April 8, 2009
If we, as a nation, are going to “win” back the economy and place it on a regulated playing field for all players, then we must step up to the fact that radical changes must be implemented and the causes and persons who enabled the economic disaster need be removed from any position of influence or authority.
These measures must absolutely cross partisan political lines. Republicans, Democrats and independents are at fault here. Responsible individuals need be penalized and removed. Period.
When there is a major airline catastrophe in the form of an airliner crash, that crash is investigated right down to the rivets and bolts of that aircraft. The reason for such detailed investigation is to prevent the same issue or element from causing another crash in the future. So it must be with our economic and political disaster(s) of the past eight years. Prosecute them to the fullest extent allowed by law to find the guilty — and assign blame and punishment across the board, without regard for any other circumstance.
We must look backward, in order to gain pertinent information which will allow the making of informed and proper decisions for our future. The current banking and credit industries need to be investigated for fraud and deceit, and the practices and policies such fraud and deceit rendered.
If the chairman of General Motors is required to “step down,” then most certainly the heads of every major banking group must be required to follow suit.
This isn’t partisan in its scope. It is a requirement of removal of failed, fraudulent persons, fraudulent policies and fraudulent procedures wherever within the banking industry they have occurred, and a righting of the financial abuse of the American taxpayer.
Retired administrative director