I Need Some Help on This.
In mid-September 2008, Lehman Brothers declared bankruptcy. In
the ensuing economic collapse, the greedy underbelly of our American banking
system was exposed for what it was, a tremendous crap-shoot involving credit-default
swaps and their ilk purchased by the investments of unknowing regular bank
customers. Successful swaps guaranteed banks and their wealthy owner-investors
millions upon millions dollars of minimally taxed profits with none of the gains
passed on to those whose money was used for those purchases. On the other hand, massive losses resulting
from ill-advised and shady deals using bank customers money were covered by tax
dollars bailouts paid by average Joe Citizens, i.e., the economic equivalent of
the rectal hydration tactics employed by the CIA (as recently reported), administered
to us not just once, but twice.
The above is all background information for my plea for your
help for the following reasons. The bipartisan funding bill that just passed Congress
sets aside the protections established to separate regular banking activities
from risky speculation to prevent the 2008 scenario from recurring. In other
words, once the bill is signed, banks will be free to use your money (and mine)
to gamble recklessly again.
What follows is a form letter I am sending to the banks
where I keep my accounts.
Dear Bank,
It is my understanding that the recent funding bill passed
by Congress includes a rider allowing the banking industry to mingle activities
of regular banking activities with risky speculation efforts such as using
regular bank investments in the purchase of credit default swaps. As a result,
as a regular banking customer of yours, I have several questions for you; Are
you going to use monies obtained from normal banking procedures for the purpose
of engaging in such risky financial ventures? If you do engage in risky
speculative efforts with my money, are you planning on sharing any profits
realized from those investments with me? If you lose money on any risky speculative ventures, do you
expect the American taxpayers to restore any lost funds to you with tax money? I
would like responses to these questions as promptly as possible so that I may restructure
my current financial assets in a manner that protects me and my family from a
situation similar to the 2008 crash of the economy.
Very
truly yours,
A
Bank Customer
So this is what I need help on; I think that if the banks of
America receive only one such letter, it will be laughed off as simply coming
from a miserable old crank. However, if we all band together and submit one
million or more such letters, the banks may take the hint that the public is
not as stupid as they think we are. So help me and help yourself. Write letters
to every bank you do any kind of normal banking business with and request information
on their intentions with your money. Feel free to use the form letter above.
Just saying . . .
