By S.C. Verma
Diamond Bar, CA: It seems to me that the US. banking system is out of control and ready to collapse. It may be the most corrupt system in the world. European banks are the same. God knows what is going to happen to the middle-class people in Europe and America.
Governments cannot be ignorant of this fact. But the US government is not doing anything because they are bailing them out with taxpayers’ money. It is terribly wrong.
I appeal to President Barack Obama, to please control these banks or the best is to nationalize them.
For years middle-class people have been crushed. This needs to change. The elections are due this year. The middle-class people are very much frustrated. Pay cuts, pension cuts, layoffs and low-paying jobs are still a problem despite the fact that about $ 6 trillion has been spent. It does not make sense. The people are getting angry. The taxpayers do not know where their money had gone. CEOs are getting hefty pay and bonuses at the cost of taxpayers’ money.
In my opinion, it is a very terrible situation. The President must do something. It is his election year.