Last November, I wrote my Senator to complain about the Bailouts. I told him that Bush bailed out the airline industry after 911 and they went bankrupt anyway. I asked him to please not vote for the bailout of the auto industry.
Here's the letter I received back from him:

Laurie,

Thank you for contacting me regarding the U.S. economy. I am glad to have the benefit of your views on this important issue.



I share your serious concerns about the problems that have led to the uncertainty and volatility in our financial markets. Congress recently approved a $700 billion bailout package that did not address the root cause of the ongoing market turmoil. This was one of the reasons I voted against the bailout bill. I also had concerns that since the bill was so hastily drafted, it would lack the necessary oversight. In early October, Secretary Paulson said he would use the funds in the bailout to purchase troubled housing-related assets. I am dismayed that the Treasury Secretary has decided not to purchase these assets. Instead, this program has evolved into purchasing bank stock and providing support for companies that provide credit cards and auto and student loans. These efforts do not address the mortgage crisis.



In addition to this misguided program, Senator Majority Leader Harry Reid announced plans for the Senate to consider a $25 billion bailout bill for General Motors, Ford, and Chrysler. Over the last several years, the economy has shifted the geographic center of the automobile industry from Rust Belt states like Michigan to Southern states, including Mississippi. Although there are many factors that have led to this geographic change, one of the most important is the business-friendly climate created by low taxes and limited union control in labor negotiations. While I am concerned when any major industry in the United States falters, I do not believe that taxpayer-funded bailouts are the way to address the underlying business-model problems that plague this industry. Last year, Congress authorized low-interest loans for auto manufacturers to help mitigate against this type of problem. These loans were funded in October. I believe we should provide time for a combination of loans and our bankruptcy system to work before we intervene in such an extreme way.



Be assured I will work to ensure that the federal government takes meaningful and well-thought-out steps to address the ongoing economic problems facing our nation. Please do not hesitate to contact me if I can ever assist you.



With best wishes, I am



Sincerely Yours,

Roger F.Wicker
U.S. Senate