Please, please write your senators and house representative. Tell them to oppose this unconstitutional, immoral, and impractical piece of garbage. Do it today before it’s too late.

Maybe government action is necessary to prop up our failing financial system, but not this plan. Here’s the most concise and accurate and concise list of flaws I’ve seen yet. It starts with the complete lack of accountability for either the people who got us into the mess or their very good friends on the other side of the Treasury/GoldmanSachs revolving door who would use taxpayer dollars to bail them out, and ends with the fact that it simply won’t work. The banks and brokers have a capital crisis? Well, let’s loan them some money in return for equity just like any private savior would do under similar circumstances. That way, when they recover, we get our money back. As it currently stands, the Paulson Plan is just the most blatant effort yet to make all risks public while all profits remain private, and to shield the entire unholy partnership from any kind of legislative or judicial review. There’s nothing “clean” about using fear to turn a national crisis into a personal opportunity, Mr. Paulson. If you do pull it off, you’d better hope the citizens whose trust you abused prefer the guillotine to the gallows.

Barney Frank’s proposal is barely any better. Chris Dodd’s proposal, while not perfect, addresses most of the major flaws and is the one most worthy of our support. Again, please let the people who supposedly represent you in Washington know that your eyes are open and you won’t stand for having our constitution shredded.