I would like to extend a deep congratulation for your 30th anniversary meeting in New York on June 15. At this critical time of the history, it is so important that unselfish people work together towards the common welfare of all people on this earth.
It is well known from our experience in late 1990s that recovery from an economic crisis triggered by financial crisis requires special subscription. A cleaning of the banking system, with substantial change in management of major banks and with pursuit of responsibility of management, is a precondition of the bail-out of banks and restoration of confidence in the financial system. A fundamental streamlining of the financial system by reintroduction of the Glass-Steagall Act is essential to avoiding repetition of the mistakes made by Wall Street to gamble with depositors’ money. A battle against Wall Street is an urgent task for us, to defend our lives.
After restoration of confidence in financial system, a large-scale fiscal stimulus is necessary to create real demand and increase the welfare of whole world. One example is the idea of a new canal at the Kula Narrows in Thailand. Financial resources have to be mobilized for such purposes, rather than gambling by Wall Street.
Power has to be brought back to Main Streets from Wall Street. I hope that you will win in the battle soon.
With best regards,