- The Washington Times - Friday, September 26, 2008

ANALYSIS/OPINION:

One taxpayer cannot make it happen, but maybe 500,000 to a million of us can if we contact the senators and representatives and protest the bailout of the financial institutions that have been swindling the nation for years at least since the early 1990s. The American taxpayer should not be forced to help these corrupt conglomerates and rich swindlers survive.

The government should require the return of funds gained through corruption and swindling. “We the People” should demand that political beneficiaries of contributions in the millions from these organizations return the funds to the donating organizations. While return of the money would be only a drop in the bucket, there should be consequences for the corrupt and crooked.

MILDRED M. FISCHER

Fredericksburg, Va.

•••

In his farewell speech to the American people, President Dwight D. Eisenhower warned the country of the corrosive potential of the military-industrial complex. Perhaps a new warning needs to be issued regarding the unsavory relationship between the mainstream media and the Democratic Party. As Tony Blankley points out, Democrats have nominated a presidential candidate who has largely gone unvetted only because the media is afraid of what it might find (“Media chronicles,” Op-Ed, Wednesday). Any pretense of media impartiality in this election has given way to an almost teenage infatuation with Sen. Barack Obama. The real danger from this corrupt nexus can be found amid the broken rubble of our financial system. The media has fixed blame for the financial meltdown on the anti-regulatory zeal of the Republican Party. Though Republicans certainly shoulder responsibility for this mess, little has been said about why bad loans were made in the first place. Carter- and Clinton-era policies pressured lenders to make risky loans to people who couldn’t afford to repay them.

In 2005, Sen. John McCain, along with three other Republicans, attempted to put constraints on this promiscuous lending behavior only to see Senate Democrats block their efforts. Does anyone really believe the media will shine the light on anything so devastating to Democrats just six weeks before an election? Not likely. Consequently, reforming Wall Street will remain elusive, and taxpayers will be left holding the bag as long as the pundits and scribes of the mainstream media abandon their adversarial role to serve as propagandists for the Democratic Party.

THOMAS M. BEATTIE

Mount Vernon

•••

Jack Kelly’s ” ‘Crony capitalism’ crackup” column (Commentary, Wednesday) clearly encapsulated the financial crisis imposed on us by corrupt financial institutions and their political enablers. Now we have the likes of Rep. Barney Frank, Massachusetts Democrat, who spread the virus causing our financial ills, casting blame elsewhere, especially toward Republicans. This is from someone who allowed a male prostitution ring to be run from his home. Mr. Frank’s usual calumny is particularly egregious because he must be thinking some may actually believe him. What an insult.

HAROLD B. WILBER

High Spring, Fla.

•••

International doubts about the underpinnings of the U.S. economy are justified because international currencies are pegged to the U.S. dollar, thanks to the Bretton Woods agreement, reached in the wake of World War II. International concerns as well as ours are compounded by the fact that the dollar is no longer backed up by gold and by the growing interconnectedness of global markets.

British Prime Minister Gordon Brown’s latest call for an international regulator to help oversee the situation is sensible in light of the enormity and complexity of the U.S. economic rescue effort and its impact on world markets. Only the U.S. government can decide how to allocate and recover U.S. taxpayer dollars, but this is no time to claim that America has all the answers. If we did, we wouldn’t be in this mess.

WILLIAM E. COOPER

President emeritus

University of Richmond

Richmond


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