The nerve

Dateline: Fri 26 Sep 2008

Wachovia, where my daughter took out some student loans for law school, with me as a co-signer, had the gall to insist on payment even as she struggled to get a deferment. Obviously, the economy is not exactly cooperating with job-hunters right now, and she needed a few months' extension as she looked for work. When she applied for deferments for federal loans, they were immediately granted. Wachovia decided to go for the jugular instead. That meant almost daily insistent and sometimes threatening calls to our home ("This will ruin your credit") as well as,yes, a potentially bad credit score for me. Lovely.

I knew the student loan company was in trouble last year, but like other hard-working Americans, I am sickened to read of the giant golden parachute provided Wachovia's former director Ken Thompson in today's Star. This fat cat basically put the lending firm in the toiler with his aggressive, greedy aquisitions, then walked away from the failing firm with a $5 milliion package.

And he looks like a pauper compared to Stanley O'Neal, who left Merrill Lynch in the lurch but with his own pockets lined with $66 mil, and Charles Prince, who got $16 mil after wrecking Citigroup.

Is this France in the 1700s? Is the Revolution at hand? Americans have too much grit to put up with such absolute elitist nonsense. And "they" have the gall to call Barack Obama elitist -- a man who has worked all his life, and whose worse "sin" is that he is an intellectual capable of nuanced thinking. God forbid.

I now know that what my old copy editor/friend Larry Duhe said a hundred years ago was true: "How can any working person vote anything but Democrat?" He's right, we can't.

Wake up, America. Republicans are not our friends.

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