I have a decent batting average on letters to the editor in the WSJ, but my last two were misses. Here's one (I thought this one had a decent chance of running):

To the editor:

Your article “Big Slide in 401(k)s Spurs Calls for Change” (Jan. 8) reports that “Many retirement experts have come to a similar conclusion: The 401(k) system, which has turned countless amateurs into their own pension-fund managers, has serious shortcomings.” Perhaps.

On the other hand, the recent market downturn has also resulted in big losses for many funds managed by professionals. Harvard, for example, is widely reported to have suffered large losses to its endowment, and star mutual fund manager Bill Miller’s Legg Mason Value Trust is down by half (a loss larger than that experienced by the people profiled in your article) over the past year.

Instead, what is needed by both amateurs and professionals is an end to the unsound monetary policy and other imprudent government actions that deserve much blame for the current crisis.

E. Frank Stephenson
Chairman, Department of Economics
Berry College
Rome, Ga.

The second (not too bummed over this one being rejected):

To the editor:

The contention (“Toyota Delays Mississippi Prius Factory” Dec. 16) that “Congressional efforts to provide loans [to Ford, GM, and Chrysler] failed this month mainly due to opposition by Republicans from Southern states that are home to foreign auto plants” is simply incorrect. The five Southern states with foreign auto plants (Alabama, Georgia, Mississippi, South Carolina, and Tennessee) have only ten Senate seats, far short of the 41 that would be needed to block loans via a filibuster. Fortunately, the ten Southern Republican senators were joined by many of their colleagues who, for a welcome change, decided to protect taxpayers rather than fleece them.

E. Frank Stephenson
Chairman, Department of Economics
Berry College
Rome, GA