So once again, several parties in a particular sector of the economy made some dumb decisions. And once again, instead of letting the people who made those bad decisions be punished by market forces, the federal government is figuring out how to bail them out, thus conditioning the public to the idea that risky ventures in America’s mixed economy really aren’t that risky at all. The government will always be along to pick you up, dust you off, pat your butt, and send you on your way.
Instead, the government’s proposed “solution” is–surprise!–more government, more power, and more regulation. Hey, maybe the mortgage meltdown will give us another legislative gem like Sarbanes-Oxley!
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