Letter from Henry Lowenstein to WashPost,9/30/08

Lowenstein of New York wrote to the Editor apropos of The House's Bailout Bill Vote as published on September 30, 2008 on page A18.

"This action will have a severe domino effect; we will see not only the failures of many more financial institutions but also municipalities, automobile and airline companies, and many small businesses. There will be virtually no credit extended by banks to other banks; to large and small businesses; to people who need home, auto and college tuition loans, and entrepreneurs who need credit to start and run new business ventures. Millions of jobs will be lost, and more millions of Americans will default on their mortgages,credit card debt and other obligations. Other nations, especially China, which holds roughly $1 trillion of our debt, will be greatly affected as the dollar becomes all but worthless." My comment: US dollars will never be worthless since it is almost international currency in terms of the status of US Dollars in the world even though US Dollar suffers some loss as known nowadays. When we look at the paper currency on one side,we read 'This note is legal tender for all debts,public and private' with savvy! On the other side, 'In God we Trust' We must have faith, hope and charity for Uncle Sam now and in the days to come in the 21st century. Here is my positive scenarios for Sino-American Economics.

Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China to USF in San Francisco(1947) and to Georgetown Graduate School in 1948 to learn the good things in America(read Pin Yin below) and disregard some undesirable events/ unhealthy situations in USA as a lifelong learner for knowledge and wisdom. Sept. 30, 2008 at 11 a.m.
In Pin Yin: "Xuanze haode xuexue ba."