Letters to the Editor

Bank fines, CSUS contract, U.S. threats

Barclays, Citigroup, JPMorgan Chase and the Royal Bank of Scotland have agreed to pay $2.5 billion in fines for conspiring to fix rates on U.S. dollars and euros traded in the global currency market.
Barclays, Citigroup, JPMorgan Chase and the Royal Bank of Scotland have agreed to pay $2.5 billion in fines for conspiring to fix rates on U.S. dollars and euros traded in the global currency market. The Associated Press

Banksters still at it

Re “5 banks agree to pay $5.6 billion in fines” (Business, May 21): Another disgraceful scandal brought to us by the banking industry. This time it cost them $5.6 billion in fines. Two of the banks had net income three times that amount. Are we starting to see a pattern here? Remember, even after the banksters crashed the economy in 2007, it was Republicans who fought tooth and nail against any regulations for the banking industry. Mustn’t interfere with the so-called free markets, they said.

Just watch in wonder as the Koch brothers and their billionaire buddies flood the airwaves with commercials to elect more of the same Republicans. As usual, we have a story which directly relates to the Republican destruction of the American middle class and The Bee buries it on the bottom of Page 10A.

Chris Winchell, Citrus Heights

Over-the-top largesse

Re “Board backs new CSUS president’s contract” (Page 6A, May 21): Here we go again. Sac State President Robert Nelsen will get a salary in excess of $300,000 along with a $60,000 annual housing allowance and a $12,000-a-year car allowance. News flash: When the citizens of California pay you more than $300,000 a year, you should buy your own house and your own car.

That is what the average citizen making $75,000 a year does. Exactly what performance metrics merit this type of compensation? President Alexander Gonzalez presided over numerous knee-jerk tuition increases as the solution for most of the university’s issues. It seems these salaries should demand improvements that evidence innovation.

Try starting with innovations that guarantee students can graduate in four years versus five or six. Until tuition costs and graduation times are significantly improved to benefit the students, these kinds of compensation packages are over the top.

Harry G. Campbell, Carmichael

Different view of great threat

Re “Climate poses risk to U.S., Obama says” (Page 11A, May 21): The president has identified climate change as a top priority for the remainder of his time in office and as a central element of his legacy. I say the biggest threat to us and the rest of the world is the radical Islamic terrorists’ quest for complete domination. Beheadings, rape, slavery, mass executions and destruction of priceless structures, art and culture.

David Brannan, Citrus Heights

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