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President Obama ! Where is the "change"? Where is the leadership and creativity? When it comes to economy, all I see so far is you following the same prescriptions as the former Secretary Paulsen, Bush Administration and the mainstream democratic party bosses . Although you have presented yourself as a progressive politicians but at best you have so far maintained a big government center right position.

Mr. Obama!    Bill Clinton was the beneficiary of Reaganomics and a tough foreign policy that helped collapse of the Soviet Empire. On the other hand you have assumed the office of the presidency after George W. Bush: A collapsed banking system (Yes it already has collapsed), a failed economy, highest deficit in the world history, and an expensive lost war . You can not solve the current astronomical problems by having Clinton's staff try the same economic policies of the past while having his wife do the talking in the international arena. For that we would have chosen Hillary!

Mr. Obama! "Where is the beef?!" So far when it comes to economy your policy has been to feed the same monsters who ate the child long time ago and now all you are doing is to keep feeding them with our money and with our children's future in the hope that the same financial monsters suddenly turn to angels who may save us from themselves!

Mr. President! When the house is tilted from the foundation to the extent that the doors and windows no longer function, spending so much money that we do not have (borrowing billions more) to buy new doors and windows won’t work. When the patient is fighting cancer, injecting new blood won't save her life. We need an overhaul, we need chemo and we can NOT do that with the same people who got us to where we are now!

Mr. Obama, remember when President Reagan stood at the Berlin Wall and told the president of the second strongest empire " Mr. Gorbachev tear down this wall" ?  Now allow me to be the first one to tell you: " Mr. Obama ! Tear down this wall".  This time "the wall" being the many of the Wall street and banking tycoons and elite, who have rubbed the people of this nation and the world of hundreds of billions of dollars in the past few years or have lost the monies that were "TRUSTED" in their hands with their careless financial gambles.

Mr. Obama in case no one has reminded you, the soviet system collapsed and now you are turning US to a corporate welfare and corporate socialist state. What you are doing has already been tried years ago in other countries such as Brazil and Argentina which ended up in closure of banks, people loosing all their savings and devaluation of their currency to the point of creating a whole new currency .... 

This printing of billions of green paper out of thin air , this policy of borrowing billions more to maintain a wasteful failed economic system (in its head a flawed Federal Reserve Board that should not have existed to begin with), will only lengthen the painful suffering of millions of people resulting in the eventual collapse of dollar.

Mr. Obama! We need accountability. Those responsible such as the former head of countrywide financial and TENS of others should all be tried in public courts.

Mr. President stop feeding the TOP of the pyramid hoping that the thieves will pass it on to THE PEOPLE. They did not last time and they won’t this time either. The writing is already on the "wall". See where the billions that we already have allocated have gone?! Where are the new jobs? Where are the new loans? The billions that the people of this nation and the world lost in the past few years did not mysteriously end up in the thin air. They ended up in the accounts , villas, private jets and yachts of the ones who created this DISASTER.

Those of us on the main street saw the writings on "the wall" much before any of the so called financial gurus and policy makers even started whispering it, let alone confessing to it in the public.

While rubbing people from their home equities and savings by promoting the idea of excessive consumerism of buying junks that create nothing, selling them dreams that were never going to come true, Fed chairman's continuous false promises of a sound economy, while wall street and hedge funds were filling their pockets by selling the overvalued stocks to the retirement and pension funds of the people of this nation and the world, just to short the same equities later and make money on the downside too, while people were being lured in to negative amortization loans with higher interest rates but at 1% payment rates that were going to last only one year, while the prices of homes were skyrocketing due to careless lending practices and excessive dropping of borrowing rates by Federal reserve Board ….while….. watching our neighbors and acquaintances live in their new glass houses that they really could not afford at the first place, driving the luxury cars that they should not have driven to begin with and while many were showing off their new chandeliers to each other, few on the main street of the financial industry like myself, sold our homes and stocks at near market highs to protect our savings, continued to live within our means and moved to rentals just to watch the deck of gambling cards fall one after another and while the government, the Wall Street, the professional analysts, the CEO’s, the Congressmen and Senators of BOTH parties, Fed Chairman's and many people kept denying the inevitable.

Mr. president! there are many better solutions than what you are doing. I give you only few leads and as smart as you are, you can figure out where I am coming from and take it from there! :

FIRST AND FOREMOST: - Move out of Iraq in an orderly fashion NOW and stop wasting billions of our money on a lost whatever cause! In case you have not noticed Iraq is already called the Islamic Republic of Iraq with a majority Shia in power taking lead from the Islamic Republic of Iran next door and the Kurds have already been efficiently running their affairs in an autonomous way in the north. The billions of our tax dollars is NOT protecting our national security or interest but are only continuing to fill the deep pockets of the contractors who have been the sole beneficiaries of this war. The ones who have been the real threats to our national security and interest all along have been here in Washington and New York, bringing our nation and the world on the verge of a financial collapse!

SECOND and NOW: Totally Abandon short selling and see how fast stock market rises and values of our retirement and pension funds increase.

THIRD : Instead of subsidizing the corporations and banks, start with the underlying problem: Housing!

- Offer or insure the refinance of EXISTING home loans REGARDLESS OF THEIR APPRAISED VALUES at 5% to all home owners and 6% to investors up to $650,000.  Offer or insure purchase of NEW homes at 4% to homeowners and 5% to investors.

- Those who still can not afford the payments will have to let their properties foreclose if they chose to. They should not have owned the homes they could not afford to begin with . BUT if anyone has been foreclosed or is being foreclosed and they financially qualify to own a CHEAPER home (no more than 60% of the loan value of their previously foreclosed home) , they should be allowed to obtain financing regardless of their prior foreclosure record and credit.

FORTH:  Put an immediate freeze on accounts of bad banks who are in red and take over PEOPLE’S deposits before these banks spend whatever is left of it just to leave the remaining tab to taxpayer maintained FDIC! Let bad banks and firms fail and instead of making the pain last longer let the good ones take over. We have too many banks to begin with anyway! Let the market adjust to its proper value once and for all without so much useless government intervention and delaying the inevitable. All these government interventions in the past few years at the cost of our tax money have not helped the market AT ALL , as we are now at 48% of the market highs with Dow at 6000's.

FIFTH: Drop the capital gain tax to 5% . This idea of increasing Capital gain tax at the time of economic distress is ludicrous at best!

SIXTH: Continue to promote jobs that create something (vs. nothing) in the areas of infrastructure, energy, environment, manufacturing, technology, health, education etc and avoid creating more wasteful and useless or too many management jobs that have no efficient output.

Stop handing out our money to those have acted irresponsibility and instead help promote those who have been responsible . They are the ones who can create more jobs and fix our problems and not the ones who caused it and now are asking for billions more! …This notion of trying to save jobs by keeping failed financial structures was already tried in Soviet Union, Latin America and alike. Mr. President! It does NOT work. Give it up NOW before it is way too late and before the chaos take over!

 But if you still chose to continue to do what you are doing , I sure hope it works! because if it doesn't! I know there is are no back up plan ! as this is the final draw! and God help us all then!

The existing corrupt Financial system HAS already collapsed....and if you don't want this to happen again; Mr. President! also have the balls to hold the ones responsible , responsible! 

Sincerely,

One of your presidential campaign activists 

For more by the author on the status of the economy read: The New World Order dated January 20, 2008:  //iranian.com/main/blog/david-et/new-world-order