Cranston’s Bill to Aid Lincoln Bondholders Recover Funds

I am outraged at the proposal by Sen. Cranston for the federal government to bail out the bondholders.

It seems to me that he is desperate in his attempt to avoid his share of the responsibility for the Lincoln collapse and subsequent scandal by shifting the financial burden to taxpayers who had nothing to do with this sordid problem.

While I can sympathize with those investors who lost money by their ill-considered purchase of Lincoln bonds, I believe that it is only fair for those investors--sad as it may be--to suffer their losses in the same way as I and many others have for our poor investment decisions. If not, am I now free to assume that Cranston will carry a bill in the Senate to reimburse me for any of my stock market losses, particularly those suffered in the October, 1987, crash? Certainly there must be someone in the federal government, possibly in the Securities and Exchange Commission, who is truly responsible for these losses!

So quit trying to pass the buck, Sen. Cranston.

LEONARD WILLIAMS

Manhattan Beach