Two Wrongs
I understand the conservative case against the Wall St. bailout. I understand that government interfering in the Free Market will just do more damage to the Market. But isn’t the ugly truth of this bailout that the government is meddling to fix what the government broke? The mortgage business didn’t go down a rat hole on it’s own; the government pushed it down that rat hole. As Thomas Sowell http://townhall.com/columnists/ThomasSowell/2008/09/23/a_political_solution?page=1 and many others have plainly demonstrated we wouldn’t be in this mess if the government hadn’t meddled in the mortgage industry in the first place. The government not only allowed the mortgage business to give loans to those who couldn’t repay them, the government MADE the mortgage industry give loans to people who couldn’t repay them. Isn’t it therefore necessary for the government to step in and fix what the government themselves broke? That isn’t a rhetorical question. I really don’t know the answer.
