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November 6, 2009

Economics don’t add up for reader

Again, we are finding out — regardless of how high the stock market climbs or no matter how much the overwhelming confidence in the stock market — there is no translation to employment or higher incomes.

The only indication of improvement in the economy is the salaries, bonuses and benefits of executives who are in charge of large banks and insurance conglomerates.

This new math has this reader confused. Hundreds of thousands of people across the nation are laid off because of failures of businesses across the nation. Yet, the investment corporations that finance these businesses that fail are reaping large profits an passing out enormous salaries and bonuses to the executives, who are responsible for all these failures.

Now, if I have the above equation correct, it means ineptitude, poor money management and lack of skills are rewarded by some of America’s largest financial institutions. The big question that now comes to mind is this: Where can I get an application, and would I even need a resume for one of those high-paying, high bonus positions?

Hey, I’m inept, never can keep my checkbook balanced and I have virtually no skills. Sure sounds like my qualifications more than fill the needs of the huge financial companies that brought our economy to a halt.

Just think, folks, if this letter was going to The New York Times, instead of The Evening News, I’d probably have job offers the day after this letter is printed.

— Steven Fetter, Jeffersonville

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