On 2-12-25, the following letter was written by the Enlightened Prisoner.
February
12, 2025
Senator
Elizabeth Warren
311 Hart
Senate office Bld.
Washington,
D.C. 20510
Dear
Senator Warren,
Like most
citizens, my income, (I’m a retired pensioner), is only sufficient to cover a
portion of my daily expenses and what I may occasionally direct to savings for
emergency purposes is minuscule. As you
are also aware, the federal licensed banking institutions are paying me a
totally insignificant interest for checking and passbook savings amounts I keep
for ready payment of regular or unforeseen expenses.
Yet, those
same banking institutions are paying premium interest rates on their stocks and
bonds for those wealthy enough to afford them. And, in the case of most all those
investment securities, the people and wealth management companies holding them
had nothing to do with the initial purchase the securities represent for an
investment in the bank’s economic operations.
My deposits
in checking and savings accounts, however, represent on-going revenue for
banking institutions to finance their daily operations and loan
opportunities. So, would it not seem
fair that my interest in financing their daily revenue should be at least
comparable to the interest they pay for those investment securities that
represent initial purchase when the stocks and bonds increased value since
purchase has no effect on those daily banking needs?
I’m sure
there are statistical records that would support my argument, but I will leave
that to your expertise of our country’s financial snapshot for our economic
playing field. My idea for this
suggestion was born in watching Robert Reich’s film, “Inequities for All” and
respect for the concern you have consistently shown for matters affecting the
economy was responsible for directing the idea to you.
Thank you
for the time taken to read my recommendation and thank you for your service in Congress that means so much in being a
voice for middle class citizens.
George O
Ray
PO Box
1416. Allyn, WA 98524-1416
(360)
275-1710