To the editor:
The greatest bump on the road to economic recovery is the unending supply of uncertainty shoveled out by Washington. Who wants to take an economic risk today if Washington may provide a way to avoid or minimize it if we all just sit tight?
The “worst case meltdown” scenario is played daily in Washington, presumably to show great leadership in a crisis, but with an eye on garnering more party votes for the future. Meanwhile, nothing is said there or in the mainstream press that failure by one is often a significant opportunity for another. Denying failure through delay and/or unsound financial avoidance, which lays the seeds for future failure, only extends the width, depth and length of the malaise. This is greatly compounded by everyone waiting for the next shoe to drop in Washington.
Except for throwing out special-interest restraints on trade, eliminating business taxes and ensuring that strong anti-monopoly regulations are in place, Washington should shut(ter) up if a quick recovery is desired.
Alternatively, turn it all over to Wal-Mart and get out of the way.
To the editor:
So many people are enraged by the president’s proposed bailout of homeowners facing foreclosure.
Three months ago, I was one of those people. I thought that the bailouts were rewarding bad behavior. Really, why should my tax dollars go to help some loser who took out a loan they couldn’t afford? Personally, I took out a mortgage within my income range at a decent fixed interest rate of 6 percent with $120,000 as a down payment.
Yet now, three months later, my income has been cut by 40 percent due to layoffs and downsizing, and the house I paid $320,000 for is worth $150,000. I am not someone who got in over my head or made bad decisions. I am someone who has been overwhelmed by the current economic situation and whose housing price got weighed down by bad mortgage loans and by others being foreclosed.
I will be applying for a bailout, in terms of a reduction in my interest rate or principal, because at this point, I will do whatever I have to do to hang on to my home.
NORTH LAS VEGAS