Letters to the Editor

Readers write about correcting the financial sector's collapse, converting the US Embassy in Iraq into a university, why Senator Biden said that President-elect Obama would 'tested,' and speaking up if an ad offends you.

Let market forces resolve the US credit crisis

Regarding the Nov. 5 Opinion piece, "What's really burning down the financial house": Natural market forces should be used to correct this matter. Why bail out institutions that made grave mistakes and floated investments with inadequate funds to support them? When a Main Street gambler loses, no one comes to bail him out, despite his legitimate effect on the economy.

I propose letting market forces resolve the banking institutions' failures by letting them be fully exposed to the consequences of their ill-fated gambles. In other words, let capitalism do its job. After all, a market economy should not have allowed for the trading of intangibles.

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Michael Wolf
Colfax, Wash.

Mr. Lange was correct in his description of the cause of the financial collapse in the world. I think he is right in his call to buy the foreclosed mortgages and refinance the other mortgages to a fixed-rate loan. In addition, I think the US government should declare all of the credit default swaps null and void. As noted by Lange, the value of these swaps are more than the world can afford to pay.

We need to stop teaching free-market capitalism as a valid economic theory in our schools. Not having enough laws or regulations for the exchange of goods and services or the investment of other people's money is unworkable. A bank or a business is the sum of the people running it. At times, even the best people make unwise decisions. That is why we need to have reasonable rules and regulations for everyone who handles the public's money.

Luther Browning
Corpus Christi, Texas

Yes to US Embassy as an Iraqi school

In regard to the Nov. 4 Opinion piece, "A bold step for US goodwill in Iraq": Author Adil E. Shamoo's suggestion that the US Embassy in Baghdad be turned into a university as a means of contributing to Iraq's socioeconomic development is absolutely brilliant. Let's hope that this idea catches the attention of our new president. The magnificent symbolism of the gesture and the concrete benefits it would produce are starkly clear.

Al Edgell

Political science adjunct instructor

Kent State University

Kent, Ohio

Biden not alone in warning of a test

Regarding the Nov. 3 Opinion piece, "A closing argument for John McCain": In criticizing Sen. Joe Biden's declaration that the world will test President-elect Barack Obama, the authors seem to have forgotten that when Joe Lieberman appeared on "Meet the Press" he, too, said that the next president would be tested. Senator Lieberman made this comment when he thought he was going to be the vice presidential candidate. He was making the point that John McCain would be best suited to rise to the testing, the same point that Senator Biden was making about Senator Obama.

Cathy Liska
La Habra, Calif.

Speak up if ads offend you

In regard to the Oct. 31 Opinion piece, "Offended by bawdy ads? Take a stand": Thank you for Judy Gruen's insightful piece on offensive billboards and ads. Why does our culture feel the need to make everything public, dirty, and shameful that should be private, respectful, and beautiful?

Karen H. Phillips
Flintstone, Ga.

The Monitor welcomes your letters andopinion articles. Because of the volume of mail we receive, we can neither acknowledge nor return unpublished submissions. All submissions are subject to editing. Letters must be signed and include your mailing address and telephone number. Any letter accepted may appear in print or on our website, www.CSMonitor.com. Mail letters to Readers Write and Opinion pieces to Opinion Page, 210 Massachusetts Avenue, Boston, MA 02115. E-mail letters to Letters and Opinion pieces to OpEd.

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