Nov. 21 Letters to the Editor

Use common sense

Here we go again, wasting the taxpayers’ money. Your front-page article on dredging the Cowlitz River indicates that this is a temporary solution. Sooner or later the U.S. Army Corps of Engineers is going to run out of space to put the spoils, and then what? The last dredging only lasted about a month. How long will this last with the rainy season coming?

The Corps even says, “It doesn’t solve the problem, but it allows material to be moved down stream somewhat.” How long must this go on when most people know the problem lies at the source? Why don’t they start dredging at the old and now useless Barrier Dam? There is a lot of room for spoils up there. If a mile of dredging doesn’t help, what good is a half mile going to do? The dredge operators even tell you the silt fills in as fast as it is removed. How about using some common sense.

Richard Graham

Kelso

Veterans Day

Please help me to understand. Why do all schools, banks, state agencies, etc., close or shut down for Veterans Day? Are all the teachers and students in the schools veterans? Are all the banking employees veterans and are all the state agency employees veterans?

The many vterans that I know and have met very seldom are able to have the day off from their jobs of employment, unless they work for the above-listed agencies. Is this what we know as honoring our veterans or active duty personnel? Just wondering.

To the men and women that I share the title of “veteran” and to each and every active duty military person, I salute you and thank you from the bottom of my heart for your service to our great nation. God bless each and everyone of you, and God bless America.

R.E. Simon

U.S. Army (1967-1971)

Longview

Industry is not ‘predatory’

This letter is in response to the Nov. 16 article on plans for a community bank.

Payday advances are small, unsecured, short-term loans, usually due on the borrower’s next payday. The average loan is $300 and the typical fee is $15 to $17 per $100 borrowed.

Payday advance compares favorably to many consumer alternatives, even when expressed as annual percentage rates for two-week terms: $100 payday advance with $15 fee is 391 percent APR.; $100 bounced check with $55.59 NSF/merchant fee is 1449 percent APR; $100 credit card balance with $37 late fee is 965 percent APR; a $100 utility bill with $46.16 late/reconnect fees is 1203 percent APR; a $100 off-shore Internet payday advance with $25 fee is 651.79 percent APR; $29 overdraft protection fee on $100 is 755 percent.

In most of the 35 states that regulate payday lending, rollovers or loan extensions are either limited or prohibited. In states without limits, CFSA members limit the number of rollovers to four. It is not possible for someone to rollover an advance for an entire year or to accrue the kinds of fees claimed by payday lending critics.

We support educating and providing solutions for customers who may have become over-reliant on the service.

The term “predatory lending” is often used incorrectly to describe sub-prime financial services, including payday advances.

Tommy Moore

Executive Vice President

Community Financial Services Association of America

Alexandria, Va.

Tax credit snafu

Didn’t you just love the headline, “Millions must repay part of tax credit”? This payback is because of the serious miscalculations in President Barack Obama’s tax break, which was designed to put money in consumers’ pockets and, thereby, stimulate the economy.

But do you get it that we, the general public, are the ones suffering the consequences of such an ill-conceived plan? Yep, that’s what’s happening.

And just think, it’s these same planners in Washington, D.C., who want us to believe that they can best manage our health care system and even save us money.

As John Stossel would say, “Give me a break.”

Gladys Morey

Longview