John Milovich of San Francisco in his letter to the New York Times editors had this to say:

"Thomas L. Friedman's comments were scathing.  Many became wealthy, indeed fabulously wealthy, on the ignorance of borrowers and the opportunity of lax regulations.  The risk was bundled and sold on down the line.

"But the damning fact remains.  The equity of the wealthy who profited from this consensus greed is going nowhere, while this winter promises to be colder and darker for the rest of us as we open our pocketbooks to pay for it all."

J. Michael Gatch of Birmingham, Alabama in his letter to the New York Times editors explains: