Dear Congressman,

There are people in this world who can advise on how to solve the current financial problem without taking the communist steps proposed by Hank Paulson. Please do not cave into the elitist and socialist plot being shoved down your throat by central planners. Our Founding Fathers understood the importance of a free and sound monetary system to insuring freedom of the citizens from an elite and corrupt class of men. Allowing banks to collapse is the only way to insure integrity and regulation to the system. The Federal Reserve act was a power grab that has been used to strengthen one group of people at the expense of others to the point that they now think that they are so privileged that they should never be allowed to have to experience the consequences of their actions and that the true wealth producing citizen should have to pay to bail them out. More centralized authority is not the solution but instead is a burden this country will have to carry for many years. Please fight for more state independence and a competitive system that takes away the authority given by the Federal Reserve act. If the FED can stand in the face of true competition then that’s fine but neither it nor the system that Hank Paulson is proposing should have any type of government approved monopoly or immunity. Fight against centralization for it is the culprit in this disaster. A freer and more competitive system will bless future generation and make this the prosperous and free nation it was meant to be.

I wrote this email to some associates this morning:

There should be some on the government side going to prison as well but that will never happen. If a doctor operated his business like some of these financial elitist operated their business he’d be in jail from day one, not getting assistance from the American tax payer. The financial practitioners and bankers manipulate the system so that risk is not factored in properly which acts as a trap for hard working people and artificially drives up asset prices so that they pay too much for real assets and then they create a mass of worthless CDOs to top it off. Then think that the citizens of the world should bail them out so that they can keep their nice cars and big houses on the Riviera. These arrogant and self centered people have turned a normal economic housing cycle into a world disaster and don’t think they should have to take the blame. They proudly display their diplomas and certificates when trying to get your business but don’t want to be judged as proper experts when the hammer falls. I don’t see the government running around bailing out electricians who burn down peoples houses with faulty wiring; if they did we would have a lot more houses burning down. As Alan Greenspan openly admits, the government in bed with global financial institutions and with the help of entities like GSEs and bailouts like LTCM has altered the true risk reward structure of lending and this was reflected by lower lending rates. Further more, the moral hazard created by the government’s promise to use tax payers savings to bailout the financial elitist (who now say ‘let them eat cake’ to the borrowers) created a condition that allowed the greedy to move into the realm of creating non liquid and non transparent financial instruments that basically leveraged this ‘tax payer put’ to fill their pockets. The people who operate like this do not carry one ounce of concern for their customer or for their profession they just want to put more in their bank accounts by whatever scheme honest or dishonest that they can come up with and then insure it at the cost of some hardworking Joe who sees his life’s savings disappear through inflation created in saving the ‘economy’ (saving the rich bankers and their cohorts from loosing their homes). I bet not one in ten of the people in the global financial industry could tell me anything meaningful about John Law (Jean Lass), the French Revolution or why the French quit using the term bank. There are basic economic and financial theories and anyone who calls themselves a professional in the field of finance should be held fully accountable in a court of law for practicing their profession in accordance with these principles. Professionals in all fields take a responsibility to know their trade not just to know how to milk the customer. I’m not saying that everyone in the financial world is bad, in fact many have been warning about these problems for years and many just don’t understand their profession to begin with but for the ones who produced, what Warren Buffett called, the financial sewage mess there should be no reprieve.