End Bailouts

This petition is to urge you to take immediate action to stop the abuse of taxpayer money for the purpose of bailing out reckless private enterprises.

We understand that if public funds are not used to stabilize the 'financial system', the results of a collapse would be traumatic and international, including a soaring cost of credit, the endangerment of millions of long-term retirement investments (including my own), and lasting economic difficulty. The results of establishing a precedent of public liability for private debt, however, will be far worse in the long run.

If an American is given the choice between a few decades of economic hardship including the loss of their retirement, or a future of doubt and debt for their grandchildren, the American will choose to bear the hardship so that there will be hope for future generations. We would prefer to suffer the consequences of our own errors than pass that suffering along to the next Americans. Our nation is built on personal sacrifice for the good of our children.

This commingling of public and private obligations would be a bad and shortsighted move under any conditions, but at a time when our national debt is close to record highs and our international standing is weakened, it is nothing short of a crime against America.

What we've been told is that some private businesses are simply "too big to fail," because their failure would have unacceptable and widespread adverse effects. If this is the case, and the public stands to be liable for the failure of such businesses, there must be immediate implementation of a law prohibiting private enterprises from reaching that size. If no such law is to be established, then no tax money should ever be used to bail such firms out.

The Band-Aid of public debt assumption to prop up the 'financial system' will not work in the long term and is misguided. This policy would cheat the American population out of what they believe in and have worked for, the American dream that hard work and personal responsibility can give hope for our future.

There is no sound justification for giving our funds away to irresponsible corporate elites. The market is based on the idea that one takes risks, and reaps the rewards therefrom if they pay off -- and pays the price therefore should they prove unwise. If we are going to assert that the United States is a market economy, we must be willing and able to face the realities of the way markets operate.

Please stop this violence against our values. Stop the theft of our funds. Stop the government from assuming the debt of irresponsible corporations and 'bailing out' or nationalizing failing private firms. This is your duty to protect the American people from a bleak future.

Please take action now! Stand up for our rights, our freedom, and don't be cowed by the fear that we now face. We will stand along side you.