Tuesday, February 10, 2009

Congressman Meeks, Re: Liquidity Facilities for States and Municipalities from the Federal Reserve

Feb. 10th, 2009.

In response to the topics before House of Representatives Financial Services Committee meeting today with Federal Reserve Chairman Bernanke.

Congressman Gregory Meeks [6th District of New York],
While your questions that you posed today to Fed Chairman Bernanke for the Fed to provide “liquidity facilities to states and municipalities” to help those local governments with the current economic difficulties experienced by all is very commendable, please don’t entice the Fed to buy, or the local politicians to sell, more of our birthrights as Americans. Whether such applies to you or not, many of us are well aware of Congress’ propensity to continually and repeatedly sell our birthrights as Americans to the Federal Reserve System. Please don’t allow for the states and municipalities to also sell whatever birthrights we may still enjoy as residents/citizens of our respective states, cities, and townships across the nation. Because we are all aware, the Fed will not likely put forth any such requested funding or liquidity sources to states and municipalities of our nation without expecting some beneficial return for so doing - or such appears by that System's history. If I am not totally clear as to my wording concerning the repeated selling of our American birthright, please contact me so that I may further explain my choice of wording.