To the Editor:
During the congressional recess, representatives typically hold town hall meetings. This year, they seem to be in hiding.
U.S. Rep. Randy Hultgren hasn’t had one that I’m aware of, which doesn’t surprise me as he’s not answered a simple question I’ve emailed to him several times: Does he support H.R. 129, which reinstates the Glass-Steagall separation of commercial and investment banks?
His response has been a standard form letter thanking me for contacting him.
Without this legislation, the public will continue to be at risk until commercial banks are prohibited from engaging in speculative activity. Detroit is being bankrupted by interest rate “swaps” based on banker-rigged LIBOR rates. This would be prohibited under Glass-Steagall.
Needless to say, the creditors who knowingly engaged in these swaps are now demanding to be paid out of the pensions and health care of the municipal employees. To all congressmen in hiding: Show us your faces, look us in the eyes, and explain to us whose side are you on.
Nicholas C. Kockler