Letters

corporate cronies

Editor,

In a move that has become standard operating procedure for this administration, President Bush recently decided to side big business over hard-working American investors. This is yet another example of the administration’s corporate cronyism and refusal to acknowledge basic facts

In its next session, the U.S. Supreme Court will consider the case of Stoneridge Investment v. Scientific-Atlanta, which will determine whether investors can recover investment losses when fraudulent corporate collusion is proven. Last week Bush killed the SEC’s recommendation to file a "friend of the court” brief on behalf of investors.

This case stems directly from the Enron scandal which rocked the country’s economy. Securities and Exchange Commission Commissioner Paul Atkins said at the time that the scandal’s cost to U.S. households amounted to nearly $60,000 each on average and the loss of about $5 trillion in market value. Yet Bush choose to conveniently forget the incredible impact of this scandal just five years after its devastation, and supply his corporate cronies with a "get out of jail free” card.

The case will determine whether Enron’s shareholders can receive damages from the banks and brokerage houses that colluded to enable Enron’s massive fraud on the American public. Bush’s plea for the Solicitor General to side against investors in this case reveals his complete disregard for America’s investors.

Ron Avila

San Francisco

Betrayal to the middle class

Editor,

During the public health meeting last month the mayor of San Mateo was asked tough questions concerning the lack of affordable housing in our city. The answer given by Mayor Jack Matthews focused on two points. He said his main concern was that developers need to make a profit or they won’t build and also suggested that citizens donate time and money to nonprofits. I am sure that the "175” school teachers who have left this district in the last two years are wondering how doing voluntary work could possibly help get them into any kind of housing.

As far as developers making a profit, I would like to ease the mayor’s mind. The San Francisco-based developer who will be doing Phase II Project at Bay Meadows recently purchased a building in San Francisco. Not just any building mind you — but the landmark Art Moderne AT&T Skyscraper on New Montgomery Street. The cost — just $170 million. Wilson, Meany & Sullivan have also made big bucks doing restoration work on the San Francisco Ferry Building, the Flood Building and the Development at Treasure Island.

So you can rest tonight Mr. Mayor your real estate friends will be OK. Maybe you should focus instead on the loss of those teachers and this city councils betrayal to it’s middle class.

Enjoy your remaining time in office because during the next election we intend to replace this City Council with people that have backbones.

Robert Bacon

San Mateo

Can’t we all just get along ...?

Editor,

I agree with David Kensinger’s letter of June 18. Scott Abramson is wrapped a little too tight and needs a hobby/vacation or a dog to walk.

His daily rants about danger to the left and danger to the right is amusing. I’ve managed to turn his constant (and very predictable) postings into a form of entertainment.

Bill Baxter

Redwood Shores

Troops with PTSD

Editor,

According to a recent article in Newsweek by Sharon Begley, controlled studies show that many soldiers who see a psychiatrist for post traumatic stress disorder develop worse symptoms than those who deal with the problems on their own.

Not only does seeing a shrink not work, but it makes things worse! And the only solution the psychiatrist has is to put the poor guy on mind altering drugs which may make him want to commit suicide. Our soldiers deserve better treatment than that!

Bob Johnson

Los Gatos

Bush, the Albanian

Editor,

Why doesn’t Bush stay in Albania since they like him so much over there? The Clintons could join him, and together they could enjoy their own little empire, and we would be rid of a demagogic dynasty that has ruled and ruined our republic for nearly three decades. Just a thought.

Aric Zoe Leavitt

Santa Clara

Keep up the care

Editor,

I read the article "25th Avenue business group dies” in the June 19 edition of the Daily Journal and was amassed to think the business merchants are not all keeping up with the annual fee. When I read what is being taken care of, I thought it was worth every penny. If the merchants let this go, the blocks will become run down and trashy and then they will complain again who is caring for the block? Business merchants and retail business wake up and smell the roses. Keep up the care of your area. It’s worth it.

Jan Petty

San Mateo