February 13, 2012
TO ALL RESPONSIBLE PARTIES
If you work for Wall Street, I know you will do nothing, but if you work for Main Street, for the enormous majority of THE PEOPLE that, like me, have suffered and are still suffering from the "crisis" provoked by the greed of the "too big to fail" banks ant the complicity of the 2 administrations and Congress, you will SUPPORT A STRONG "VOLCKER RULE".
The banks have been getting much bigger, and if they continue like this, they will be MUCH TOO BIG for you to LET THEM FAIL. STOP!!!! HALT THE SPECULATION!!!!! Don't let them continue gambling with our livelihoods.
IF YOU DON'T CHANGE THINGS NOW, THEN WHEN?
Maybe Wall street is doing better, but it certainly isn't trickling down, and the Image that the economy is doing better is not what we experience.
WE ARE OUTRAGED! WE'VE HAD ENOUGH!
Do your jobs: work FOR THE PEOPLE, NOT THE PROFITS
I'm writing in support of a strong "Volcker Rule." My family and I were affected by the economic collapse of 2008, and we don't want it to happen again.
We need you to write a final rule that accomplishes the fundamental goals of the law: separating risky proprietary trading from the traditional business functions of banking institutions, banning proprietary trading at "too big to fail" banks, reducing the risk that financial market gambles present to the safety of our whole financial system, and stopping conflicts of interest like those that saw Wall Street firms selling their customers deals they had designed to fail.
It is important to not let the rule be undermined by exemptions or exceptions. The Dodd Frank Act instructs you to make sure that the activities big banks are permitted to engage in do not create the risk of another financial crisis. Accomplishing this requires changes to current business practices on Wall Street. I urge you not to be swayed by financial industry interest in protecting a status quo that has benefited them and put the rest of us at risk.
It is also important that banks that break the rules should face real penalties for violations. Violations of the "Volcker Rule" will endanger the stability of our financial system. They should not be treated lightly.
Thank you for considering my views.