Below find a typical message (one of many between 2011 and 2014) posted on the White House site in 2014, trying to get justice for people who try to augment their retirement income with interest from their savings accounts. Towards the end read the response from President Obama; he either did not read my message, or did not understand it; he never addressed my concern, hence nothing was promised, and nothing was done. This was the standard outcome of every issue I brought to his attention; many times I did not even get a response. I used to like this guy.
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Frank Maier
Mon 1/20/2014, 3:43 PMFrank Maier (monfranz2@yahoo.com)
The following was sent to the President, on the requested site:
"Dear Mr. President,
How can we in a free society be indirectly forced to give our money to banks, for literally no interest to speak of, while banks, like Bank of America, post the biggest profits in their history? Please see the quote below, by BA's Bruce Thompson.
"We enter this year with one of the strongest balance sheets in our company's history," said the bank's chief financial officer, Bruce Thompson."
The Government is clearly on the side of the banks, against the fairness, which demands reasonable returns for our deposits. The stock market is way too volatile, and therefore, the banks are the only other option. Inflation is much higher than the little interest we earn. If you think that this situation is just, then you have a distorted view of moral decency; I hope, this does not apply to you. This situation needs to be addressed by the Government, because we, the people, are here in an unequal bargaining position.
The banks hit the little guys very hard, through fraud, etc., and nobody went to jail that I know of, and the banks are defrauding the public still to this day, by taking our money for next to nothing, and charging high interest rates and fees to those who take out loans.
If we would put more interest earnings into the hands of account holders, instead of allowing the current situation, then our economy would recover faster, because more spending money would be available to the consumers. It is that simple.
I need to hear from you.
Thank you,
Frank Maier"
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The White House Auto-Response Message
Wed 9/18/2013, 3:50 PM
The White House Washington
Dear Frank:
Thank you for sharing your thoughts with me. I have heard from many Americans who are worried about the future of their retirement savings, and I appreciate your perspective.
Retiring with dignity is a promise we must keep to all Americans, and I am working hard to strengthen our retirement system. That is why I am committed to protecting Social Security and addressing Americans’ concerns. Social Security cannot be subjected to risky privatization plans because the future of hard-working Americans should not be left to the fluctuations of financial markets.
To better secure their retirement and prepare for unforeseen circumstances, Americans must also save for their future in other ways. We are laying the foundation for all individuals to participate in workplace retirement accounts. Employees would be automatically enrolled in pension plans and could opt out if they choose. Simple and automatic enrollment makes it easier for people to plan for retirement. This would assist the 75 million working Americans—about half the workforce—who lack access to retirement plans through their employers. Please join me online to learn more at www.WhiteHouse.gov/Issues/Seniors-And-Social-Security.
Thank you, again, for writing.
Sincerely,
Barack Obama
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