I have been watching and reading the news regarding the huge bonuses Goldman-Sachs plans to pay their employees this year. Since my taxpayer money went to keep them from being on the street, I want to know why there has been no mention of my bonus.
Concerned that history will repeat itself and we will have to bailout these greedy bastards again, I have written to my senators. What I want to know is if the banks have to create escrow accounts to protect themselves from future collapse. Makes sense to me. I'm curious to see what the senators have to say.
As always, feel free to use any or all of the letter to ask the same questions of your representatives.
They work for us, are they really protecting us?
Here is the letter.
Dear Senator,
Goldman-Sachs has evidently recovered from their financial crisis, and the big news is the size of the bonuses they are going to pay their employees.
It is my hope that they have paid back the entire loan that we American taxpayers provided for them, and that there was a nice interest rate on the loan. (Out of curiosity, just how much interest was on the loan?)
I notice that there is no mention of any bonuses being paid to the taxpayers who saved their sorry, greedy butts.
What I want to know is the following. As part of the bailout/loan program, did the US Congress mandate as part of the bailout process, that the banks establish escrow accounts once their profits returned to insure they would never face a disaster again? Seems to me that all this bonus money should be going into an escrow account to insure that Goldman-Sachs never has to come running for a Federal bailout again. An escrow equal to the bonuses guarantees Goldman-Sachs stability far into the future. Needless to say, I expect that all the other banks would follow the same procedure.
So, did Congress include this or a similar stipulation when they gave our money to bailout the banks? Once was enough, we never should have to do it again.
Did you protect your constituents from ever having to sacrifice for the banks (who never showed any appreciation) again?
Eagerly awaiting your response.
Michael Wolfe
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