There is a major crisis in the American financial system. Firms in the financial industry were seemingly unaware of the riskiness of the transactions they were engaging in. When things went well, the firms made enormous profits and the CEO’s benefited greatly.

Peter Wilson rhetorically asked (“Perspective, Jan. 1), “What is social justice?” He ponders a legitimate pedagogical question — Why teach social justice in our public schools? Wilson argues, “Social justice is a left-wing political goal, not a universal goal.”

Cambridge resident Nancy Murray of the ACLU says if you were around last summer, you may know that plans are afoot to install eight new surveillance cameras in Cambridge so police can monitor public areas. "This raises a host of questions," Murray says.

The Rector and Wardens of St. James’s Episcopal Church appreciate your keeping the community in touch with upcoming development plans. We would like to correct a few impressions left by your headline and description of the proposed partnership between Oaktree Design Development and St. James’s.

I appreciated the op-ed piece on social justice. My concern about such training is that kids will be taught that Cambridge is a good example of social justice.

Much as we may deplore Hamas’ rockets into Israel, Israel’s response has been totally out of proportion. Its air strikes, unavoidable killing of hundreds of Palestinians, is morally indefensible and its ground offensive is strategically self-defeating.

Around Christmastime, unbeknownst to me, a wrestling match took place one evening on Bay Street—just around the corner from my house. Two men evidently had a difference of opinion regarding a parking matter and ended up in the middle of the street, going at it in full, World Wrestling Federation-style.

Alexandria Real Estate Equities, Inc. has purchased 17 acres in East Cambridge. They are petitioning the City Council for zoning relief. They are asking for an increase in allowable floor area for their parcels. Current zoning allows 767,700 square feet. Their petition, would allow 1,585,000, an increase of 817,300 square feet.

The voters of Massachusetts spoke clearly Nov. 4 on the topic of marijuana: They want simple possession treated as a civil infraction, more like a parking ticket than a serious crime, with a maximum fine of $100.

On Dec. 4, 2002, the Cambridge Democratic City Committee passed a unanimous resolution to free Leonard Peltier. The presentation, regarding his innocence, made by Amnesty International, will be broadcast, beginning on Friday, Jan. 2 at 10 p.m. on CCTV/Channel 10.

Because this is the season of giving, my thoughts turn to the art of giving of oneself — anonymously or directly. Ralph Waldo Emerson, the founder of Transcendentalism, was known as a tightwad, yet he frequently slipped money into the hands of Bronson Alcott, Henry David Thoreau and others in his immediate circle. He advocated personal giving as part of this “religion.”

As the Salvation Army bell-ringing season ends this year, I want to share my view as I stood, ringing, beside the red kettle in the December cold.

With all the attention lately focused on the legitimate economy, Congress is forgetting about the importance of the underground economy. The sex trade industry is a $7-billion-a-year industry. The illegal drug trade industry is estimated by Economist magazine to exceed $60 billion a year.

J. F. White Contracting has spent more than two years and consumed more than $5 million working on the very small Walden Street Bridge project in North Cambridge.

While national elections gave us hope for great change, with a public revolt against wrong decisions and bloodletting, corruption remains on many local levels as we see in Illinois. And last Monday in Cambridge, the Cambridge Conservation Commission dealt a real blow to local conservation.

I was absolutely thrilled to read in today’s Cambridge Chronicle that Mr. Arthur Karuletwa hopes to open Bourbon Rwanda on the premises of the former Marino’s in North Cambridge.

Can being selfish really be a gift to others? Absolutely. But only if like myself, you’ve begun to come to the conclusion that there must be more to holiday giving than the fleeting joy of buying and receiving more bars of scented soap (it’s OK, you can admit it, we’ve all been there).

The Cambridge Prevention Coalition has been implementing programs that address the issues of alcohol and substance use in the community for many years.

I agree with Leslie Brunetta’s letter in the Dec. 11 edition of the Chronicle. (Leslie responded to my op-ed about gifted children in the Dec. 4 edition of the Chronicle by noting that King Open does provide opportunities for gifted children.)