Yesterday, ATR and CFA sent a letter in support of Senator Thune’s “Government Ownership Exit Plan Act of 2009” (S. 1242).
The bill requires the Treasury Department to sell all ownership stakes of private entities by July 1, 2010 (unless there is a reasonable expectation the assets will appreciate in value) and prevents the Treasury from purchasing additional ownership stakes through the Troubled Assets Relief Program.
From our letter:
James Madison once said “Since the general civilization of mankind, I believe there are more instances of the abridgment of freedoms of the people by gradual and silent encroachment of those in power than by violent and sudden usurpations.” In the wake of a series of government interventions into the free markets, taxpayers have been forced to witness the “gradual and silent encroachment” Madison warned of. It is time for an exit strategy.The Government Ownership Exit Plan Act provides such an exit strategy (…)
For a pdf version of our letter in its entirety, click here.