LETTERS

Multinational Monitor, May/Jun 2009 by Self, William A

To the Editor:

While I wish our leaders the best in getting our credit industry back on track, I am worried and outraged. On top of despising the billions of dollars worth of bonuses paid out by failed institutions which were bailed out by taxpayer money, I am angry that our justice system has not gone after the fraud of so many undocumented loans being resold with AAA ratings. I think the individuals responsible should have their personal assets attached. I am angry at the rich owner culture and it's army of lobbyists, lawyers and media mouthpieces which have essentially produced an era of no accountability.

We especially need a reversal of the political policy that has supported merger after merger of already giant corporations. The common person will continue to be vulnerable as long as private banking institutions remain "too big to fail." Obama and our new Congress will represent real change when we hear about busting up banking institutions that have become too big to fail. I strongly believe our Constitutional form of democracy is on the line. Our government and tax dollars should never be held hostage again by get-rich-quick banker schemes. Real change would protect both our economy and democracy.

- William A. Self

Redwood Valley, CA