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.”