Amawalk John
12-06-2007, 09:14 AM
The 2 million borrowers with low credit ratings got into this mess because demagogues in and out of government bullied reluctant lenders into issuing mortgages to high-risk borrowers. But both sides entered into these mortgages of their own free will, so the best solution would be for them to work things out on their own, without government interference or largess.
RTWT (http://www.rep-am.com/articles/2007/12/06/opinion/302598.txt)
Too bad this is only the Waterbury CT Republican-American and not a paper that will be read much in Washington where our government seems to think central planning by comissars will provide better results that the invisible hand of market supply and demand.
The best thing the government could do at this time is to admit they were wrong to bully banks into making bad loans and issue a contrite apology and pledge never, ever to interfere in free markets or valid contracts again.
RTWT (http://www.rep-am.com/articles/2007/12/06/opinion/302598.txt)
Too bad this is only the Waterbury CT Republican-American and not a paper that will be read much in Washington where our government seems to think central planning by comissars will provide better results that the invisible hand of market supply and demand.
The best thing the government could do at this time is to admit they were wrong to bully banks into making bad loans and issue a contrite apology and pledge never, ever to interfere in free markets or valid contracts again.