December 28, 2008 in City

Bailout raises questions

The Spokesman-Review
 

I am outraged at what seems to be happening, and I have a few questions for our elected U.S. senators and representatives, who, supposedly, represent us, the people.

1. How can you allow the top executives of the financial institutions being “bailed out” to receive $1.6 billion?

2. How can you permit investors in those institutions to receive about $175 billion in bailout funds?

3. How can you let those financial institutions keep their corporate jets and other perks?

4. How can you justify the “bailout” of the auto industry when most economists believed that Chapter 11 bankruptcy was the way to go, which would have allowed a court to renegotiate all contracts as the airlines had to do a few years ago?

5. How can you defend your pension and medical plan which go far beyond Social Security and Medicare?

Please respond soon. My wife and I are old, on a pension, Social Security and Medicare, and nobody is bailing us out of the increase in expenses and the decline in buying power of our meager resources.

Millions of others across the country are like us.

William Mahaney

Spokane


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