PublishaLetter Blog

AIG. For sheer drama nothing can top them. Just when you think, you have seen it all and heard it all, come new revelations. Even more dramatic than before. In the meanwhile the rage of the public is palpable. The scathing letters, which initially targeted the AIG executives are now questioning the politicians who allowed it all to happen under their watch. Frank, Schumar and Dodd. Especially Dodd. Here is a typical letter that came to our site:

Amid the fuss over AIG bonuses is lost that Barney Frank, Chuck Schumer and others accept NO responsibility for their insistence on loans to non-credit-worthy mortgage applicants. Their current hysteria over less than 1% of the billions in bailouts is hypocritical. They are the persons who should be resigning in disgrace.  And whatever happened to the ethics investigation of Chris Dodd over his sweetheart loan from Countrywide Mortgage?  Swept under the rug!

People are skeptical about the stimulus package. And they are concerned. What are they concerned about? Judging by the letters received, they are concerned that it is more a political package than a true bailout package. They don’t think that the politicians read the bill since they were busy spinning their political views. They are very concerned about Fairness. Why are the big businesses (read banks) being bailed out when their executives are not making many sacrifices or are slow to learn their lessons.

The Fairness issue, according to the writers, is especially troublesome in the housing bailout plan. Why are people, many of whom were irresponsible, being bailed out? What about the responsible people that made many sacrifices to stay current with their payments? In a carefully crafted letter, a writer asks - What about the renters (who stayed renters because they were fiscally responsible) who have seen their 401K melt down? Where is the bailout for them?