Published Wednesday, May 30, 2007 by Steve Berger
Hardly a day goes by without someone's proposing how to make the bad situation in subprime mortgage lending even worse, writes Steve Berger. Legislators at all levels of government are contending for ownership of the most destructive idea. Finalists in this legislative race to the bottom include punitively stiff lending standards, foreclosure holidays and taxpayer-financed bailouts. He proposes a far simpler, fairer and effective course of action: let free people sort it out for themselves.
(Original Text)
The Subprime Mortgage "Crisis" Will Fix Itself (1.18 MB)