Congressman Zach Wamp of the 3rd District of Tennessee recently sent out a letter to his constituents about his dissatisfaction with the lack of oversight in the recent Trouble Asset Relief Program (TARP) known more commonly to many as the “$700 billion bailout.” The letter follows:

The three major US automakers are now asking for an economic bailout. Unlike the airline industry which has declared bankruptcy in the past, automakers face a larger backlash from consumers as the stigma of bankruptcy can cause massive lose of confidence in support, maintenance and warranties of the products. Foreign automakers, although suffering from the current economic conditions, are still staying afloat in a world which GM, Ford and Chrysler did not prepare for.