The Sherrill Family Blog

3/21/2009

The Association of the Sons of Liberty of the USA

&

The New American Tea Party

It is essential to the freedom and security of a free people, that no taxes be imposed upon them but by their own consent, or their representatives. And yet, to the astonishment of the entire world, and the grief of citizens of United States of America, the Representatives of no one but themselves in Washington D.C assumed the power of imposing trillions of dollars of debt on the backs of American citizens; and insisting on it as a necessary badge of their supremacy, passed two “bailout” bills. The first being in the eighth year of his presidency’s reign, George Walker Bush and the second bill passed in the first year of his Presidency’s reign Barack Hussein Obama II. These two acts have imposed an unfathomable amount of debt on our children and grandchildren. These two bills, after the concurrence of the US Legislature, obtained Presidential assent. And thus they, by the bailouts in question, deny us, the citizens of the United States of America, the enjoyment of our God given & Constitutional confirmed rights. As this denial, and the execution of the bailouts, involves our slavery, and would sap the foundation of our freedom, whereby we should become slaves to our own Federal government. We, the citizens of the United States of America, must enter into an agreement to decline any commerce with AIG or any other establishment propped up by this extortion money, until the above mentioned “Bailout” bills should be totally repealed. May this boycott operate so powerfully as to prove that it is disadvantageous to companies that accept the money from our government. The distress brought on by the American International Group (AIG) and the ill policies of Washington.

Despite the objections of the people they are supposed to represent, our government is still determined on their scheme, they have chartered into dangerous waters with the aim of keeping ill-ran establishments such as AIG a float. If they succeed, we shall have no property that we can call our own, and then we may bid adieu to American liberty. Therefore, to prevent a calamity which, of all others, is the most to be dreaded-slavery and its terrible concomitants-we, the subscribers, being influenced from a regard to liberty, and disposed to use all lawful endeavors in our power, to defeat the pernicious project, and to transmit to our posterity those blessings of freedom which our ancestors have handed down to us; and to contribute to the support of the common sense and common liberties of America, which are in danger to be subverted, do, for those important purposes, agree to associate together, under the name and style of the Sons & Daughters of Liberty as The New American Tea Party, and engage our honor to, and with each other faithfully to observe and perform the following resolutions, viz.

1st. Resolved, that whoever shall aid or abet, or in any manner assist, in the introduction of ill-ran establishments such as AIG from any place whatsoever in this nation, while it is subject to a Federal bailout, he shall be deemed an enemy to the liberties of America.

2d. Resolved, that whoever shall be aiding, or assisting, in the landing, or carting of such products, from any ship, or vessel, or shall hire any house, storehouse, or cellar or any place whatsoever, to deposit the Federally propped products, subject to bailout money as aforesaid, he shall be deemed an enemy to the liberties of America.

3d. Resolved, that whoever shall sell, or buy, or in any manner contribute to the sale, or purchase of products, supported by this Bailout money as aforesaid, or shall aid, or abet, in transporting such products, by land or water, from this nation, until the bailout money, commonly called stimulus packages, shall be totally and clearly repealed, he shall be deemed an enemy to the liberties of America.

4th. Resolved, that whether the debt incurred by these bailout bills, are paid by us or by our grandchildren, our liberties are affected.

5th. Resolved, that whoever shall transgress any of these resolutions, we will not deal with, or employ, or have any connection with him.

*A 2009 homage to the “The Association of the Sons of Liberty of New York”, December 15, 1773

10/14/2008

Dear Mr. Sherrill:

Thank you for contacting me regarding the turmoil in the financial markets and federal government’s response to it. I appreciate hearing from you, and I welcome the chance to respond.

The situation in the credit markets is dire, and that has left us with some tough choices. We have seen a series of financial institutions fail and that brought us to a crisis point where lending all but stopped. Problems spread beyond investment banks and Wall Street trading firms. Retirement funds and even some money market accounts, which are supposed to be safe places for savings, have been threatened. Meanwhile, interest rates for the short term financing that businesses rely on to make payroll rose to levels that they could barely afford. Many have found that they could not get financing at all, and some small businesses in Missouri have shut their doors as a result.

Missourians are right to be angry about this situation. Financial firms packaged risky subprime loans into securities which they said were as safe as government bonds, and investors made reckless bets on these new products. The new products were so complex that, when they started to go bad, no one knew which securities were affected and to what extent. What’s more, some firms had borrowed huge amounts of money to buy these products, which put their creditors on the hook as well. Confidence dropped to zero throughout the whole market. The federal government was asleep at the wheel during all of this. Regulation was inadequate and oversight was nonexistent.

I do not like how we got here, and I do not like what we have to do to get out. It stinks that the American people are now being asked to post $700 billion to clean up this mess. It all stinks to high heaven. But doing nothing would be much worse. While many Missourians have not felt it yet, the credit crisis has already caused some farmers and small businesses to lose the lines of credit they rely on to function day to day. Many city and state governments have been unable to find financing for important projects, such as sewer projects and hospital improvements. With no action, even Missourians with good credit might not be able to get a home loan, a student loan, an auto loan or a loan to expand their small business.

Still, I took no pleasure in voting for the Emergency Economic Stabilization Act, but I did so because the credit crisis poses a very real threat to the economic security of all Americans. This bill will attempt to address the credit crisis in a systemic way and get credit flowing again. The bill will allow the Treasury to purchase up to $700 billion in distressed assets, such as mortgage backed securities. The Treasury hopes that this will restore confidence and free up lending by removing some of these distressed assets from the banks’ balance sheets and replacing them with capital. The Treasury also hopes to recover the $700 billion through the sale of these assets and possibly return a profit to the American people.

Like many Americans, I have my doubts about this plan. However, I was pleased that Congress inserted many provisions designed to protect the taxpayer and ensure oversight of the program. The bill places strict reporting and disclosure requirements on the Treasury. It requires the companies that participate in the program to give the government equity shares, allowing the taxpayer to benefit if the company recovers and its stock price goes up. It puts limits on compensation paid to CEO’s at participating companies and there are provisions to work with homeowners to restructure loans and keep them in their homes to the greatest extent possible. While it is far from perfect, it is much better than the blank check the Secretary of the Treasury initially proposed.

I know this plan will not be a silver bullet. We will need to do a lot more to get our economy back on track, including investing in education, job training, and renewable energy. We also need to get to work to establish strong, common sense rules and regulations to undo the damage of the last decade of deregulation that turned our financial markets into the world’s largest casino. As your Senator, I will be pushing hard to address all of these issues.

Thank you again for contacting me. I hope you will continue to reach out in the future with your thoughts and advice.

All best,
Senator Claire McCaskill

10/09/2008

Dear Mr. Sherrill:

Thank you for contacting me regarding the state of our nation’s economy and the dire situation facing some of our largest financial institutions. I appreciate knowing your views.

This unprecedented financial crisis requires strong leadership, prompt response and sensible action in order to restore a sound foundation to financial markets, get our economy on its feet, and eliminate this burden on hardworking middle-class Americans. That is why I commend lawmakers for coming together and passing the economic rescue bill. I’m glad I was able to help bring my colleagues in the House of Representatives to the table.

This package provides for oversight and transparency to ensure that we are good stewards of the taxpayer’s money and I believe that the taxpayer protections that were added have improved the bill. It will generate real relief to tight conditions in credit markets and includes measures that provide accountability on the part of those assisted in exchange for government financial assistance.

This rescue plan is not perfect, and it is an outrage that it’s even necessary. But we must stop the damage to our economy done by corrupt and incompetent practices on Wall Street and in Washington. The action Congress recently took is a tourniquet, not a permanent solution. Our economy is still hurting and further action is needed, and it should not take a crisis to get this Congress to act.

Clearly, we have much work ahead of us and the American public is counting on us to fulfill the jobs that they sent us here to do. We need to work together to institute sound policies that will stimulate and strengthen our economy and promote our nation’s long-term economic growth.

Again, thank you for sharing your thoughts on this very important matter. Please feel free to contact me on this or any other issue of concern.

Sincerely,


John McCain
United States Senator

JM/dkr

9/27/2008

I do not approve of our Federal Government spending 700 billion dollars on a bail out of the banking industry.  I believe Dave Ramsey has come across a reasonable compromise.  The recommendation is this:  Let’s temporarily change the mark-to-market accounting law and then extend insurance to cover this; I would expect that would only cost the taxpayers about 35 billion which will only cost us 5% of what currently is proposed.  To me spending 35 billion is a compromise because I would be happier if we did nothing to bail out these ill ran companies.  I didn’t get any bail out money 2 years ago when I had to close my business? The Federal Govt should not be buying this debt and should not be making loans!  If my representatives decide to extend loans I will make it my mission to see that each and everyone of them is voted out of office!   I am working very hard here at home and living on a budget so that I will never be put in a position that I have to borrow money from anyone ever again and I don’t want my government doing it either! Last thing our country needs is to add another trillion to our National Debt!  I can’t help but suspect that my representatives somehow have their pockets in this. I am angry as hell about how this is being handled and I will do something about it! Trust me.
Sincerely,
Dustin Sherrill
Nixa,MO,USA