Ed and I were watching MSNBC tonight and learned that the Republicans are responding to a tremendous flood of mail and phone calls urging them to not bail out our financial institutions.

My own (Democrat) activist friend has sent out many E mails to her network urging action against it. I E mailed her that I thought her position was not fully developed and gave her what facts I have uncovered.

If the Republians “respond” to their constituents and refuse the bailout, it would be at least in part because, since they know we MUST do it, they will rely on the Democrats to override them. Thus, those furious with our financial institutions will think the Democrats are the sell-outs and all this just before the election.

As I write this, President Bush, for once standing on principle, is on TV, pushing for the bailout and withstanding the pressure from his own party to deny it.

Meanwhile, I receive E mails from the Obama campaign with updates. Here is one that explains what Obama is trying to do and urging us to weigh in with the link he provides.

***From Obama headquarters***

The era of greed and irresponsibility on Wall Street and in Washington has created a financial crisis as profound as any we have faced since the Great Depression.

Congress and the President are debating a bailout of our financial institutions with a price tag of $700 billion or more in taxpayer dollars. We cannot underestimate our responsibility in taking such an enormous step.

Whatever shape our recovery plan takes, it must be guided by core principles of fairness, balance, and responsibility to one another.

Please sign on to show your support for an economic recovery plan based on the following:

• No Golden Parachutes -- Taxpayer dollars should not be used to reward the irresponsible Wall Street executives who helmed this disaster.

• Main Street, Not Just Wall Street -- Any bailout plan must include a payback strategy for taxpayers who are footing the bill and aid to innocent homeowners who are facing foreclosure.

• Bipartisan Oversight -- The staggering amount of taxpayer money involved demands a bipartisan board to ensure accountability and oversight.

Show your support and encourage your friends and family to join you:

https://my.barackobama.com/ourplan

The failed economic policies and the same corrupt culture that led us into this mess will not help get us out of it. We need to get to work immediately on reforming the broken government -- and the broken politics -- that allowed this crisis to happen in the first place.

And we have to understand that a recovery package is just the beginning. We have a plan that will guarantee our long-term prosperity -- including tax cuts for 95 percent of families, an economic stimulus package that creates millions of new jobs and leads us towards energy independence, and health care that is affordable to every American.

It won't be easy. The kind of change we're looking for never is.

But if we work together and stand by these principles, we can get through this crisis and emerge a stronger nation.

Thank you,

Barack


***

P.S. In case any of you are still have fond memories of Reagan, it was his policy of trickle-down economics that started this slow but sure landslide to what is happening today.

xx, Teal