July 16, 2008
To Whom It May Concern:
The media news is so superficial compared to the despicable fraudulent things going on in the market place. When I see a man on TV who has saved for his children and his grandchildren and he has $226,000 dollars in the bank. He is allowed 100,000 because of FDIC insurance. He is going to get 50 cents on the dollar. He will lose $68,000. I feel very sad for all the people who are losing their hard earned money because they trust a bank. They trust the government. They trust the market place. I have money in short term treasury bills. They are back not by FDIC SPIC but by the government. What is the government but the taxpayers.
Everything is related, subprime, derivatives naked short selling. People who know the system, are using it to make enormous amounts of money and everyone is getting hurt. The country cannot last with that kind of fraud. Where is the compassion for people. They do not see the large picture. They use the system. They do not have to pay taxes. Some small companies and mid size companies go out of business so that these very rich people who understand the system can avoid paying taxes.This must become known.
Sincerelyl,
Elise Karem