President Obama says “we can’t wait…” for more mortgage bailouts. But political intervention in the economy is what caused the mortgage crises and our continued economic troubles.
The Objective Standard published my latest article, “Yes, President Obama, We Can’t Wait.” I write:
… In addition to bailing out those who irresponsibly bought houses beyond their means, HARP also bails out irresponsible lenders — those who willingly lent funds to those with poor credit. The federal government thus showers the irresponsible with unearned benefits while harming taxpayers and artificially propping up the price of houses. …