Letters to the editor for March 14, 2013

Written by Union Democrat staff March 14, 2013 01:01 pm

Positive buzz about library’s Trivia Bee

To the Editor:

Kudos to Lynn McCormick and Anita Simpson of the Tuolumne County Library staff for the very successful Trivia Bee held on March 9. Monies earned from this benefit will help support the library’s Adult Literacy Program, including the purchase of new computer equipment.

Primarily as a result of Anita’s and Lynn’s diligence and extra effort throughout the year, team members and their supporters, sponsors, event staff and other audience members represented: the business community, service clubs and veteran organizations, local media, local artists, county staff, and the general public from throughout Tuolumne County. Hopefully a good time was had by all and thanks to all who participated.

Tuolumne County is very fortunate to have such a hard working pair as Lynn and Anita. Their dedication and community involvement epitomize all that is right about public service.

Bill Hansen

Sonora

Hey Wall Street! Money earned that fast won’t last

To the Editor:

After reading a biography on Steve Jobs it occurred to me that an overlooked trait of Jobs was his avoidance of making a “fast buck.”  He could pursue excellence in design because although being in a hurry to accelerate progress the “fast buck” was not a factor.  Contrast Jobs with Wall Street where “fast buck” is the only game in town, when one financial instrument slows down they create more derivatives, etc. to soak “Main Street” out of their money.

By controlling the White House and over 80 percent of Congress they have an easy game.  In recent decades the Federal Reserve Bank does not fare any better, raising and lowering interest rates at too fast a pace ensures volatility in the markets, GNP, employment, etc.  The tens of thousands of pages in the IRS Bible also contribute to this game, sections 401(k), 457, etc. are designed for the public to accelerate investment where Wall Street is the biggest recipient of financial gains.  

Agriculture, manufacturing, education, etc. contributes real value to the economy. 

Most of Wall Street and the biggest banks contribute little in their search for the fast buck.  A transaction tax on all stock, hedge funds, options, large currency transactions, etc. is needed to slow down speculation and risky manipulations of the market. Oil futures are now considered one of the causes of oil price volatility. Democratic societies cannot stop gambling but can slow it down, the same can be said for market manipulation/volatility.  

Dennis Schneider

Angels Camp