Millions of newly poor Americans, their jobs gone, savings exhausted, wonder how they’re going to pay their bills and save homes.
The chief perpetrators of this tragedy are a small group of financial “wizards” who shipped whole industries overseas, made reckless, foolish bets with money that was not theirs, collected obscene bonuses and have since retired with their fortunes to palatial estates.
The companies left behind had to be bailed out by TARP 1 and TARP 2, funded by the taxpaying public. Not content with this, these companies have since raised their interest rates, yet another burden to be shouldered by all of us.
In effect, our system now rewards the criminals and punishes the victims. Until this problem is fixed, our tragedy will continue.
Albert M. Carter
Greensboro
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