From the Americans for Prosperity website:
Alert: Don’t let Congress regulate the American Dream away
Taxpayers shouldn’t be on the hook to bail out borrowers that chose risky loans or purchased houses they couldn’t afford in the traditional mortgage market. And government shouldn’t intrude on the freedom of individuals and businesses to engage in risk-taking, which is key to creating economic growth. But some lawmakers want to turn gloomy stories from the sub-prime mortgage market into an excuse for increasing the size and interference of the federal government.
The House is set to vote on legislation that would regulate away the American Dream as soon as Thursday, Nov. 15, so your immediate action is important.
Please help Americans for Prosperity oppose: creating or expanding programs to provide explicit or implicit government loan guarantees, direct-aid to borrowers, Granting bankruptcy judges the power to rewrite mortgage contracts, and, onerous new regulations that go beyond disclosure.
Sub-prime mortgage lenders and their customers entered into agreements that both understood to contain certain risks. Taxpayers should not be forced to pick up the tab for irresponsible risk-taking, but neither should government intervene to prohibit risk-taking that can deliver greater economic opportunity to many families.
The proper role of government is to ensure full disclosure for those entering into financial agreements and fully prosecute fraud where it has occurred, not reward financial imprudence or punish responsible risk-taking.
Visit their website, contact your congress-critters, and keep the American Dream alive.