Inbox
Depression Hurts
The end of what prosperity [Oct. 13]? For more than 20 years, working- and middle-class Americans have seen their jobs go overseas, wages diminish and savings disappear; they've had retirement funds stolen by companies going bankrupt or merging, and health care made unavailable as a result of cost. Suggesting that borrowing to live is the cause of the Wall Street collapse when the 400 richest people in the U.S. have as much money as several million average citizens shows ignorance of the greed and avarice controlling this country. Paul A. Heller, WASHINGTON, MICH.
Nowhere does Niall Ferguson inform readers that under the Clinton Administration, the Internal Revenue Service began giving out Individual Taxpayer Identification Numbers to assist illegal aliens in paying taxes, which also enabled them to take out home loans. Previously, a valid U.S. Social Security number was required to purchase a home, thereby excluding illegal immigrants from qualifying for such loans. Every media feature on the bursting of the housing bubble describes decimated neighborhoods in Florida, Arizona and California--all areas with large populations of illegal aliens--but no one tells us about the government's change in regulations that may have helped bring this situation about. Kathryn Bell, FRISCO, TEXAS
Your cover is a direct insult to those who lived through the Depression. If we can still spend $300 on an iPod, times can't be so bad. Yes, the economy is slowing, but not as severely as TIME has illustrated. John Nicoletti, NAPLES, FLA.
Bailout 101
I am a high school girl who usually flips straight to the Arts section of TIME, but I read Justin Fox's Q&A about the bailout, and I think it was really smart to boil it down that way [Oct. 13]. Even I understood most of it. Still, for me, the obese elephant in the room is the question of where all the money went in the first place! Sara Makaretz, YARMOUTH, MAINE
I'm shocked you would place so little blame on the people who borrowed more money on their homes than they could possibly pay back. I agree that the lenders were silly and that Congress should not have strongly encouraged such lending. Yet people effectively became speculators in home values rather than homeowners borrowing to finance a purchase. Peter Sallerson, NEW YORK CITY
Once upon a time, the Mantra was, Get a job, maybe two, and save. Building a cash reserve was required to obtain decent credit. One's work and savings history became one's credit rating. Why should we bail out lenders unless they can perform reasonable risk assessments? Lenders once insisted that consumers demonstrate a responsible financial history before lending. What has happened to this commonsense approach? Susan Staudt, WAUKESHA, WIS.
Newman's Own Legend
I enjoyed reading Robert Redford's tribute to Paul Newman but was disappointed that Redford felt the need to interject so much about himself [Oct. 13]. He should have kept the focus entirely on his exceptional and talented friend. Mary Knaus LeCluyse, LEAWOOD, KANS.
I'm glad I didn't know Paul Newman. It is hard enough to lose him, as millions of us did, as the fine actor that he was and as an example of what we Americans should be. Take care of yourself, Mr. Redford. You're too good to lose. Hunter A. Poole Sr., RALEIGH, N.C.
The Frugal Life
I commend Nancy Gibbs for using her column to state what we are unlikely to hear from any elected official: that thrift is an important virtue and that our failure to practice it has helped bring on the current economic collapse [Oct. 13]. Those who lived through the Great Depression endured a scare that prompted them to scrimp and save, something the current generation does not do. Now Americans generally believe they are entitled to whatever they want without regard to whether they can afford it. The list of what we have come to consider necessities would stun those from most other parts of the world. Oren Spiegler, UPPER ST. CLAIR, PA.
Maverick vs. Cool Hand Luke
Joe Klein's piece on Obama's skills in crisis management shows how blind he is [Oct. 13]. Obama speaks with calmness simply because he doesn't know what to say, while McCain speaks with anger because he has so much to say. McCain is angry at what the Democrats and the Wall Street executives have done to deceive the American people. I pray that the American people will listen to McCain's anger and endorse what he will do as President: freeze spending and cut pork-barrel and other unnecessary spending. These steps are essential for the American people. John Talerico, MIDDLETOWN, N.J.
We have had the cowboy. We don't need the maverick sheriff with his "have gun, will travel" foreign policy. Our problems cannot be solved in a quick-draw contest. It is time for all Americans to accept personal responsibility for our part in what is happening to our country. We must vote and then pay attention to what our elected officials do. We all need to become better crisis managers of our own personal lives and finances, and of the natural resources of our world. Linda Bracken, WAGONER, OKLA.
The Palin Mystique
Michael Weisskopf and Nathan Thornburgh's "Pipeline to Nowhere?" enlightened me on several levels [Oct. 13]. First, although paying her constituency understandably enhances Sarah Palin's popularity, it chafes me a bit. Doesn't Alaska belong to all of us? Why should part of the price I pay at the gas pump go into an Alaskan's pockets just because she lives there? Second, the story demonstrates Palin's worthiness to be McCain's running mate, since they both overstate their accomplishments. Vince Sigman, MALTA, OHIO
The Public Mistrust
Re Michael Grunwald's piece on how Washington failed us: I'm neither Republican nor Democrat, and I am disgusted with both [Oct. 13]. Both presidential candidates want to blame Wall Street, and there is surely some merit to that. But the heart of the problem rests with Freddie Mac and Fannie Mae, two quasi-government corporations. Despite several attempts by legislators to call attention to the impending crisis, lawmakers like Senator Christopher Dodd--the No. 1 recipient of campaign contributions from Fannie and Freddie--preached the soundness of these institutions. This is not a failure of the free-market system; it is the failure of big government and its manipulations. Jim Vance, BIRMINGHAM, ALA.
Your Wrist, Your Cause
"A Brief history of: bracelets" was interesting, but as a breast-cancer survivor, I found the omission of the pink bracelet insensitive to thousands of women, men, families and friends who have experienced or will experience this disease [Oct. 13]. Debby Tompkins, WESTFIELD, MASS.
You left out the most important bracelet. And October is Breast Cancer Awareness Month! One woman receives a breast-cancer diagnosis every three minutes, and one woman dies from it every 13 minutes. We should remember this in October and every day. Sharon Stinson, BOSSIER CITY, LA.
My wife and I read TIME's article about hero bracelets with great interest. These bracelets were very special to us during the 14-month period our son Michael was deployed in Iraq. When I told people I was getting the bracelets, everyone seemed to want one. So Chris Greta produced 300 bracelets with Mike's name on them. Our family, friends and co-workers found they helped them to remember Mike and pray for him and the rest of the troops. Thankfully, Mike and his cavalry unit are back home safely. We wear our bracelets with pride in honor of those who do so much for us. Matthew Barany Sr., WOODBRIDGE, N.J.
The New Face of Tuberculosis
Your poignant, powerfully illustrated piece on tuberculosis reminded me of pictures from history books about the 1918 Spanish-flu outbreak [Oct. 13]. Why is the world still ignoring this deadly disease? Thank you, TIME, for reminding us that TB should be a greater medical priority than advances in cosmetic surgery. I hope the pharmaceutical industry can engineer new drugs against this killer. Aniee Sarkissian, GLENDALE, CALIF.
Stop Falling All over High Heels
"Heeling power" gives various explanations for why women choose to wear stiletto heels but ignores serious and feminist analyses of the sources of this so-called choice [Oct. 13]. The style can be viewed as analogous to the old Chinese tradition of foot-binding in its restrictions on comfort, mobility and even safety in the name of a socially constructed "femininity." I will never wear them. Does pole-dancing also signal this convergence of feminine beauty and authority? Cerise Morris, MONTREAL
Growing Pain or Comeback Kid?
Kirk Cameron topped your Pop Chart as most shocking for his role in Fireproof, a movie that promotes fidelity [Oct. 13]. The copy quips, "Don't call it a comeback. Because it's not." I believe it is an important comeback. Fireproof is an independent film that has the potential to help restore relationships and give real hope. When was the last time Hollywood offered that? Michelle Radford, GREENVILLE, S.C.
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