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Helping his Wall Street cronies

November 23, 2008

Regarding "Paulson closes wallet," Nov. 19:

If there was any doubt that the estimated $700-billion bailout was to be a gift to Treasury Secretary Henry M. Paulson's cronies on Wall Street, the evidence is now clear.

Paulson's rebuke of Congress through his stubborn declaration that he will now "conserve" funds -- after distributing more than $300 billion to the financial sector and refusing to assist homeowners in danger of losing their homes -- makes it clear that those most affected by the deteriorating economy should expect only to pay the bill and not derive any direct benefit from this massive transfer of wealth.

Anthony Balderrama

Eagle Rock

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