To the Editor:
I have no argument with Joseph E. Stiglitz’s assertion that the taxpayer is the loser in the Obama administration’s bank bailout. Equally true is that the money has to come from somewhere to recapitalize our financial institutions, which benefits everyone. My hope is for a more progressive tax code that makes the well-heeled beneficiaries of the bailout pay a fairer share of their winnings for the common good.
Michael Colacchio
San Anselmo, Calif., April 1, 2009
