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Bailout Plan Makes Strange Bedfellows
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Newspaper Article

Bailout Plan Makes Strange Bedfellows

BY Tom Hamburger and Peter Wallsten

At almost the same moment, two unusual scenes were playing out on the House side of the Capitol last Tuesday. Beneath the ornate ceiling of a House caucus room, angry conservative Republicans were confronting Vice President Dick Cheney over the Bush administration's $700-billion financial bailout plan.

09/28/2008
Include GSE Free Market Reform in any Bailout Bill
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Press Release

Include GSE Free Market Reform in any Bailout Bill

September 26, 2008 Dear Representative/Senator: On behalf of FreedomWorks’ 500,000 grassroots activists across the country, many who oppose the Wall Street bailout, I urge you to include the GSE Free Market Reform Act introduced by Rep. Jeb Hensarling in any legislation addressing the current economic crisis.

09/26/2008
FreedomWorks Cheers Republican Jeb Hensarling's (R-Texas) GSE Free Market Reform Act
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Press Release

FreedomWorks Cheers Republican Jeb Hensarling's (R-Texas) GSE Free Market Reform Act

To deal with the root cause of the current economic crisis, Rep. Jeb Hensarling (R-Texas), Chairman of the Republican Study Committee, has introduced the GSE Free Market Reform Act. The Government Sponsored Enterprises (GSE's), Fannie Mae and Freddie Mac, were private, federally chartered companies that used their implied federal guarantee to borrow at bellow market values and amass a catastrophically large amount of debt. They failed to adequately asses the risk of their investments, and now they are the taxpayers’ responsibility. On September 7, 2008, Freddie and Fannie were placed in conservatorship by the Federal Housing Finance Agency, placing hundreds of billions, if not trillions, of taxpayer dollars at risk.

09/26/2008
FreedomWorks Cheers House Republicans for Standing Up for Taxpayers
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Press Release

FreedomWorks Cheers House Republicans for Standing Up for Taxpayers

At the recent White House meeting to push a giant Wall Street bailout onto the taxpayers, House Speaker Rep. Nancy Pelosi (D-CA) credited the House Republicans with standing up against this monstrous legislation, saying, “We’re not the ones trying to blow this up. It’s the House Republicans.”

09/26/2008
Anti-Bailout Petitions Crop Up Online
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Newspaper Article

Anti-Bailout Petitions Crop Up Online

As US politicians wrangle in Washington over a financial rescue package for Wall Street, angry denizens of cyberspace are making their views known on the proposed 700 billion dollar bailout. At petitiononline.com, a group calling itself "Taxpayers Against a Wall Street and Mortgage Bailout" has attracted 13,865 signatures to an online petition to President George W. Bush and Congress opposing the bailout. "Please do not support the efforts to bail out mortgage holders and mortgage lenders with my tax dollars," the petition urges.

09/26/2008
Lawmakers Weigh Political Risks of Stance on Bailout Plan
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Newspaper Article

Lawmakers Weigh Political Risks of Stance on Bailout Plan

BY Sarah Lueck

With leaders in Congress working on a controversial financial-rescue plan, rank-and-file lawmakers face a crucial election-year question: If they back the proposal, will they pay at the polls? Populist outrage has been spilling out across the country from people of all political stripes. Lawmakers say they have received hundreds of calls and emails in recent days, almost uniformly against the idea of giving the government the power to buy billions of dollars in distressed assets to keep the financial system afloat.

09/26/2008
Bank CEO Explains Why Bailout is a Bad Idea
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Press Release

Bank CEO Explains Why Bailout is a Bad Idea

The chairman and chief executive of BB&T Corp., submitted a 14-point letter Tuesday to all 535 members of Congress on the bailout: "There is no panic on Main Street and in sound financial institutions. The problems are in high-risk financial institutions and on Wall Street."

09/25/2008
FreedomWorks Opposes Senator Reid’s (D-NV) Attempt To Extend Ban On Domestic Energy Production
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Press Release

FreedomWorks Opposes Senator Reid’s (D-NV) Attempt To Extend Ban On Domestic Energy Production

FreedomWorks President and CEO Matt Kibbe made the following comments about Senate Majority Leader Harry Reid’s (D-NV) attempt to slip an extension of the energy development ban past the American people while so many are focused on the proposed $700 billion Wall Street bailout:

09/25/2008
Hoosiers Give Lawmakers an Earful Over Bailout
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Newspaper Article

Hoosiers Give Lawmakers an Earful Over Bailout

BY Maureen Groppe

Lois Nadler, a retired bank vice president from Indianapolis, is so outraged by the proposed $700 billion bailout of the financial industry that she did something unusual for her: She contacted her congressman and her senators. "The government should let the financial markets take care of the problem," Nadler said. "They got themselves into this, and they can and will find a way out." Lawmakers are getting an earful from constituents as they figure out how to handle the financial industry rescue plan the Bush administration says needs to be approved by the end of the week.

09/25/2008
It's Judgment Day for McCain
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Newspaper Article

It's Judgment Day for McCain

BY Thomas Frank

Last week, Republican presidential candidate John McCain called for a commission to "find out what went wrong" on Wall Street. It was an excellent suggestion: Public inquiries into Wall Street practices served the country well in the 1930s.

09/24/2008

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