No taxpayer bailout for 'Wall Street worshipers'

Dear editor,

As a result of Wall Street worshipers’ leadership, between 2007 and 2008 Americans suffered their greatest financial collapse since the Great Depression. 

The stock market dropped 45 percent, home equity lost over $8 trillion, retirement assets tanked, saving and investments lost over $1 trillion, pensions lost over $1 trillion and home equity debt increased to over $10 trillion.

This brought the American economy to its knees. 

In response, the American taxpayer government Wall Street bailout committed over $13 trillion. Preventive legislation was passed. It helped.

For example, in 2016, a reported 5,000 Wells Fargo employees were fired over 2 million phony accounts of customers, including home loans.

Kneeling again, Republican Wall Street worshipers recently proudly voted to repeal and gut those legislative measures protecting Americans from Wall Street excesses. There was nothing included to make Wall Street responsible for their excesses. 

The Republican Wall Street worshipers must be looking to dump this on the back of the American taxpayer, again.  

Where is the outrage?

DAN STEWART

Pace

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This article originally appeared on Santa Rosa Press Gazette: No taxpayer bailout for 'Wall Street worshipers'