I never thought anyone could outshine Times staff writer Tom Furlong when it came to creating a financial whipping boy out of Financial Corp. of America/American Savings, but Martin Mayer has just proven me wrong. ("FCA Is a 'Financial Zombie' That Can't Live on Its Own," Feb. 7) In addition, John Snyder's illustration proved he flunked out of the "Satirical College of Loony Cartoonishness."
To date, American has not received one cent in bailout money nor has it requested anything more than a loan--certainly not a grant. If American intends to repay the amount requested with interest, a loan would seem to be in the best interests of the economy and the Federal Savings and Loan Insurance Corp.
I think that these "gentlemen" somehow continue to pen their acerbic wit against FCA and American probably because they tried to cash their inflated paychecks once and were denied the privilege for lacking proper ID. Furlong, Mayer and Snyder have taken it upon themselves to disprove the premise that "hell may have no fury like a woman scorned."
Lucky for us, the investors are intelligent enough to see through this modern-day yellow journalism.