Sen. Sessions’ letter to President Bush: Wake up!
One of my favorite conservative heroes in the Senate, GOP Sen. Jeff Sessions, tries to rouse lame duck President Bush from his stupor and urges him to exercise his constitutional duties.
It’s an exercise in futility, but a good try nonetheless.
November 14, 2008
The Honorable George W. Bush
President of the United States
The White House
Washington, D.C. 20500
Dear President Bush:
I am deeply concerned that the execution of your economic stabilization plan by Secretary Paulson represents an unprecedented governmental intervention in the economy that threatens our nation’s long heritage of limited government and commitment to the free market.
Although I understand the need for a narrow plan to help stabilize our nation’s financial sector, I opposed Sec. Paulson’s bailout plan because it represented a massive interference in the market, one which hinged on the delegation to a single unelected executive branch official the authority to spend $700 billion in taxpayer money. Unfortunately, recent events have confirmed my fears that this unfocused scheme provides a basis for almost any action, including direct government ownership of private corporations, and sets a dangerous precedent.
Less than a week after pushing for authority to purchase distressed securities, Sec. Paulson altered the focus of the Troubled Asset Relief Program (TARP) to recapitalize banks instead. That move directly contradicted his prior testimony to the Senate: “There are some that said we should just go and stick capital in the banks . . . but we said the right way to do this is not going around and using guarantees or injecting capital.” Since that time, Sec. Paulson has abandoned the stated goal of purchasing distressed assets and is now concentrating on purchasing large equity stakes in banking institutions. The financial sector recovery program operating today is entirely different from the one outlined to, and approved by, Congress in October. I can only conclude that the swift reversal from purchasing toxic assets to stock purchases was part of a plan to mislead the Congress because massive stock purchases would have received a much more hostile reception.
Predictably, efforts are now underway to expand the TARP to bail out private companies suffering in a recessionary economic climate, notably the big three auto manufacturers. Allowing this trend to continue sends a clear signal to foreign nations that the United States has turned its back on the free market and is a virtual guarantee that other “vital” industries will request government assistance in the future. As estimates for the Fiscal Year 2009 federal deficit approach the staggering $1 trillion mark, we must ask: where do we draw the line?
With this in mind, I urge you to:
1. Publicly outline a plan for extricating the government from the market as soon as reasonably possible, limiting further interference, and allowing markets to function in the future, as well as emphasizing clearly why this is an important principle.
2. Establish guidelines for making the TARP’s basic earnings and loss data – similar to that found on a corporation’s quarterly statement – available to the public. The Administration has argued that taxpayers may be made whole by the future sale of equities purchased by the TARP. Accordingly, the American people have the right to know the status of their investment.
3. Oppose the economic stimulus package that includes an additional bailout for troubled auto manufacturers. Your administration should not allow a struggling economy to be used as justification for a huge surge in government spending and control.
It seems to me that Sec. Paulson, whom you obviously admire, has assumed an inappropriate role in our governmental system. He is acting as a Wall Street investment banker, allocating hundreds of billions of dollars in taxpayer money, with no oversight and no stated plan. This undermines our heritage of law and order, and is an affront to the principle of separation of powers. Of course, the Secretary works for you and serves at your pleasure. While you have many challenges in these busy days, I believe you have a clear constitutional duty to personally supervise his actions and to direct this process. I urge you to do so.
In this time of economic turmoil, let your actions clearly reflect a commitment to the sound economic and governmental principles that have made our nation great. It is important that we recognize the magnitude of the precedent these actions have set, and that you intentionally act and speak in ways that limit that precedent for the future.
I have been honored to work with you on many important issues and please know that my affection and appreciation for you and your leadership remains strong.
Very truly yours,
Jeff Sessions
United States Senate
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Senator Sessions is own of my favorites also. President Bush was pretty much a lame something since his first election.
The man has no center. Our country is dying and Our President does nothing.
Heartbreaking.
Sen. Sessions is one of my favorites as well.
His letter is excellent. I hope it will be read and acted upon but…
And, somehow, without having even one candidate for president to vote for that does stand for a free market, we will go on.
I am truely depressed.
Thanks Sen. Sessions for your effort, but I don’t think Pres. Bush will do a hill of beans to stop this gosh horrible mess. When such a large number of American taxpayers do not want this our wonderful dc bunch does as they dang well please. We taxpayers just pay the bills.
L
Reject Obamunism — would be a good place to start for Pres Bush. He should explain how freedom and capitalism are inseparable.
I’m originally from Chicago, but I lived in Alabama when Sessions first ran for senate. I am proud to say I voted for him. I then moved to Minnesota and suffered through Jesse. I now live in California…
Yeah I know, it just keeps getting worse.
Someone should have told him to wake up years ago…
“Our country is dying…”
??
Talk about melodramatic…sheesh.
I think Bush pushed for this bailout to give the Dems enough rope to hang themselves. I think he gave this economic crisis to McCain on a silver platter.
All McCain had to do was come out strong against the bailout and he would have been elected by the base. Heck, even Palin was handing him ANWR on a silver platter too. All he had to do was hold a press conference from ANWR announcing he would drill there if elected president and he would have been elected by his base.
But nooooooo. McCain voted for the bailout and stayed adamantly against drilling in ANWR, and now he is Obama’s puppet. I believe Bush will have the last laugh in all this. I hope and pray the decent Republicans in Congress wake up, grow spines, and do something about this fiasco!!
So, sit back and enjoy the show. Watch the Dems make absolute fools out of themselves.
American got what she deserves. Sigh.
Sadly, that just might be the case.
We have to at least redouble efforts to defeat, and ultimately marginalize, for good, the socialists.
Senator Sessions stepped forward…where are the rest of the Republicans?
SILENCE>>>>>>>
The evil party and the
stupid party..
still making evil/stupid laws…
artbyruth, I think you give “W” too much credit.
Like a candle in the darkness, so standa out someone with A PAIR in Congress.
Does anyone else wonder about the Rasputin-like influence
PaulSkunkson seems to have over the President? Don’t get me wrong, I know Bush has no real problems throwing taxpayer dollars at made-up crises, but the amount of faith he’s put intoPaulSkunkson and his supposed abilities truly staggers the mind!!If Bush is this far-flung from reality, he should just drag up and resign today.
Sessions 2012. For something.
I wish you were right, but you are not. Without the safe harbor of American Enterprise Socialist can finally make the big leaps they have dreamed of for generations. State control will be absolute. Obama, Reid, and Pelosi–The new American Trinity. Perhaps now is the time for the Second American Revolution. But our people are weak and only wish to feed at the Federal teat.
Katrina and Brownie were an omen…
We have good senators in Alabama. Too bad a lot of the country doesn’t follow suit. If they pass the UAW bailout bill I think I will just give up on the whole bunch.
It is. Many of us will outlive the USA.
Dear Dubya,
I thank you for the job you have done along with your admin and our troops to keep America safe post 9/11.
Under these horrid times of war, you sir, have made me very thankful and proud to be an American, I thank you for that service to our Country.
May God continue to Bless you.
Who said there are no moonbats on the right?
Both Sessions and Shelby voted against the bailout, a vote to save the republic; Here in Tennessee, Alexander(not the great)and Corker(Porker) voted for it with glee, placing a fiscal curse on us and all future generations; Who will the GOP moving forward align themselves with?; I’m with the Jeffster.
Sessions and Inhofe would be IMHO a great ticket for 2012.
I second that motion but wonder why you would nominate him. You have all of these business you want bailed out!
Bush is too busy to worry about the economy or everyday citizens of THIS Country. His Emphasis since he has stepped foot into office is bolstering and proping up the corrupt and dangerous to America Gov’t just south of our border, and allowing lawless activity to flourish and be protected for those who are here illegally.
Thanks Michelle, we have another keeper.
Sadly, Sen. Sessions is right on. We can hope against hope that the President reads it and truly listens. And acts on it. Hope against hope.
As I’ve said before, it’s “woodshed time” for America. We’ve asked for it for many years and it has come. Our national “gimmee” attitude has finally come due for payment. I said that either God will be His Merciful Self as He time and again is and give us McCain/Palin…or…He apparently said, “Um, kids…not this time…you need to look in your mirrors…a long look at yourselves…!” and gave us Obama/Biden. It’s going to be a rough road…and we asked for it. How many of us here have longed to see the majority of Congress, BOTH SIDES OF THE CONGRESS, marched out in orange jumpsuits and leg irons? Both sides of the Capitol Hill Jurassic Park? Too bad there aren’t dozens of Jeff Sessions types there to take the reins.
Well yes, the AlohaGuy Enterprises wants a bailout, but only a billion or two. Other than that I support fiscal responsibility…
Unfortunately, no one is listening. The taxpayer/citizen has been disenfranchised. Our country taken away by socialists and robber barons, all without a single shot fired.
Like most Conservatives I just want to be left alone.
I hope that Senator Sessions posts the letter from Pres. Bush’s autobot responder. I’d like to compare it to mine.
I couldn’t be prouder that Jeff Sessions is my senator. He’s doing an outstanding job.
(Roll Tide!)
I have a feeling the only letters to the White House that are taken seriously are the ones with threats in them all the other ones go directly to the shredder.
I just emailed a copy to Mel Martini-ez just to be sure his office reads it. Of course, he is still in denial about the whole thing and thinks we are too stupid to know how bad this is for us.
AlohaGuy,
As a self appointed board member, I am with you 100%!
Rule #1 is if you see a problem, if you have a complaint, accompany the complaint with a alternative positive solution.
Senator Sessions did an outstanding job. Well written and sound recommendations. REFRESHING.
From The Birmingham News:
Between the letter and this quote, I don’t know of any Federal officeholder who’s done a better job of articulating the voters’ concerns with the bailout mess.
As much as I hate to say it, Bush seems to have lost his mind in recent times. I ask myself, “what is this guy’s motivation”?
His Presidential legacy is nothing to protect at this point. He helped lower taxes, but then sanctioned the largest increase in spending and government in the history of the country. He didn’t use his veto pen for the first seven years in office.
We haven’t been attacked again, so that’s certainly a tribute to his presidency. However, his record on border security is worse than Juan Hernandez. Why did he allow the persecution of Compeon and Ramos?
He can’t be preparing for his speaking engagements after he leaves office. Who would want to listen to him?
Does anyone have any ideas?
Anyway, congratulations to Senator Sessions. He’s one of the very few Washington politicians who really cares about this country. Most of them should be in handcuffs.
Does that make Nancy the Holy Ghost?
President Bush, PLEASE act on this letter. It it makes some libs mad, so what?
A crash like a 3000 mile wide bank safe is in freefall towards us and we’re spending money where? Like no tomorrow? Literally?
Our government needs to start acting like the worst has already happened and cut funding for everything that doesn’t save our lives.
The Constitution, that is so 1787
Bush is a sell out.
He leaves Ramos and Campean to rot. He leads the single largest redistribution of wealth scheme in history. He makes it possible for a left wing radical to become president.
On November 18th, 2008 at 1:23 pm, Artbyruth said:
All McCain had to do was come out strong against the bailout and he would have been elected by the base. Heck, even Palin was handing him ANWR on a silver platter too. All he had to do was hold a press conference from ANWR announcing he would drill there if elected president and he would have been elected by his base.
————————————–
Man, how I wish he would have done either one/both of those things.
On November 18th, 2008 at 3:17 pm, Mister P said:
Bush is a sell out.
He leaves Ramos and Campean to rot.
————————————–
I just saw this morning that he is not going to pardon them. Are you kidding me?!
LOVE Jeff Sessions! Wish he had run for President!
But Bush I think is doing what he planned to do all along….Traitorous creep who mulls over pardoning criminals whilst Ramos and Compean rot in jail. He is a scumbag!
Bush knows this mess can’t be fixed in any short amount of time. So he is letting Obama get involved now so that Obama has less excuse to blame Bush in a year or so.
Unfortunately, we elect politicians instead of leaders.
Conservatives got screwed because when our turn came around, rather than a real conservative we got another FreeMason in George W. Bush.
Hopefully, Obama will be as mucha disappointment to the Left as Bush was to the right.
The letter is excellent. The trouble is the recipient. President Bush has no economic ideology. One minute he espouses capitalism but the next minute he implements the exact opposite.
Just a cRus observation: Ivy League schools have to have the worst economics programs out there because it’s pretty obvious that the Ivy League ones in gov’t sure don’t understand the basics.
They did, he wasn’t listening just like now, bastard !
If this is fact true, two more reasons I dislike him.
Alabama is lucky. All I get is Feinstein and Boxer.
Sen. Sessions is wasting his time… and a tree. Pres. Bush has grown tone deaf from all the requests by Conservatives to remember the principles he “promised” to adhere to when he became president. I’m sure he’ll try to wring the last drops of bipartisan empathy out of his remaining days before Obummer takes over to assert his own version of progressive, bi-partisan, moderate, post-racial, new tone.
And the beat goes on….
3…2…1…lgm accusing me of being “mean” to Obummer. Sniff. Sniff.
I feel for you. I have Dick “U.S. Soldiers are like Nazis” Durbin and whomever Gov. Rod “No Guns for You” Blagojevich chooses to replace Barack “Hoping to Take Your Change” Obama.
I’m afraid for a long time Dubya has ROAD.
Retired (while still) On Active Duty…
I’m with ya, California Red. I have to put up with the Wicked Witch of the West and her evil stepmother, too.
They get elected by the voters in LA and the SF area. If those two idiots had to campaign in rural CA, they’d get laughed out of the state.
After all the dust clears on this bailout debacle,I’m wondering what kind of MARTIAL TAX enforcements they will place on We The People to pay for all of it..
Bingo! You win the gold star!
The last leader we had was Ronald Reagan. Before that, Abramham Lincoln. Before that, Jeffereson. Before that, Washington.
4 out of 44. That’s a .090 batting average. Three are in the first 16 and of those, two never went to college. Which tells you what about 19th and 20th Century academia?
+1
You are joking, right?
If they really wanted to turn this economy around and if they’re willing to fork over $750,000,000,000, then they should divide that money to each and every TAXPAYER in this country. Direct deposit enough money to pay off their mortgages then allocate $$$ to each taxpayer to buy a new Big 3 automobile, and then give the balance in cash. Mortgage mess SOLVED. Big 3 problem SOLVED (almost – but their business will be booming.) Lower capital gains tax to 5%.
This bailout just proves to me that those with the money and power are completely out of touch with reality. Giving the bailout money to Wall Street is just an example of the tail wagging the dog. Wall Street is simply a barometer of what the PEOPLE are doing.
I can’t remember a bigger mess and I can’t see leadership on the horizon that can bring us out of this. I honestly don’t know where it will end.
I respect Sessions a lot, but what on Earth makes him think that Bush will pay any attention at all to his letter? Paulson is HIS GUY!
Bush is our generations NERO, sitting idly by while our country has gone half to hell over the last 7 1/2 years. Immigration, NAFTA, Kennedy “education” bill, North American Union, no guts to push for court appointments, no guts to push ANY conservative agenda. If it were not for the Dems nominating Gorebot and Kerry – Bush would be an afterthought of history.
The result of this nonsense, and waste of Republican/Conservative control, will be our childrens children will be paying through their lungs with no hope of ever collecting Social Security from their confiscated income.
A pox on ALL of these bastards.
We have lost our way. I heard on the radio yesterday that 60% of credit card holders are not even making their minimum payments! Morally bankrupt.
Why, why, why do even conservatives keep voting for incumbents? If we can’t get term limits (Congress will never do this voluntarily), then we just can’t keep sending these incompetents back to Congress. Gee Whiz, why is this so hard. Better to write in someone than to keep sending these b-stards back!! It’s time to wipe the slate clean and start again. ALL of them are on the take and they would rather see their COUNTRY BANKRUPT before giving up their jobs. When even Murtha gets REELECTED, there’s something terribly wrong. Write/call your current criminal in office and tell him/her they work for you–NO BAILOUTS TO ANYONE.
I think I can do Senator Sessions one better… tell the world, tomorrow, that we’re done with bailouts.
You have to wonder how many financial players are sitting on their hands waiting to see what happens. Will this or that insurance company get money? Will they or won’t they let the automakers go bankrupt? Will they or won’t they let Citibank fail? Or will they make it merge with another bank? Will they or won’t they send out more “stimulus” checks. Uncertainty is not good for business.
As they say, the sharpest knife cuts quickest.
GWB may (or may not have) kept the country safe from any large scale terrorist attacks… but I can’t say that I’ll miss him otherwise.
The only reason to defend the man is because the Democrats have acted with treasonous irresponsibility – vicious sniping from the sidelines regardless of the cost to the nation.
With The Messiah in the White House (oh, dear, I hope that’s not racist), they won’t have GWB to kick around anymore.
Excuse me? Haven’t you been paying attention since the Roosevelt era, Jeff?
I think Alabama will soon be the only state left fit to live in.
rit