I just saw the letter and could not resist to write about it.
http://swatantran.blogspot.com/2008/07/ieee-wants-its-students-to-be-slaves.... Its not complete/formated but i am in a hurry now:)
also Vote it here;-) *http://www.fsdaily.com/Community/IEEE_wants_its_students_to_be_slaves*** thanks Shyam K