Occupiers justifiably upset by an economic system gone awry
Re Oct. 30 Viewpoint, “‘Occupiers’ mistakenly blame whole class for actions of a few”: The Occupy Wall Street movement has been variously described as a mob, as anarchists or as a bunch of aggrieved unemployed students. In the Viewpoint, the columnist [Norman Perazzo] even implied a comparison with Nazis!
Instead I believe they protest the widespread economic injustices resulting from failed governance, marketplace corruption and regulatory mismanagement. These are injustices and economic distortions that can be understood by all Americans. The Occupy movement protests an economic system that has an excessive banking/investment sector, with insider capitalism enabled by the Federal Reserve and Congress at the expense of industries employing people producing real goods and services.
Deregulation of banks and investment houses (like 1999 repeal of the Glass-Steagall Act) has resulted in the growth of systemically dangerous banks/investment houses that needed a federal bailout in 2008. Federal monetary policy permitted a real estate price bubble and then backstopped the distressed and leveraged debt of the institutional speculators and bankers.
Federal regulators never punished those in Wall Street for fraud and malfeasances (liar loans, looting, mortgage recording fraud, etc).
Today’s low-interest monetary policy continues, penalizing middle-class savers and the virtue of thrift while supporting banks, speculation and debt. Washington fiscal policy has wasted the $2.6 billion Social Security Trust Fund set up for the “boomer” retirees, spending it on failed wars, bank bailouts and tax reduction for the wealthy. Having run debt, many of these same leaders conspire to destroy the Social Security program. Corporate special interest money continues corrupting the political process — billions will be given for the 2012 presidential election.
I disagree with Perazzo: This is not about class nor about envy of earned wealth — it is about rightful anger over the injustices of a privileged coddled financial sector and select beneficiaries enabled by the Federal Reserve and by Washington. The American economy will not recover until the banks are reformed, Wall Street is effectively regulated and the rule of law for all re-established. Otherwise, we have lost our American democracy.
G. Latimer Schmidt
Corporate cash has too much influence in U.S.
American democracy is being usurped by corporate money.
National surveys show 87 percent of Democrats, 78 percent of independents and 68 percent of Republicans favor passage of a constitutional amendment to overturn the 2010 U.S. Supreme Court decision in Citizens United, which declared that corporations [had the same free-speech rights] as people. I, and many others, believe that the judicial code of conduct that applies to all other federal judges should apply to the nine Supreme Court justices as well.
Justices Antonin Scalia and Clarence Thomas both had undisclosed ties to the Koch brothers and corporations at the time they were deciding the Citizens United case. Further, Clarence Thomas should be impeached because he accepts gifts from participants in cases that are before him, and he files false financial reports.
Let your elected representatives know how you feel about these matters.
Occupy movement like tea party? Not a chance!
Now that the Occupy Wall Street protesters throughout the United States have turned violent, are folks still going to equate these disparate groups with the tea party ralliers?
In my opinion, there is 180 degrees of difference between overthrowing the government and downsizing the government. All rational, thinking patriots in the United States can easily see from the newscasts, even from the MSM [mainstream media], what this current protest has evolved into and who is supporting these outliers. This is what community organizing looks like!
And we all know who was involved in those actions prior to being elected president.
Turn eyesore buildings into parking lots
The question on what to do with the delinquent tax eyesores so prevalent in our city’s neighborhoods needs to be addressed.
I propose that Metroplex buy these properties. It would then remove the eyesores and turn them into off-street, well-landscaped and cared-for parking lots for the neighborhoods. I believe Metroplex is allowed to fund parking lots.
The lots would remove the blight from the landscape and would also relieve street parking conditions and make snow removal much easier.
I see it as a win-win situation for our neighborhoods and city.
Dirty politics, as usual, from Gary McCarthy
Re Oct. 30 Carl Strock column, “Did Hull at Union help or hurt Sch’dy?”: Thank you, Carl Strock, for setting the record straight on the originator of the propaganda slams (Oct. 30) by Schenectady’s current acting mayor [Gary McCarthy].
We, the people of Schenectady, need a man of vision and integrity, not more of the same dirty politics. We need a man to change “business as usual” and take back our city.
We are fortunate to have a real choice in this election.
The Gazette will continue to publish selected letters pertaining to the Nov. 8 election in its online edition, www.dailygazette.com.
The deadline for submitting letters is noon Wednesday, Nov. 2, and we will continue to publish them through Saturday, Nov. 5