Opinion - Letters to the Editor   

On U.S. economy

The crises that are waiting to hit the U.S are credit card and student loan defaults (“U.S. economy — it’s business as unusual,” Dec. 27). With rising unemployment, it will be impossible for students to repay the high-value loans, and the common man to repay the credit for his day-to-day living.

Although the Federal Reserve is taking bold monetary measures through bailout packages and cut in interest rates, the financial system will start functioning properly only when the trust in credit-rating agencies, banks, financial institutions and, more importantly, financial wizards is restored. How much time this will take is a matter of speculation at this stage.

Jeetendra Singh,

New Delhi

Tarun Girdhar,

Chandigarh

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