Dear Editor, City Council
July 31, 2012
This month at our regularly scheduled Culver City Democratic Club meeting Mayor Weissman gave us an overview of the budget problems and elicited comments re same. The way it was presented felt like it was an "act of God" that had befallen us and we just had to tighten our belts and deal with it which we are willing to do.
However, I mentioned that our city and many other municipalities, states and the federal government were all ripped-off by crooks in suits on Wall Street for trillions of dollars. Few, if any, are being prosecuted and I suggested that we, Culver City, join with many cities throughout California and the nation to bring lawsuits against these crooks in suits and their banks.
Why would this be to our advantage? Well, some lawsuits have forced investigations, some fines and some restitution. If we combined with many other cities across the nation, the individual cost of the suits would be minimal. Since so few traders and bank executives are currently being sued or prosecuted, they are continuing to break laws and give themselves outrageous bonuses.
If some of them were tagged with jail sentences, fines and restitution, it could deter such fraudulent and blatant crimes in the future.
It is not an "either or situation". With the statute of limitations ticking away, a little effort now could pay-off large later on.
1. Push the Attorney General to give more funds to investigate and prosecute; and
2. Join cities that are already taking action.
Please seriously consider these actions. If you decide not to pursue them, please let the CCDC and me know specifically why.
Chair, Progressive Democrats of Los Angeles
Elected Delegate for CDP 47th Assembly District
President Emeritus, Culver City Democratic Club