little debate by sowing fear and anxiety.  I don’t like those tactics, and I don’t like his proposal.

“If President Bush thinks that Wall Street really needs $700 billion in taxpayer dollars, then he should come before the American people to ask for it and tell them how he plans to pay for it.  If he will not do that, I will work with my colleagues to develop a plan that achieves five basic goals:

•    Minimizes expense and maximizes profit for the taxpayer
•    Restoring the availability of credit to business and consumers
•    Protecting our responsible community banks who avoided the mess
•    Enacting regulations to prevent this from happening again
•    Preventing those responsible for the mess from profiting in the rescue

“We can’t pay for every bad decision that anyone ever made in this country.  Our goals should be the best deal for the taxpayer that gets the markets running again.  I think Bush’s plan fails on both counts.  It takes from the taxpayer for Wall Street’s benefit, but it doesn’t provide the capital the banks need to get this country moving again.”

Things are moving quickly in Washington, and I’m sure that there will be more proposals to consider in the days to come.  I hope you will continue to keep in touch with me, and I will continue to do the same for you.

Very truly yours, 

Nancy Boyda
Member of Congress