I have written you many times about various things, but now the necessity is even more dire than before as this nation slides into the quagmire that greed and incompetence has created.
My book “Final Audit” addressed these two areas of failure after the bankruptcies of Enron and WorldCom. And, as I predicted, we are in far worse shape than we were then. Not only have the greedy and incompetent failed us, but you, meaning Congress and you personally, have failed us.
As you contemplate a $700 billion bailout of these crooks and thieves that have created this mess, let me give you some advice from an individual more brilliant, more versed on what a country needs than you and I combined.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)
You will be hearing from me again shortly regarding a complaint I am filing with the FDIC against Advanta Bank Corp in which I will again remind you of the government’s failures of which I am both disappointed and angry.
Be extremely conscientious as you prepare to vote for a bailout in my name. It is imperative that you do the right thing for America and the American people.
This letter was written to my congressman, Ed Royce, as the house was debating the $700 billion dollar rescue plan. It was my attempt to make my Rep aware of how bad the banking system had become. It was e-mailed to him on September 22nd of 2008.