To the editor:
I have written the following to our U.S. Senators. But as a comment, may I add the following. Caroline Gentile has just died. She unselfishly gave the bulk of her estate to UMPI to help build Gentile Hall. Seven hundred billion dollars is the equivalent of seven hundred thousand Gentile Halls! Dear Senator Collins and Snowe,
To legislate $700 billion of bailout money may be the height of folly. To legislate $700 billion in one week would be the height of folly.
My gosh, the auto industry says they “only” need $50 billion. I am not in favor of that either, but at least that would be capital improvement that leads to productivity and innovation.
Our local bank lends entirely in house, why should they pay for another bank’s greed. No, I am not a stockholder in that bank.
The system will work, even if the crunch takes a few years. Do not sell our kids down the river!
Presque Isle
