Expose them

September 15, 2009 

Regarding your Sept. 4 editorial "Bernie's ways," sure Bernie Madoff cost thousands of people tens of billions of dollars, but Congress created rule changes to the vital commodities marketplace that lost millions of Moms and Pops over $4 trillion and counting in wealth. Expose these liberal lawmakers from both sides of the aisle who enabled an out-of-control commodities marketplace that supported the creation of sub-prime mortgages.

This recession we are still suffering through is a direct result of Mom and Pop's loss of wealth. Home equity and the reasonable use of it have fueled our economy for decades. Prudent risk-taking in purchasing autos, second homes, furniture and getting kids through college was supported through home equity. Dropping home values caused by the extraordinary number of foreclosures has been the result of Congress' poor judgment and then inaction despite repeated warnings from economists and lawmakers that they had built a house of cards.

Michael Benigno

Raleigh

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