Letters to the Editor
I note from the local paper that Jeff Sessions has anointed himself keeper of the nation's "financial soul"
(Mobile Press-Register 1/30/09).
It is unfortunate that Jeff’s political loyalty blinded him to the peril to our country's soul at an earlier time. Had he been independently on the watch, not merely a second to Bush and the president’s fatally selfish obsession with Saddam, he would have realized that our soul was scarred as never before in history by Bush's Iraq War which squandered hundreds of billions of dollars, lost the lives of more than 4,000 of our young men and women, and blinded or maimed or otherwise disabled for life more than 25,000 of our soldiers and volunteers.
Jeff's use of the phrase "financial soul" implies that he knows something about finance, but he ignored mortgages, both prime and sub-prime, so greedily deficient that they form today the root of a worldwide recession. Nobody in or out of government sounded enough of an alarm to cause an examination of a mortgage system that was toxic to its core and bound to end badly. That is a puzzling failure in itself, but it is totally incomprehensible that derivatives of the mortgages in various forms were approved by debt rating agencies, accepted by various financial bodies, and sold to sophisticated bankers over most of the world.
The outcome of this sequence of political and banking failures looms as the worst recession since the Great Depression. Workers laid off or fired, long established businesses closing down, unemployment growing, all pointing, unthinkably, toward mass hunger when unemployment insurance runs out.
Jeff, among other “leaders,” needs to be reminded that this is no time for "Master of the Universe" drivel. People -– our neighbors, our countrymen -- are hurting. The hurt is real and growing by the day. Washington has to help. Now.
-- Pierre Pelham,
(Editor's note: U.S. Sen. Jeff Sessions was offered an opportunity to respond, but he did not.)