Everyone can learn from the financial crisis What is the real cost of the bailout for taxpayers? Small firms getting away with not returning money

The article “Market mess greets stunned new advisers” that appeared in the Nov. 3 issue is highlighted by…

The article “Market mess greets stunned new advisers” that appeared in the Nov. 3 issue is highlighted by one statement saying that the crisis has been a huge learning experience for a young financial adviser.

The word “young” could be removed from the statement.

Bill Jafvert

Registered financial consultant

Woodbury (Minn.) Financial -Services Inc.

After reading the comments from Rodgin Cohen, chairman of New York-based law firm Sullivan & Cromwell LLP, that appeared in the Nov. 17 issue article “$700 billion bailout is inadequate, top executives say,” I was scratching my head, which I have been doing a lot these days.

The taxpayer bailout of the financial industry has turned into a political football.

By my calculations, $700 billion amounts to $5,000 per taxpayer household.

I find it troubling that Mr. Cohen, who “has been in the thick of arranging capital infusions and other rescues for banks,” is calling for more taxpayer money, while Treasury Secretary Henry Paulson doesn’t even have a plan as to how it will be spent.

Maybe Mr. Cohen has his own plan.

I would like to see a story about the real cost of the bailout for taxpayers.

The media does enough reporting on the government, lobbyists and “top executives.”

What about the people paying the bills in this mess?

Brian A. Schreiner

Vice president

Schreiner Capital Management Inc.

Exton, Pa.

Thank you for the article “Small firms caught in ARS buyback vise,” which appeared in the Nov. 17 issue.

Since my letter appeared in the Oct. 20 issue (“Many ARS investors are small fry”), UBS AG of Zurich, Switzerland, did in fact buy back my remaining two auction rate shares, and I am finally free.

But I am staying involved for the sake of all the other auction rate securities victims who aren’t so lucky.

I am dismayed that smaller firms are getting away with not giving back stolen money.

Some companies are trying to convince state regulators that they will go under if they give ARS money back, but it isn’t their money, and I am not sure how much of that is posturing.

However, your article leaves me greatly encouraged that the Financial Industry Regulatory Authority Inc. of New York and Washington is still working on the problem and that the evidence against these smaller firms is strong.

That will hopefully count for something.

There are so many desperate people still waiting as they approach a full year without access to their own cash.

I personally appreciate your continuing reporting on this matter.

Lauren Kaplan

Individual investor

Nashville, Tenn.