SubPrime Bailout – No, No, No…
In the United States, we advocate a limited role for our government in order to ensure as much liberty and freedom for each and every American. Of course, with individual liberty comes individual responsibility. So we have to be very cautious about those times when the government, at any level, assumes responsibility in place of the individual person or business. When we apply this very basic principle to the current situation with the sub prime mortgage industry, where a seemingly vast number of people took out loans that, in hind sight, they may not have been able to afford. In many cases, these folks stretched too much, and bear an unfortunate responsibility for making a poor decision. In some cases, those who took out these loans were victimized by predatory lendors who "crossed the line" in their methods of getting people to take out these loans when they should not have done so. No matter whether the blame lies with the consumer who bought the loan, or a predatory lending company, you can be sure that who is not to blame is "the American people" as a whole — or their government, which is financed by their tax dollars.
I am… Read More