3.25.2008

UNINTENDED CONSEQUENCES

I'm late to the part on this, but I'm still filing this in my "sometimes when the government tries to help the poor, it ends up hurting them" file: "Hillary's Disastrous Proposal to Solve the Mortgage Crisis." Almost lost in the whole subprime meltdown and ensuing hysteria (and shame on liberals for forgetting this) is that increased liquidity is a good thing in terms of a broader swath of America getting a chance to own a home. Heavy-handed government intervention, however politically heroic, will simply dry up the availability of funds for the universe of borrowers that need the most help. Think about this when you go to the polls in November.
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