Editor, Gazette-Journal:
We are deeply disappointed in the performance of Congress. Congress and the administration have failed American citizens.
Our country’s most pressing problem is the failure of our economy to meet the needs of millions of citizens. Millions of citizens are unemployed and millions more are enslaved by mortgage obligations which cannot be resolved because Congressional legislation blocks access to bankruptcy court. Denial of the bankruptcy process is an unreasonable protection of the very banks and bankers who created this great contraction.
By protecting the banks, Freddie Mac and Fannie Mae, you condemn the nation to a long period of low aggregate demand and poor economic growth. You are creating a Zombie State condemned to suffer hardships like Japan has suffered. The housing mess must be resolved right now.
Propublica.com has recently summarized the failure of legislative and administrative moves over the past three years. An excellen...
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