Stop what you're doing and take one minute to sign the Taxpayers Against a Wall Street and Mortgage Bailout online petition

8,200 signatures so far today. Come on folks - and fellow bubble bloggers - let's get that to 80,000

Sign here. It's easy.

To: President Bush, Senator Hillary Clinton, Senator Christopher Dodd, Senator Charles Schumer and members of Congress

Please do not support the efforts to bail out mortgage holders and mortgage lenders with my tax dollars.

As a responsible citizen, I do not believe it is right for you to ask me to pay for other peoples’ financial excesses, especially since a bailout encourages lenders to continue making predatory loans, with the assumption that taxpayers are on the hook. Further, we believe that the liability of the mortgage mess should NOT be shifted to GSE’s Freddie and Fannie.

I appreciate the goal of helping people to have access to housing, but any proposed bailout will only reward lenders and borrowers who acted irresponsibly, and it will punish people who work hard and diligently manage their finances by not buying houses which they cannot afford.

The housing market has begun a process of correction. This is necessary in order to keep housing affordable in the long-term. Let the market correct so we can achieve stability again, and people are able to save and afford the house of their dreams over time. That really is the true American Dream.

Sincerely,

The Undersigned

HP'er Seth Jayson at Motley Fool has a message for Wall-Street-Insider Hank Paulson and the monkeys running our government today

Here's Seth. Couldn't have said it better myself..

Answer us this, Mr. Paulson. How do you propose to encourage liquid lending markets while simultaneously relieving overstretched homebuyers of their contractual obligations to the (regrettably) lousy ARMs they took out in order to buy those overpriced McMansions?

Someone's gotta pay. And if it's not going to be the debtors leaving the homes, and if it's not going to be Hank's buddies on Wall Street, who does that leave?

Us. The responsible majority of Americans. Remember us? The people who didn't go out and do stupid things with our money?

Naw, of course not. We're not the ones making all the noise.

HousingPANIC calls for Ben Bernanke to take back his misguided 1/2 point rate cut immediately. Failing that HP calls for his resignation.

Helicopter Ben panicked a couple of weeks ago (or kissed the ring of his REIC and banking masters) and destroyed the US dollar, using the Jobs Report which showed a 4,000 job loss for the month as cover.

Well, that jobs report for August just got revised to an INCREASE of 89,000 jobs. With an additional 110,000 jobs supposedly added to the payrolls last month.

Meanwhile, inflation is now roaring, gold and commodities are at or near all-time highs, oil is at an all-time high, the dollar is at an all-time low, the Dow is at an all-time high, and consumer confidence is increasing.

In other words - it's time to RAISE RATES, dramatically if necessary, not time to be LOWERING THE DAMN RATE.

If they were doing their job of maintaining a stable currency and avoiding inflation, they'd take the 1/2 point cut back IMMEDIATELY, and raise 1/4. But if they're out to screw America (except for the rich), watch the corrupt bastards cut again.

I think we all know which way Helicopter Ben is leaning.

Therefore, because of his incompetence and/or corruption, because he won't admit his error and take back his 1/2 point cut, because his actions have led to the further destruction of the US dollar, because he cut based on a report he knew was faulty, and because he cut when inflation was raging and the markets were near all-time highs, HousingPANIC calls for his immediate resignation.

Failing that HP calls for Congress to open an investigation into his actions, leading to his possible dismissal.

The 1/2 point rate cut of two weeks ago will go down as the most shameful day in US Federal Reserve Banking history. And let's see if they compound the error at the end of this month.