Dear Rep. -----,
I am not shocked that the Bush administration has proposed a policy (I won't say "solution") to the financial services crisis which involves a huge amount of money, no clear plan and no oversight: that's exactly in line with Bush Administration policy in every other area.
What I am shocked and dismayed about is that anyone in Congress is taking this proposal seriously. It deserves no better than amused rejection -- "There you go again," in Reagan's words -- and a serious discussion with real economists, financial experts, lawyers, and people with some sense of history and decency. That might result in a Resolution Trust-style solution, or a Japanese-style attempt to bolster bank's capital lines, but it won't result in a blank check and a hope that Republican loyalists won't use that money against Democrats and the rest of America.
Please refuse to consider the administration's proposal, because it is unworthy of consideration. There are dozens of better ideas out there that don't involve imbalancing the Constitution, wasting a trillion dollars and bolstering a failed party.