Congress getting away with betrayal
To the editor:
The symptoms of the disease so far have been limited to insolvency within the banking and mortgage industry, the insurance industry and the automobile industry. The nation's response has been a hurried, incoherent scramble of government bailouts that have been disturbingly but predictably ineffective.
Although there has been the expected congressional investigative passion play, there have been no honest proposals to seek a cure to this potentially deadly economic disease. And for very good reasons.
If one is to address a cure, it is necessary to accurately identify the cause of the disease. In this case, Congress should start with a mirror. We have an unindicted culprit that is the predominant cause of this financial crisis. The culprit is government. We have a very corrupt Congress and a weak, unprincipled administration, which are a direct cause of our people's current suffering.
Our government misused its immense power to inappropriately impose its political policies upon the financial markets and the auto manufacturing industry. Banks were coerced to make loans that they knew were fiscally irresponsible and doomed to fail. Auto manufacturers were forced to produce cars domestically that the public did not want to buy, thus engaging in absurd business strategies. In essence, the nation's commerce has been subjected to big-government social engineering on a disingenuous and massive scale.
We are now watching this same government attempt to extricate itself from its massive failure, but this time with the infusion of trillions of our taxpayer dollars. Although the masochistic citizenry seems to enjoy an approaching poverty status by re-electing the same congressional leaders who caused this. Sadly, it is getting away with this betrayal.
JOHN TOBIN
LAS VEGAS
The perfect system
To the editor:
In the Review-Journal's Business section article of Nov. 13, "September brings fewer visitors to LV," Alan Feldman, spokesman for MGM Mirage, is quoted as follows: "We are going to learn as a state what a bad idea it is to be so overly reliant as a state on gaming revenues."
Although this statement may represent the prevailing view among Nevada's elite, it is so myopic and inwardly focused it is worthless.
Step back and look around. Perhaps California might learn how bad it is to rely so heavily on the up-in-smoke capital gains of the high-tech industry. Or New York with its now-deadweight financial industry. Less than a decade ago, the energy-producing states were dealing with near single-digit-per-barrel oil prices.
The United States is the greatest trading partnership in the history of the world. Different areas of our country have evolved over time to contribute based on the strengths they have. This concentration of effort is the source of the inventiveness, entrepreneurship, energy and superiority of our economic system.
The failure is not with concentration. The failure rests totally with a political, social and economic leadership that refuses to build reserves during the dominant, good times to prepare for the inevitable bad times.
There is nothing wrong with Nevada's tax system. It is, in fact, the best in the country. All it needs is a modicum of wisdom from our leadership. What do you say, noble "leaders"?
KNIGHT ALLEN
LAS VEGAS
Halverson cut loose
To the editor:
I see that former District Judge Elizabeth Halverson has finally received the official ax by the Judicial Discipline Commission (Tuesday Review-Journal).
Let's see now, she was suspended from the bench back in July 2007, and it is now November 2008. Subsequently, Ms. Halverson has collected more than a year's salary for doing nothing.
My question is why? Perhaps we should ax the commission along with Ms. Halverson for their ineptness. The commissioners let the voters do the job that they should have done. The wait for this year's election cost taxpayers more than $130,000.
Who got the worst hatchet job? The taxpayers, as usual.
Ron Moers
HENDERSON
Bankruptcy, not bailout
To the editor:
Congrats to the GOP for saying no to the auto industry bailout. The automakers and the UAW made their bed, now let them lie in it.
Bankruptcy is the answer. It will allow the Big Three to void the contracts that are killing them by making them pay $23 per hour more than their competition and for fully paid health insurance for present and former employees. The auto industry should cancel company-funded pensions entirely and institute self-directed plans [401(k)s] with defined, matching company contributions for employees who choose to participate. Employees should be made to shoulder some of the costs of health insurance plans, too.
Under those circumstances, employees would have a strong motivation to keep health care costs down and to invest in their own retirements. These changes must include management, top to bottom, as well.
Jerry Fink
LAS VEGAS
