Kerry wrote back... or did he?
I sent the note to Kerry .. mad as hell about him not being part of the 2A team in DC.. (I was not surprised... just mad as hell)... I finally got a response.. lets see... a little over 3 months and.... not a thing to do with 2A...
.. He runs his office the same way he stands on issues.. no supervision
Quote.....
Dear Friend:
Thank you for writing to express your views on Emergency Economic Stabilization Act oversight and implementation. I appreciate hearing from you on this important issue.
This is a volatile time for our financial system and our broader economy. Our nation is facing its greatest economic crisis since the Great Depression. A series of financial institution failures and frozen credit markets have imperiled our economy. I am pleased the Congress came together across party lines last October to help strengthen and stabilize America's economy by enacting the Emergency Economic Stabilization Act of 2008 (EESA).
The EESA provided up to $700 billion in two phases to the Secretary of the Treasury to provide capital loans and purchase assets from financial institutions. Included in this legislation was the creation of a strong and independent Congressional oversight panel as well as a Special Inspector General to monitor the use of these substantial and necessary funds and to devise recommendations on how to improve the process moving forward. Additionally, there were provisions aimed at preventing excessive executive compensation and other abuses at companies taking advantage of these funds.
To date, approximately half of the funds provided in that legislation have been put to use and we are beginning to see restored confidence in our capital markets and our financial institutions. Even though there remains an unacceptable measure of uncertainty in the stability of America's financial foundation, the temporarily stalled economy appears to be moving again. It is likely that additional Federal funds will be necessary to build on the progress we have made, but I am confident that our targeted investments today will allow America to fully recover from this recession.
The Senate Finance Committee recently held a hearing to discuss the progress and oversight of the funds provided in EESA. One discussed item of great concern was the exorbitant and unjustifiable bonuses received by AIG executives following AIG's receipt of Federal money. I will continue to work with Congress and the Treasury Department to explore potential avenues to stop abuses of this sort from occurring, and I have also introduced the TARP Taxpayer Protection and Corporate Responsibility Act of 2009, which would prevent corporate beneficiaries of Federal funds from misusing those funds on unnecessary holiday or entertainment events. The very executives who got us into this financial mess cannot be allowed to waste taxpayer money or to escape with golden parachutes.
Federal assistance for struggling financial firms is an effort to protect businesses and families from a serious credit crunch. The stark reality we face is that without Federal assistance, our financial system could collapse. Small businesses would be unable to obtain financing and jobs would vanish. Families would be unable to borrow for new homes or to send their children to college. Retirement funds would plummet more than some already have. Those are the stakes, and that is why I support conditional government assistance. If the money continues to be appropriated effectively, monitored by a strong oversight body, and used in productive and wise ways in concert with other economic stimulus measures, I am confident we will steer America onto the fast track for economic recovery.
Thank you for your correspondence on this important matter. Please don't hesitate to contact me again on this or any other issue of concern to you.EMAIL.BEGINHIDE.MERGE
Sincerely,
A
John F. Kerry
United States Senator
JFK/axl