Wednesday, June 10, 2009

Big Money Bank Sponges

An open letter to President Obama...

Dear Mr. President...

I'm very worried about what I read about the banking system and it's recovery. Please set in place modern, air tight as can be regulations, so we don't have to suffer this kind of problem again. I know that we had banking problems every few years until FDR put in tough regulations and then Phil Gramm and others ripped them up and we've ended up with banks that are too big to fail because they not just banks any more - they have to get back to normal business and spin off those high risk parts of the company, so they can fail if they make the wrong decisions and us taxpayers don't have to bail them out.

Don't let the big money sponges deter you from making the correct decisions.

Thanks and keep up the good work. I know it's going to pay off.

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