Monday, July 28, 2008

Is the Mortgage Bailout a sign of a nanny state?

With pending foreclosures, the government is passing a bill that many believe is rescuing hundreds of thousands of homeowners from the consequences of their own bad decisions. While this is true, the issue is a little more complex than that, because lenders have engaged in some pretty unethical practices. But guess what? We're bailing them out too! Some of the measures that Congress grinds out during an election year are abominable. The market should be correcting this problem. Not the rest of taxpaying Americans who didn't make the poor choice of risky borrowing and lending.

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