I find it ironic that the government is blaming mortgage companies for the subprime loan fiasco, when in reality, the government was what started the whole mess.
So, for those of you who are still trying to catch up, this is how things work in America. The government decides something in the economy isn’t “fair”. The government then enacts some sort of legislation to fix the problem. This legislation causes a new, much worse problem. The government blames capitalism and calls for more of the same bad legislation to fix things.
This is why government intervention in the market is bad. There are always unintended consequences to their decisions. And it always ends up being worse for those the government claims to be helping, more often than not because the “rich” that everyone tries to screw over are one of the main catalysts for the growth of the economy, which offers more opportunities for the poor.
I am so frustrated. But at least I can read this blog every day to know just how bad it is.
Questions? Comments? Rude remarks?