Friday, April 4, 2008

Bad Idea Bailout

Hans Bader of the Competitive Enterprise Institute has a nice round up of all the ways in which the proposed mortgage bailout is a bad idea.
The bailout proposal has “two glaring problems: one moral, the other economic.” And it reserves the “privilege” of a bailout “for an estimated 1 million to 2 million homeowners who are the weakest and most careless borrowers,” while excluding responsible “people who made larger downpayments.”

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