Valley congressman: Phone calls running 300 to 2 against bailout

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Democratic Congressman Brad Sherman, who represents the San Fernando Valley, just told CNBC that phone calls to his office are running ‘300 to 2’ against the $700 billion bailout plan.

Interpreting the twisted political ways of Washington, Sherman said the plan is so unpopular that the only way it will pass is if Congress pushes it through this weekend -- before members return to their districts and realize how hated the bailout is.

CNBC reports Sherman favors a ‘bailout lite’ plan, with only $200 billion allocated for purchasing distressed assets, and with provisions for aid to homeowners.

If you’re interested in contacting your representatives in Congress, click here for contact information on the entire California delegation.

-- Peter Viles

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Photo Credit: www.bradsherman.house.gov