General Memo 577


Contact your U.S. Representative to Support the Economic Stabilization Act

October 2, 2008

Please share this information with your members

The Senate has passed the Emergency Economic Stabilization Act. IMRF is pleased that the Senate has acted to begin the process of stabilizing the markets.

I can understand your anger about our current economic situation; American taxpayers are being asked to “clean up” a financial crisis they did not create. I also recognize that the bill the Senate passed is not perfect. However, for more than 65 years, IMRF has taken a long-term perspective to protect our members’ retirements. That perspective has allowed IMRF to grow and succeed.

Regardless of your feelings about and the imperfections of the Economic Stabilization Act, I ask you to adopt a long-term view of Congress’ current efforts to restore order and liquidity to our markets.

It is important to not let our current frustration obscure the importance of Congress’ efforts to protect our financial infrastructure.

The U.S. House is expected to vote on the Act on Friday, October 3, 2008. It is essential that the House pass the Emergency Economic Stabilization Act. If it does not, I fear we will again see another severe drop in the markets. This is a risk none of us can afford.

I ask you to contact your U.S. Representative and ask him or her to vote “yes” on the Emergency Economic Stabilization Act.

If you don’t know who your Representative is, you can find his or her name, address, and phone number at the Illinois Board of Elections website:
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