The U.S. House passed the "Foreclosure Prevention Act of 2008" Thursday by a vote of 272-152. Check the roll call of who voted for the bill HERE
Here is some of the bill's fine print, as outlined by Congressman Paul in the above video:
- $2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”
- The U.S. Treasury now allowed to buy all ‘F & F’ housing securities
- Congress no longer involved in appropriating funds (the Treasury now does)
- National Debt Ceiling moved up another $800 BILLION
- Treasury Bills being exchanged for unwanted ‘F & F’ securities (Treasury Bills are the asset which “backs up our currency.”)
This bill will breed inflation and place more pressure on the already deflated U.S. Dollar.
- Mortgage industry workers “will now have to be fingerprinted.”
- ALL credit card transactions will now be reported to the IRS.
Are you mad yet? The bill now moves to the Senate, where a vote is expected Friday or Saturday. The President has said he will sign the bill into law if it reaches his desk.
Click the read more button to contact Senators Carl Levin and Debbie Stabanow and let them know if you are upset about the "Mother of all Bailouts."
Levin, Carl- (D - MI)
269 RUSSELL SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-6221
Web Form: levin.senate.gov/contact/index.cfm
DETROIT
Patrick V. McNamara Federal Building
477 Michigan Avenue, Suite 1860
Detroit, MI 48226-2576
Phone (313) 226-6020
Fax (313) 226-6948
TTY (800) 851-0030
9:00 a.m. - 5:30 p.m. location map >
TRAVERSE CITY
107 Cass Street
Suite E
Traverse City, MI 49684-2602
Phone (231) 947-9569
Fax (231) 947-9518
9:00 a.m. - 5:30 p.m. location map >
SAGINAW
515 N. Washington Avenue, Suite 402
Saginaw, MI 48607-1370
Phone (989) 754-2494
Fax (989) 754-2920
9:00 a.m. - 5:30 p.m. location map >
GRAND RAPIDS
Gerald R. Ford Federal Building, Suite 720
110 Michigan Street, NW
Grand Rapids, MI 49503-2313
Phone (616) 456-2531
Fax (616) 456-5147
9:00 a.m. - 5:30 p.m. location map >
WARREN
30500 Van Dyke Avenue, Suite 206
Warren, MI 48093-2109
Phone (586) 573-9145
Fax (586) 573-8260
9:00 a.m. - 5:30 p.m. location map >
LANSING
124 W. Allegan Street, Suite 1810
Lansing, MI 48933-1716
Phone (517) 377-1508
Fax (517) 377-1506
9:00 a.m. - 5:30 p.m. location map >
Stabenow, Debbie- (D - MI)
133 HART SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-4822
Web Form: stabenow.senate.gov/email.htm
Mid-Michigan Office
Senator Debbie Stabenow
221 W. Lake Lansing Road, Suite 100
East Lansing, MI 48823
Phone: (517) 203-1760
Southeast Michigan Office
243 W.Congress Suite 550
Detroit, MI 48226
Phone: (313) 961-4330
Western Michigan Office
3280 Beltline Court, Suite 400
Grand Rapids, MI 49525
Phone: (616) 975-0052
Flint/Saginaw Bay Area Office
2503 South Linden Rd.
Flint, MI 48532
Phone: (810) 720-4172
Upper Peninsula Office
1901 W. Ridge
Marquette, MI 49855
Phone: (906) 228-8756
Northern Michigan Office
3335 South Airport Road West Suite 6B
Traverse City, MI 49684
Phone: (231) 929-1031
