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Now it’s Citibank going down the toilet? Every day seems to bring another financial disaster (“Citi of Fools,” Nov. 25).
There’s only one solution: All our senators, congressmen and CEOs of major banks should submit yearly to truth-serum and lie-detector tests.
Once these procedures are implemented, there will most surely be a mass exodus of politicians getting out of Washington as fast as they can.
Does anyone have a better idea how to get some honest people to run our country?
Salvatore Pedi
Eastchester
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Can someone tell me why it took hundreds of forms to just borrow a few hundred dollars from the likes of Citigroup and Chase banks, not to mention to get a mortgage? Most of the time we were denied anyway.
Now these lenders come to the people’s bank with only two forms and they get billions. You gotta love it.
Jose Romero
Allentown, Pa.
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Perhaps if Citibank did not finance a sports stadium, Citi Field, playing games with investor’s money, they wouldn’t have struck out.
Contrary to its slogan, “The Citi never sleeps,” Citibank slept on the job while Rome burned.
Susan Marie Davniero
Lindenhurst
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The notion on the right that greedy bankers in cahoots with liberals in Congress were the culprits that led to our financial crisis is totally bogus.
Our credit system was destroyed by two factors: large deficits and a lack of confidence in the system. Both can be unequivocally blamed on President Bush.
Not only did he mortgage the future but, by not raising taxes to pay for the war, he has left us vulnerable in all sorts of ways – a crumbling infrastructure, dependence on foreign oil, an aging population, etc.
While free enterprise is the only way out, we may have to curtail it somewhat to shoulder the load collectively.
Whether you are on the right, on the left or in the middle, I would be rooting for President-elect Obama.
Ken Drexler
North Woodmere
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Once again, the Democrats are heavily involved in the cause of the economic meltdown, and the American taxpayer will have to pay for it.
Just as Democrats, Rep. Barney Frank and Sen. Chris Dodd are responsible for the start of this costly debacle, Clinton Treasury Secretary and Obama economic adviser Robert Rubin dared to take millions, while destroying Citigroup and adding more debt to all of us.
The utter hypocrisy and sheer lunacy of having Democrats investigating the “cause” and attempting to “solve” the crises boggles the mind.
Why do the American people keep electing these fools into office?
D. Diana
Greeley, Pa.
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Why can’t the government issue shares to the taxpayers for the companies we are bailing out? It’s our dime.
And why can’t the companies in the bailout refund money to the taxpayers once they are fiscally sound? Or at least allow us to buy more shares?
If the government can spend $7.2 trillion to bail out our financial system, why can’t it create a 401(K) global fund and refund money to taxpaying citizens so they don’t lose out?
If Citigroup can pay a special director $102 million, if auto executives can spend $20,000 on a flight and if Wall Street, through its fiscal negligence, can turn to the government, then why can’t we?
George Medina
Manhattan
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We need not wait for the Obama-nation to take hold to begin our march to socialism. It is here already.
Our government is purchasing equity stakes in private companies. Next week the auto companies will be back with cup in hand, and our fearless leaders will offer a bailout, not with “strings attached,” but with chains attached.
We are in the pot and the heat is being turned up. Will we jump out or sit comfortably numb in the warmth till we are cooked?
Anthony Varriano
Staten Island