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From: Donald A. Collins, Jr. (e-mail him)
My wife and I are fortunate to work everyday in challenging jobs not yet eliminated by globalization. Our income derived from them supports high taxes, a mortgage, and crushing college debt for our children's education. We live a simple but honest life.
Henry Paulson's Treasury Department team of 108,695 people has a 2008 budget of $13.9 billion.
At the Federal Reserve, Chairman Ben Bernanke's has a staff of 21,199 people with a 2008 budget of $3.43 billion.
That averages $128,000 per Treasury employee and $162,000 per Federal Reserve employee.
Didn't Paulson and Bernanke have access to a financial model that they could use to predict our impending liquidity crises? Isn't there such a thing as a financial ecosystem defined by the movement of money and assets that our US government studies? If not, I'm sure the Chinese could provide us with one.
This week I called my Congressmen and presidential candidates to ask them not to overreact to the Wall Street crisis but to instead reauthorize E-Verify because we must limit immigration first.
In July, the House passed an E-Verify reauthorization bill (H.R.6633) by a vote of 407-2, but the Senate has not brought the bill to the floor.
Rather than bringing H.R.6633 to the Senate floor, Members of the Judiciary Committee and Senate leadership have been debating the addition of extra visa provisions to an E-Verify extension bill. Senator Harry Reid is blocking the bill and this will cost the U.S dearly.
After we control immigration, then we can regulate banking and Wall Street again.
Collins lives with his family, works as an engineer and is on the Advisory Board of FAIR Federation for American Immigration Reform. His father, Donald A. Collins, is a VDARE.COM contributor.
