It’s just throwing money around

Re “Coaxing investors to take more risk,” March 19

The recent bank bailouts and interest rate cuts by the Federal Reserve and the Bush administration are negligent and irresponsible. They are negligent because they ignore the fundamental problems in the financial markets: Consumers and investors have lost faith in a banking system that hides bad investments and compensates its chief executives with golden parachutes. They are irresponsible because they reward such actions with handouts that are absent of real reform.

Investors and consumers will regain confidence in financial markets and our banks when those institutions are held to the same standards and ethical practices we expect of homeowners. Until that time, interest rate cuts and bank bailouts simply throw more money into the fire.

Nathan Springer

Whittier