Wednesday, February 18, 2009

Dear President Obama

Dear President Obama: Thank you very much for the "stimulus" package. But, I do have one question, "Where exactly is the stimulus for the millions of Americans that filled the US Treasury with the trillions of dollars you are now handing out to the exact same poorly managed companies that caused all of this in the first place."

Perhaps you may not have noticed a few things that took place prior to the collapse of the economy. I would like to point one important one out to you. In 2001 my wife and I purchased a home in Coral Springs, Florida. Though it was a bit expensive we thought it was a good investment since it was in a good neighborhood, had good schools, was near shopping, etc. Well, we didn't realize that it was as good an investment as it turned out to be. It doubled in value in less than five years. The problem was that so did everything else in a comparable market. Looking back on this as a reflection of market conditions in general, it's rather easy to see that mortgage lending was a major cause of this problem. Home values were skyrocketing, loans were easy to obtain, brokers and lenders were making lots of money. But this was a market built on air. And noiw we are seeing the results. The values have gone back to where they should have been back in 200X. The market has not had it's bubble burst, as we are told by you and others who would like us to believe in your scary stories. It has merely adjusted to normalcy.

Why should the US Treasury, our money, save the robber barons. Let them fail. Let GM go under, because surely someone will buy it. Let the lenders go under, they dealt in robbery and deserve what they get.

If you want to stimulate the economy, stop telling everyone had bad things are. You ran for the presidency on a platform of hope but have done nothing since taking office but tell us how bad things are. Poor sportsmanship I say.

Last, thanks for the $250 that will go to social security recipients some time in 2009. That sure will stimulate the economy. NOT!