Tuesday, November 27, 2007

Why is the answer to failed government agencies

more of the same:

Another way to look at it is as follows: all of the institutions from the 1930's, plus some created since then, have not solved today's problems. In fact, most of them contributed to the sub-prime frenzy.

The really bold thinking, in my view, would be to ask why we need to subsidize the heck out of home ownership. Saying we need to pour more government support onto the housing market is like saying we need to deal with obesity by increasing the allotment of food stamps.

Let the markets clear. Please.

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