y Some facts I think are important, prior to losing every cent of my lifes savings which culminated in the last

quarter of 2010 the following should be noted. 1. Throughout my working years, raising 2 children, the purchase of several cars, paying the mortgage, and paying off all miscellaneous purchases over a 40 year period, not once was I late for any payments and never did I bounce a check. In the old days we had to have a down payment to purchase a house. God forbid getting behind in the mortgage. I was taught My Good Name was something of value; something to be proud of.

2. I saved my money and never lived above my means. 3. The money in my Portfolio was more than substantial to see me through my retirement years. 4. My Portfolio was managed by Smith Barney. Smith Barney was owned by Citi Group. I had too much stock in Citi. Most was Preferred which cost me $90.00 a share. In mid 2009 I watched the price per share of my assets fall to $5.40. 5. In a letter from Smith Barney dated October 17, 2008 it read in part, As an integral part of the overall Citigroup family, Smith Barney offers a degree of financial strength and resources virtually unmatched in todays climate. As evidence, accompanying this letter, you will find notification of an important enhancement we are making to our Band Deposit Program. This enhancement will provide you with increased FDIC-insurance coverage.

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Less than a month later, I got a letter from my Smith Barney broker, dated November 8, 2008, in which I was told Citi sold Smith Barney and that I could move my assets over to Raymond James with no changes to my Portfolio. 6. In a report dated May 12, 2009 the amount of Citigroup TARP loans were nearing the $45 billion mark. Courtesy of the Tax Payer. 7. According to the Conclusions of the Financial Crisis Inquiry Commission (FCIC) there are more than 26 million Americans who are out of work, cannot find full-time work, or have given up looking for work. At the time of the report it noted about 4 million families have lost their homes to foreclosure and another 4 and one half million have slipped into the foreclosure process or are seriously behind on their mortgage payments. Nearly $11 trillion in household wealth has vanished, with retirement accounts and life savings SWEPT AWAY. Seniors are feeling the sting of a deep depression. There is much anger about what has transpired, and justifiably so. MANY PEOPLE WHO ABIDED BY ALL THE RULES NOW FIND THEMSELVES OUT OF WORK AND UNCERTAIN ABOUT FUTURE PROSPECTS. THE COLLATERAL DAMAGE OF THIS CRISIS HAS BEEN REAL PEOPLE AND REAL COMMUNITIES. AND THE NATION FACES NO EASY PATH TO RENEWED ECONOMIC STRENGTH. 8. Lenders made Home loans that they knew borrowers could not afford and that could cause massive losses to investors in mortgage securities. The borrowers knew they could not afford their mortgages. For the last 2 years the Federal Government has been jumping through hoops to provide

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initiatives and free money to untold numbers of homeowners facing down the barrel of foreclosure. 9. The Housing Bubble burst and Wall Street fell to its knees. In this process I LOST MY LIFE SAVINGS. MY HOME, WHICH I OWN, HAS DEPRECIATED BY $80,000.00. The old saying was dont sweat putting money in to your Home, because it will never depreciate.

Like me, so many friends of my gender and age i.e. female, single and 61 or 62 years of age, started running up the credit cards in 2008 so we would not have to sell our stock at huge losses. We had faith that this was a short lived recession and when the economy became healthy we could liquidate some stock without losing our rear ends and pay off our credit card balances. WELL OBVIOUSLY THAT DID NOT HAPPEN. THE ONLY INCOME I HAVE IS SOCIAL SECURITY DISABILITY WHICH IS $952.00 A MONTH. IF OBAMA DOES NOT GET HIS WAY AND THE DEBT CEILING IS NOT RAISED ON OR BEFORE AUGUST 2ND, 2011 THE PRESIDENT WILL NOT PROMISE THAT OUR SOCIAL SECURITY WILL BE DEPOSITED FOR THE MONTH OF AUGUST 2011. I am on Public Assistance; help from MedicaidI get $16.00 a month in Food Stamps. May seem small to you, but to me every cent helps. In the year 2010 my Prescription Drugs added up to $12,000.00. Medicare Plan D paid about half, and I paid the other half. Just one of my prescriptions for a 30 day supply cost me $800.00.

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Medicare deemed me Medically Needy and has been helping me out with the monthly premiums for Plan A, B and D. Also, for covered prescription drugs most cost me $2.30 for a one month supply and no more than $6.30 for a 30 day supply.

I am challenging the charges on my Sears Credit Card owned by Citi. In my opinion Citi acted fraudulently with its high risk investments bankrupting many shareholders. Citi has the power to write off the account balance in question. In all fairness I dont think I am asking too much. A copy of this letter is going to Citi, the SEC, the New York Federal Reserve and the Federal Reserve along with other sentries who looked the other way.

X
Constance J. Carnahan Card Holder

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