Interest Rate Hikes

Re “Fed Again Hikes Interest Rates,” Feb. 2:

It’s time that something is done about the Federal Reserve Board. Voters have given Congress and the President a wake-up call on how they do business, yet the Federal Reserve Board led by Alan Greenspan and his cronies didn’t get the message. There need to be some major changes in the personnel and operation of the Federal Reserve Board. They are still operating as puppets of the wealthy, which is shown by their actions currently and in the past.

I suggest a class-action suit be instigated against Greenspan and his cronies on the board for several billion dollars to pay back all the Americans who are getting money taken out their pockets by their phony actions. It also should include asking Congress and the President to replace the board with people who represent us, not personal interests.

DAVID H. RIEGER

Sherman Oaks

* Why it is that when we get a Democratic President, who is supposed to be for the middle and poorer class of people, we right away see interest rates go up to make the big-money people richer and the working people suffer through bigger home payments, car payments, etc.?

Are we headed for another Carter Administration interest-rate fiasco when it was almost impossible to buy a home? Whether the President realizes it or not, people are taking pay cuts, losing their jobs and losing their businesses. Under the guise of controlling the economy, the Fed is only helping his wealthy friends and hurting the average citizen.

CHARLES ALMQUIST

Dana Point