To the Editor:
From Athena Louise:
PNC is being given $7+ billion and using it to buy Nations Bank for $5+ billion. Obviously that company does not need the money if it can be used to buy out a bank.
Washington is being over run with lobbyists asking for handouts for the auto industry, the insurance industry, etc.
When is it going to stop? When are the people losing their homes going to get a break? The insurance industry sure as heck does not need government funding. If the automobile industry had not socked their profits into petro chemical stocks (oil companies) then they would have made fuel efficient cars years ago. Stock value was more important, and now the taxpayer is supposed to give them a free handout? Why not take the ridiculous salaries and bonuses given to top management and reinvest back into the company?
AIG was given billions and the first thing they did with the money was to have a lavish party for top executives. Why the government gave money to a company whose former CEO and others were found guilty of fraud in February I cannot understand.
It may be naive of me, but why give taxpayer money to foreign investors because of stock depreciation, and not help taxpayers whose pension funds or retirement accounts have vanished because of mismanagement by Wall Street.
Are we walking around with a sign on our foreheads saying ‘sucker’? Is this the final blow this Administration will deliver to make sure the United States of America goes bankrupt?
No country could have defeated us militarily, but this Administration did it from within. I am waiting for Cheney, Rove and company to give up their citizenship and move to Dubai, where there is no extradition. I would be greatly surprised if they have not already transferred all their assets to off shore accounts.
So, now it is up to Congress. Will our representatives do what is right for Americans or what is right for the lobbyists who contribute greatly to their election campaigns. After all, the definition of an American Politician is someone who goes into public office for private gain.
It is time for Congress to do what they were elected for, to stand up for American Citizens, not giant corporations. Because, if they do not, then our great great grandchildren will still be shouldering the debt they are forcing down our throats.