2008-05-14 21:49:59 -
www.freedomworks.org - FreedomWorks Foundation Adam Brandon, 202-942-7698 abrandon@freedomworks.org The more Americans learn about the $300 billion taxpayer bailout of reckless lenders and borrowers, the more the opposition and outrage grows.
The Frank plan that passed the House of Representatives last week lets banks cherry-pick the worst loans with the least-qualified borrowers, and shift those loans 100 percent to the taxpayers.
It's not fair to force responsible Americans to foot the bill for the least worthy borrowers and their lenders.
One hub of the growing opposition is a project of FreedomWorks, AngryRenter.com. In just a few weeks since going live, over 47,000 citizens have signed the "Angry Renter" petition in opposition to the housing bailout: -0- WHEREAS: Most
Americans rent or own their home outright, and the vast majority of homes (98%) are not in foreclosure. WHEREAS: Both banks and borrowers should be responsible for their actions, and the government should not reward reckless behavior. WHEREAS: It is wrong to force all taxpayers-- including renters who are already subsidizing home owners through the tax code-- to pay for additional bailouts for big banks and home flippers. BE IT RESOLVED: That Congress should not pass any bailout programs that reward risky borrowing and lending. Let the free market sort it out!
AngryRenter.com has garnered the attention of the media as CNN and FOX have run stories talking about the web site and its petition. The site is a rallying point for the opposition to the government mortgage bailout and is already having an impact on the debate. In addition to renters, homeowners that have manageable mortgages or that own their homes outright have flocked to the site to sign the petition and post comments expressing their outrage at the proposed bailout.
FreedomWorks, a non-profit, non-partisan group working for economic policies that promote competition and fair play, launched the web site AngryRenter.com to give renters and other concerned Americans a web site to oppose government bailouts and bring new voices to the housing policy debate. Further, FreedomWorks is launching an aggressive phone mobilization campaign to connect thousands of its members from targeted states with Senators that FreedomWorks has identified as key votes on the bailout bill now moving in the Senate.
ΒΆ 47,000 citizens sign petition against FHA bailout of reckless
borrowers and lenders.
