The Dow dropped 6.2 percent last week, American companies are bleeding 600,000 jobs per month, and whole economies are crumbling under the weight of the global recession. At a time that clearly demands American leadership, Mark D. Wallace (“Reverse ‘oil weapon’ on Iran,” Op-Ed, Friday) proposes bold action on the part of all Americans - that will make everything worse.
Mr. Wallace’s United Against Nuclear Iran proposes that Americans sell off their stock in major companies, turning as-yet-unrealized losses into real money down the drain. All because these global businesses may do some indirect trade with Iran - something U.S. law does not prohibit.
To be clear, the Iranian government’s nuclear program, human rights violations and support for terrorism are all serious concerns. However, punishing American workers - in the middle of the greatest recession since the 1930s - shows reckless disregard for the immediate problems of ordinary Americans. The solution to the Iranian challenge lies in working with our allies - not punishing their companies or our own work force.
National Foreign Trade
National Iranian American Council