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Thanks for the gratitude

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The Tampa Tribune

Published: April 8, 2009

At a time when most people are struggling, major banks that have obtained taxpayer monies through bailout programs have decided to "help" the consumer by lowering credit limits and increasing interest rates. Isn't it ironic that banks such as Bank of America, Citicorp., HSBC, etc., which have obtained so much of our money to cover their screw-ups, now want to turn the screws on the consumer even further than they have in the past?

If they have used our money for their betterment and are able to go to the Fed window and obtain funds at almost zero interest, why aren't they passing the savings to the consumer? I spent 40 years in banking and could not fathom having a multitrillion-dollar bank or banks almost go bankrupt.

If the government truly wants to stimulate the economy, dictate to the banks to give the consumer a break. It's not only the retail mortgage area that needs assistance but the total retail lending facilities that need to be revamped and controlled to the advantage of the consumer, John Q. Public.

SALVATORE M. PONTILLO

Valrico

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