Change in character

I’m surprised by you haughty posture in the face of public failures.

Let us start with the Treasury Department.
In February 2009 you said that Geithner would announce in March, your government’s solution to the banking crisis – the questionable value of securitized mortgages in the banks which had frozen credit markets. There was considerable consternation at the long delay because Geithner had been appointed in December. His March presentation was inadequate. I am on record as presenting an alternative in March. A year has passed and there has been no change in the questionable value of securitized mortgages in the banks. I would consider this a public failure.
Newpapers have reported that Geithner authorized public funds to AIG to be passed through to Goldman Sachs before the CDS were valued, for at least 2.5 billion dollars. I submit this is a public failure of fiduciary responsibility.

The government has used public money to help AIG pay banks the CDS claims by the banks on the declining values of the securitized mortgages that they, the banks own. The banks have been paid the insurance policies they placed on their mortgages yet they have not removed these mortgages from their books. Geithner has budgeted taxpayer money to pay for devalued assets to remove them from the banks’ books. Your government has paid the banks twice, once through the CDS payments from AIG and the second time when you relieve the banks of the securitized mortgages. This double payment is a public failure of fiduciary responsibility.

The Justice Department.
The prosecution failed to present a case in the Blackwater affair.
Your promise to close Guantanamo by the end of the year failed and looks like a totally false promise.
Both are embarrassing public failures from an institution meant to protect the public.

My perceived Injustices
I think that it is unjust that milk has to compete against soft drink products because the fructose in the soft drinks, is from sugar beet and corn farmers who are subsidized by the government. The short term benefits MacDonald’s, Wendy’s and Burger King because they buy the cows from dairy farmers who are going out of business. In the long-term, fewer dairy farmers mean the price of cheese will rise, raising the price of pizza. Some suggest milk is healthy for children and the rising cost of milk may impact the health of children. It takes years to re-establish a herd.

I perceive a failure by the Anti-trust Division of the Justice Department to prosecute banks such a Goldman Sachs and J.P. Morgan Chase for anti-trust practices.

I respect Rahm Emnual’s untiring efforts in Government. For every minute of family life you enjoy he has given up an hour of family life with his family. He has been successful. I do not wish to diminish his accomplishment and sacrifice but you must acknowledge that healthcare is a limited success. You can fully celebrate the effort and historic breakthrough. You will be exasperating your haughty posture if you overplay the significance of the bill.

I thought you were a person of character who celebrates with humility and who responds to criticisms with effective counter-punches. We longer see these traits. In my frustration, I am accusing you of haughty behavior in the face of public failure. For me, a wage czar and tax on bank bailout profits are signs of thin-skinned attitudes and sticking with Geithner and Holder are signs of stubbornness. These pettinesses remind me of a G. W. Bush.

PS I keep telling you how the price of bread goes up. The price of breadcrumbs for Christmas stuffing was the price of a loaf of bread two years ago. Are you watching the standard of living index?