http://www.smartmoney.com/tradecraft/index.cfm?story=20070813
Government Shouldn’t Bail Out Failing Homeowners
By Jonathan Hoenig
Published: August 13, 2007
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The more the government gets involved in mortgages and banking, the tighter credit will become. But beyond the impractical reality of collectivist economics, a bailout of homeowners facing foreclosure would be an immoral violation of the property rights of the millions of citizens who live within their means and pay their bills on time. The responsibility of paying back subprime mortgage rests with those who took them, not the publicity-seeking politician eager to sacrifice the individual for the “public good.”
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Here’s an interesting take on how the gooferment creates the problem and then rushes in to “save us”!
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Reinke Faces Life 