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Congressional Candidate Doug Cloud condemns the destructive $700 billion bill which his opponent voted for and says such proposals are not only the wrong approach to addressing the financial crisis, but would have only served to worsen the problem. Tacoma, WA – Sixth District Congressional Candidate Doug Cloud says Norm Dicks' Monday vote for the $700 billion Wall Street bail-out package was little more than an attempt by he and other incumbents to maintain their positions of power just long enough to get past the coming election. Cloud said what the bill proposed was in fact "legalized theft" which could "only forestall, and ultimately deepen, the financial crisis." That Dicks voted for the bail-out is but another example of how he puts the interests of the Democrat Party leadership, lobbyists and other special interests above the wishes and the best interest of his constituents. This is consistent with Dicks' overall record, since he obeys the wishes of Nancy Pelosi and Harry Reid with over 96% of his votes. While the American people of all political stripes, across the nation and right here at home, overwhelming oppose such bad legislation, Dicks continues to exhibit contempt toward the wishes of the people and a lack of responsiveness to Washington voters. On how to deal with the financial crisis, Doug Cloud sees the situation differently than Dicks.
"Those individuals and firms who through their bad policies and worse corruption brewed up this toxic financial situation, should be the ones who suffer the losses. They should not be allowed to loot the United States Treasury and pass the debt on to our children just to save their ill gotten gains."
"Prices of homes and all manner of other assets must adjust downward. The quicker this occurs the better because houses won't sell if they remain overpriced. Attempts to repeal the laws of economics through legislation are a fool's game."
"Congressional micro-management of the economy resulted in this mess. Congress has repeatedly forced lending institutions to lend to people who cannot pay back the sums borrowed, or encouraged excessive borrowing by keeping interests rates artificially low, making credit too easy to get. "
"Democrat insiders have used the Fannie Mae and Freddie Mac twins to fund their campaign war chests, and dutifully they have voted to increase the housing bubble until it popped. The new attempt to shift the losses of these fraudsters to the taxpayer is financial suicide and a sure ticket to societal impoverishment. "
"The solution is to allow the markets to price these worthless or near worthless assets appropriately, allow insolvent firms to go bankrupt, and allow new firms and more astute investors to rebuild the financial markets based upon sound principles of risk and investment. "
Doug Cloud understands that we are in a stage of 'correction,' and that it is necessary for the market to cleanse out all the bad debt so the system can fully recover. If Congress tries to manage the correction, as did Presidents Hoover and Roosevelt during the Great Depression, the negative effects of these financial problems will be delayed but eventually much more severe and persisting. The laws of economics cannot be reversed. To try would only lengthen the recession, or worse.
Norm Dicks is advocating the wrong solutions. In fact, the policies he supports are more of the same economic intervention which caused the current crisis. Yet Dicks has consistently refused requests for him to come before the voters and explain his positions as well as answer to the criticisms Doug Cloud has put forth. There have been multiple opportunities for debates and candidate forums for the congressman to attend in most of the six counties comprising the 6th congressional district. After repeated requests for an appearance, Dicks still refuses to explain himself in front of his own constituents.
Doug Cloud offers real leadership, not a cold shoulder to Washington residents. While Norm Dicks seems to not have the economic understanding for these types of situations, Doug Cloud understands what works and what doesn't. he knows what a congressman should do and certainly shouldn't do:
" I will fight all further attempts to rob the taxpayer and freedom by those who created the economic problems they neither understand nor know how to solve."
Doug Cloud is running for Congress in Washington's 6th District. For more information, go to www.dougcloud.com.
CLOUD FOR CONGRESS, INC.
PO Box 5846
Tacoma, WA 98405
(253) 627-3133 |
