Re: “Don't throw good mortgage money after bad,” editorial, April 7

In principle, I am opposed to bailing out market participants who brought grief down on their own heads, but the illiquidity of the mortgage markets is causing a lot of economic damage. I would leave them all out to hang if their pain didn't translate into even more pain for the rest of us.

Recently, we saw mortgage rates rise as the Fed cut its rates due to Bear Stearns' near collapse. While I think House Financial Services Chairman Barney Frank's approach is ill-advised, there are a lot of things we can (and should) do to prevent spillover from the subprime mess.

Some places have guaranteed (and paid the interest on) 10 to 20 percent of qualifying mortgages if the lender would mark them down to fair market value, in which case the mortgagor must share 10 to 20 percent of any gain. These would be for owner-occupied homes where the owner could afford to make the payments on the remaining mortgage.

Lenders can either cut their losses and sign up or they can subject themselves to the tender mercies of the free market they cherish so much — until it moves against them and they find themselves asking for bailouts at the taxpayer's expense.

As a deficit watcher, I am apoplectic about the four-year tax carry-back. I wonder how many lobbyists it took to screw in that particular lightbulb.

Chris Lieu

Washington

Transgender bill puts women, children at risk

Re: "Council member says she's getting death threats over legislation," April 3

Since last November, Montgomery (County) Councilwoman Duchy Trachtenberg has been claiming she's received death threats over her sponsorship of the transgender rights bill. You'd think that charges against the perpetrators would have been filed by now.

The rub is that Mrs. Trachtenberg would deny security for the women and girls of Montgomery County, whose safety may well be jeopardized once her bill takes effect. The bill gives a man the legal status of a woman if he perceives himself as such. In the “old” days, such an individual would have had to undergo sex change surgery. Now, perception is reality.

Although the bill's proponents dispute this, men who “feel” they are women most probably will gain legal entrance to female restrooms, locker rooms and shower rooms at community swimming pools, private health clubs and other public accommodations. Given the vague definition of what constitutes a transgender, is it much of a leap to imagine that voyeurs and pedophiles will be first in line to take advantage of this “non-discrimination” bill?

Mrs. Trachtenberg has repeatedly addressed this concern by telling her constituents that there are laws against peeping Toms and pedophiles. But as any victim of a crime knows, laws don't protect — they only punish.

The bill is up for referendum next November because over 30,000 voters, who understand its potential harm more fully than the councilwoman does, have signed a petition to put it on the ballot.

Alberta Bertuzzi

Derwood

Clinton’s dirty fight hits Obama below the belt

Re: “Is Hillary Clinton like Rocky on race?” April 3

Chris Stirewalt is correct when he says that Hillary Clinton pretends to be Rocky when she admits that she “is in this race to the bitter end,” but does not discuss how she has been berating and persecuting Barack Obama, and condemning him for the things the Rev. Jeremiah Wright said about America just before he retired from the pulpit.

Clinton has also been claiming that Sen. Obama cannot win so that she can get more superdelegates on her side. Using these dirty tactics just to win an election should leave a very bitter taste in the mouth of every member of the Democratic Party.

I hope the people of Pennsylvania will see this for what it is and vote with their conscience for either Obama or John McCain.

Stephen Schwartz

Silver Spring