Two steps for battling big banks
Have you had enough of banks that are too big to fail? I have. Here is my economic two-step.
First, move all my FDIC-insured deposits from the big bank to a local FDIC-insured bank, one that operates in my community. This promotes local business loans at the same time that the big bank is deprived of using my deposits to buy Congress. If enough of us do this, the shameless bonuses will cease and those charlatans of Wall Street can meet competition.
Second, remind my senators and representatives that the Sherman Antitrust Act has not been repealed. Antitrust laws prevent “too big to fail” because they prevent “too big.” Just because this pro-consumer legislation is old does not mean it should not be used.
Perhaps a surcharge on Federal Reserve loans could be used to enhance the antitrust division at the Department of Justice. Fed loans today are effectively at zero percent interest so a small charge will not harm big banks.
Malcolm M. McCay
Vancouver
Reform designed to curb tyranny
I read with a chuckle the March 24 Columbian story “Activists declare they back McKenna,” about the conservative activists who wrote a letter in support of Attorney General Rob McKenna’s lawsuit challenging the constitutionality of health care reform. In the letter, they vowed to “stand up and fight against the tyranny of the oligarchy of corruption.” I think this means they believe there is a corrupt oligarchy that is wielding tyrannical power over the populace.
This is actually true. However, the tyrannical, corrupt oligarchy is not the people who brought us health care reform. Health care reform is designed to protect the populace from the corrupt, tyrannical oligarchy of insurance companies.
Next, we need to curb the power of the corrupt, tyrannical oligarchy of Wall Street bankers. I expect a fight there, too, as Republicans support the tyranny of money over people.
Tom Daniels
Vancouver
Governor ignored recommendation
I’m reminded of President Reagan’s quote, “Here we go again,” reading the March 20 Columbian story “Governor nixes C-Tran’s advice, names Harris to bridge council.” The story reported that the C-Tran’s board wanted Vancouver city Councilor Jeanne Stewart to represent us on the Columbia River Crossing advisory committee, Project Sponsors Council. We know Stewart does her homework on issues before deciding how she will vote on any issue. Evidently, this quality is not what Gov. Chris Gregoire is looking for. She wants a committee she can and will control.
Anyone who has followed Jeanne Harris’ career since she was appointed in 1997 will know why she and not Stewart was appointed. As a challenger for other offices, Harris has been trying to climb the political ladder to more lofty status for years. Here is her opportunity to really shine for the governor.
Stewart also wants the taxpayer to vote on the light rail — aka The Money Train. Why not vote now before we spend another $80 million in tax dollars “to study” to see if we want to pay the price of the Money Train?
Ralph Peabody
Vancouver
Characterizations don’t hold true
Too often, the media use terms like “Islamic terrorist” or “Muslim extremist.” When I lived in Ankara, Turkey, I found people of that Muslim-majority country to be friendly, hard-working people who seek stability and a better life for their children, just like us.
The next time we hear negative characterizations about the Islamic world, think about that Turkish air force officer on board the NATO AWACS aircraft patrolling the night skies of the Mediterranean.
Think about that Egyptian air force pilot in his Texas-built F-16 jet fighter, keeping a close watch on Libyan dictator Moammar Gadhafi. Think about the Saudi Arabian diplomats as they cope with the destabilizing prospect of Iranian nuclear weapons.
Think about the Somali refugee parents in Minneapolis who proactively called the FBI, worried that their sons were involved in radicalism.
Think about the U.S. citizens of Muslim heritage who are serving in the military and intelligence services, keeping us safe.
Think about the democracy movements in Iran and Egypt.
Yes, the Islamic world has al-Qaida and the Taliban. But we have people like Timothy McVeigh and hate-mongers like the Ku Klux Klan. It’s up to us the extend the hand of friendship to reasonable people around the world.
Ron Rasmussen Jr.
Vancouver
Cartoonist ignored historical facts
In the “Wrong side of history” editorial cartoon published March 21, the cartoonist got his history wrong. The cartoon portrays GOP elephants as saying “no” to Social Security, to civil rights, and to Medicare. The truth is that most of these historic bills were passed with bipartisan support.
In fact, the Civil Rights Act of 1964 would not have passed into law if not for the huge support of Republicans. In 1964, 21 of the 67 Democrats in the Senate were vigorously opposed to the Civil Rights Act and had been filibustering it from a vote. President Johnson needed the help of 22 of the 33 Republicans to vote to stop the filibuster and get on with the vote.
The bill then passed with 44 of 67 Democrats voting for the act, and 27 of 33 Republicans voting for the Civil Rights Act, making it the law of the land, making racial discrimination illegal in the U.S. Obviously, a higher percentage of Republicans than Democrats supported the Civil Rights Act.
The Columbian should get a refund from the cartoonist of his syndication fee for his gross misstatement of history. Stop perpetrating myth.
Bruce Alber
Vancouver
Demonizing progress is not new
Critics called it “a cruel hoax and a delusion,” a socialist program that would compete with private insurers and kill jobs. If it passes, Americans will feel “the lash of the dictator” and “end the progress of a great country.” One New York Republican representative said, “Never in the history of the world has any measure been brought here so insidiously designed as to prevent business recovery, to enslave workers.” We were told that to cooperate with it would be “complicity in evil.”
Am I describing the outcry against Obamacare? No. Those quotes are from prominent Republican opponents of Social Security in 1935 and Medicare in 1965. Same party as today, though. Same fear-mongering, same predictions that the sky would fall if America extends a hand to its most needy. And now today’s Republicans must slouch back to their districts and explain why a bill that prevents insurers from refusing to cover you, or canceling you if you get sick, is somehow the work of the devil. They’ll find a way.
Ken Shilling
Vancouver
