Thursday, March 06, 2008

Government Regulation Gone Amuck No. 11: Mortgage Blaming Games and Bail-Outs

Alan Reynolds at Cato has a nice way with words.

This time, he points out how exquisitely ridiculous politicians can be.

[Thanks to for the Tenniel illustration of Alice in Wonderland.]

On the one hand, government has pursued and fined mortgage brokers for not lending to people with bad credit and for using a process called "red-lining."

On the other hand, and now that it has become expedient, the same politicians want to punish the mortgage brokers for lending to people with bad credit.

Go figure.

Read his piece. It's an eye-opener on how governments always get it wrong. This time, it's both Hillary and Obama who have come up with hair-brained solutions to our mortgage crisis that are so off-base and self-contradictory as to be almost funny.


And unfortunately, the Republicans are quite as guilty.

Off with their heads.

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Blogger Katy said...

Sorry, Danny, but I delete anything that walks like an ad and talks like an ad.

10:37 AM  

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