Sunday, January 11, 2009

Wells Fargo- Wachovia

I am writing requesting a response on why Wachovia was not included in the list of banks who were the beneficiaries of the multi- billion dollar stimulus package approved several months ago? I have read that 92 banks were included. Why was the only recourse for Wachovia to be bought out by Wells Fargo?
Why does my Federal Government seem to favor larger and larger corporations? I have read that some of the funds granted by these huge mega banks have been used to buy up smaller banks. I have no way to confirm but you should be able to. I have also read that bonuses and other benefits are still being paid out to the high officials of these corporations as if their performance deserved it.
These corporations that are too big to fail, in my opinion, are too big. Returning to the days of local banks would be far more preferable than these monstrosities which are so big they can create havoc with the economy as they have done and are continuing to do.

Jack B. Walters
3961 N. Hillwood Circle
Tucson, AZ 85750
(520) 722-2958
January 11, 2009

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