Subject:
Banks must follow GAAP
To:
Sen. Tom Harkin
November 6, 2009
What the hell are the banks thinking??!!! They have screwed us over once already. My 60 year old wife with a masters degree and a exemplary 25 year career has lost her job ( because of the economy) the banks messed up with CDS, their derivatives and their securitized bad mortgages and now they want to not follow GAAP??!! They want to fudge the numbers or use their own accounting, so in the future people don't see that they have screwed up?? This is a crazy house!! How can anyone trust our economy if we allow this??!! I can't believe the hubris. Break up the banks and if they fail they fail. Break them up and give the current share holders stock in each of the smaller entities. But no more too big to fail. No more sleazy banking practices that steal our 401Ks and our lives. I figure we have lost over $300,000 to $500,000 dollars that we won't get back. Let the theiving bastards burn in hell. My wife and I have worked hard all our lives. We got educated and developed careers, paid our taxes and became the part of the upper middle class. Then the banks screwed the whole country. It isn't taxes that are the problem. It is the unethical immoral business people and CEO's. Trickel down is bull <profanity removed>. They have raped and pillaged the middle class. We need a French Revolution. Are you my representative or are you one of the aristocrats? Do you support the people or the banks on Wall Street. GAAP must stay for everyone. No changes . . ever.
According to "Executive Excess 2000," CEO pay jumped 535 percent in the 1990s, dwarfing the 297% rise in the S&P 500, 116 percent rise in corporate profits and 32 percent increase in average worker pay. If average pay for production workers had grown at the same rate, instead of barely outpacing inflation, their 1999 annual earnings would have been $114,035 instead of $23,753, and minimum wage would now be $24.13 an hour, instead of $5.15.
The people of this country have been robbed. And the robber is greed. Regulation.. regulation . . regulation.
Pleasant Hill , IA
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