Thursday, October 2, 2008

Why I want small government

I really don't want this to become a political blog. So I will do my darndest to keep to economics which is the topic that makes me interested in the current financial hullabaloo. Here is a great article from 10 years ago that describes exactly how we got into this subprime fiasco. In short, when you lower the requirements to get a mortgage, you get more bad loans. I think it is atrocious that the government forced this situation through well-intended legislation. Lenders have every right to discriminate against people with poor credit scores.


Anonymous said...

I couldn't have said it better myself! I love how this latest bailout proposal passed by the Senate has hundreds of millions of dollars of tax breaks for movie studios:

Why should my money help them make liberal propaganda that no one wants to pay to see anyway?


JimmyV said...

Thanks. I'm feeling a bit out of sorts after coming off of the Palin High.

If only there was a candidate who ruthlessly cut out pork...