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.
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2 comments:
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:
http://latimesblogs.latimes.com/entertainmentnewsbuzz/2008/10/hollywood-gets.html
Why should my money help them make liberal propaganda that no one wants to pay to see anyway?
Joyce
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...
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