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.