Dear Editor: I am writing in response to a letter by Mr. Long in the Aug. 20 Covington News. I have read some of Mr. Long’s past letters and usually just shake my head at his arrogance, but this time I felt compelled to respond. His knowledge and breakdown of the current economic situation involving local foreclosures was impressive, mind boggling to say the least. I am amazed that he is not on CNN or Fox providing commentary.
The things that we are seeing take place are historic in magnitude; some of these events are a result of the government and banks caving in to special interest groups to provide loans to a segment of our society. In the past these loans would not have been made. He commented that foreclosures connected to local law enforcement officers might be a possible violation of city personnel regulations. Instead of an officer scheming to defraud a bank, it is possible that this officer took a business risk and was trying to obtain some rental properties as a retirement investment so that his children might inherit something other than a riding lawn mower and a fishing boat. It is possible that people in the rental properties became unable to pay their rent, and over time the property went into arrears and foreclosure. The officer, like many, many other people has been impacted by what has happened, but he was taking a risk, the same risk he takes everyday when he goes to work. If we paid these type of people more money, he might not have to take an investment risk like that.
As a society we save our big paychecks for more important people like trashy sports figures, foul mouth singers and other "valuable" people. The people who protect our homes and teach our children are low on our priorities. As for the officer or anybody else who took an investment risk, my hat is off to them. That’s what turns the wheel of our economic system. It’s all a risk — banking, insurance, driving, operating a newspaper, being a police officer. If business people stop taking risks, the wheel stops turning and things become bleak, much like what is happening now.
So, Mr. Long, sit at a typewriter in front of a window unit air conditioner in your little ranch home that is probably debt free and take it easy. Relax, the risk takers will keep things going for you.