Iowahawk shares his own sad tail. With pictures.
But it’s not too late to make amends: contact your local elected officials and demand that they do something to alleviate our suffering. Demand an end to ARMs, and demand subprime do-overs. If we don’t act now, the entire economy will collapse, and people like me — and my children, and my dirtbikes — will be out on the streets looking for a new place to live. Maybe in your neighborhood.
Based on that story, I’ll be demanding the crisis get fixed. I don’t want him here!!
George Will wouldn’t have a problem though. He’d rather not see the govt involved in private contract. Mr. Will is just not being practical.
Perhaps Washington’s intervention in the subprime problem reveals the tiny tip of an enormous new entitlement: People who voluntarily run a risk, betting that they will escape unscathed, are entitled to government-organized amelioration when they lose their bets. The costs of this entitlement will include new ambiguities in the concepts of contracts and private property.