Mortgage Bailouts Rob Thrifty Ants to Appease Irresponsible Grasshoppers

Posted by Hans Bader

Yahoo Finance discusses how mortgage bailout measures turn Aesop’s fable about the ant and the grasshopper on its head, rewarding irresponsibility and punishing thrift and prudence.   Mortgage bailout proposals are proliferating, even though bailing out irresponsible borrowers and banks is a stupid idea, and is unpopular with the silent majority of Americans, as public opinion polls make clear.   A revised, politically-correct version of Aesop’s fable is available here.

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03/31/2008 @ 10:22 am | Constitutional & Legal, Economic Liberty, Precaution & Risk | Comments

One Response to “Mortgage Bailouts Rob Thrifty Ants to Appease Irresponsible Grasshoppers”

  1. Posted by: Senate Poised to Pass Mortgage Bailout and Counseling Boondoggle | OpenMarket.org - 04/01/2008

    [...] the value of their homes.   The public opposes mortgage bailouts, and they are a bad idea that turns Aesop’s fable on its head and discourages investment.  But Senators want to be “bipartisan,” a desire based [...]

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