This letter was posted on the Obama blog, but one change will be made after viewing the vice presidential debate. Sen. Joe Biden said he was going to go after the offshore tax havens. That's one half of our deficit problem. Passing the $700 billion bailout bill for free enterprise was a mistake. Here's what they should do.
Read the Business Week articles in the Oct. 6 issue and don't pass any $700 billion bailout until you let the FBI find out what's going on in more than 100 banks in this country. The FBI, along with the IRS, in a couple of months, should be able to tell our new president what's going on. This information should be given to the Government Accountability Office to compile everything and run things until new regulations are written, because if something isn't done in a positive direction this country is going broke.
I e-mailed about 40 people and told them they should read the article, "Are You Exposed to Credit Default Swaps?" by Ben Levisohn from the Sept. 25 Business Week online. In the Oct. 6 issue of Business Week, it is titled "What Credit Default Swaps Could Mean to You." In the same issue, in an article entitled "Murder on the Financial Express," Jack and Suzy Welch vividly described what took place in a chain reaction that could only be financed by a group of Washington lobbyists. Beautifully written, but their solution, I believe, would be different if you let the FBI look over the books of the investment bankers for a couple of months.
Another article in the same issue is "Facetime: Bill Clinton on the Banking Crisis, McCain and Hillary" by Maria Bartiromo, who did some excellent questioning. She asked him if getting rid of the Glass-Steagall Act, which separated the commercial banks from the investment banks, was a good idea. He thought it was a good ideam but we didn't get rid of it all together, he said. I believe he should have made the regulations stronger, not weaker. As for the question of whether, if McCain wins, Hillary would run four years from now, I think she should. She wants to tax the hedge fund dealers, particularly those headquartered offshore. The government desperately needs the money. It's going broke and we can't borrow from Social Security and foreign governments forever.
Read the Business Week articles in the Oct. 6 issue and don't pass any $700 billion bailout until you let the FBI find out what's going on in more than 100 banks in this country. The FBI, along with the IRS, in a couple of months, should be able to tell our new president what's going on. This information should be given to the Government Accountability Office to compile everything and run things until new regulations are written, because if something isn't done in a positive direction this country is going broke.
I e-mailed about 40 people and told them they should read the article, "Are You Exposed to Credit Default Swaps?" by Ben Levisohn from the Sept. 25 Business Week online. In the Oct. 6 issue of Business Week, it is titled "What Credit Default Swaps Could Mean to You." In the same issue, in an article entitled "Murder on the Financial Express," Jack and Suzy Welch vividly described what took place in a chain reaction that could only be financed by a group of Washington lobbyists. Beautifully written, but their solution, I believe, would be different if you let the FBI look over the books of the investment bankers for a couple of months.
Another article in the same issue is "Facetime: Bill Clinton on the Banking Crisis, McCain and Hillary" by Maria Bartiromo, who did some excellent questioning. She asked him if getting rid of the Glass-Steagall Act, which separated the commercial banks from the investment banks, was a good idea. He thought it was a good ideam but we didn't get rid of it all together, he said. I believe he should have made the regulations stronger, not weaker. As for the question of whether, if McCain wins, Hillary would run four years from now, I think she should. She wants to tax the hedge fund dealers, particularly those headquartered offshore. The government desperately needs the money. It's going broke and we can't borrow from Social Security and foreign governments forever.
