I can't believe I agree with Bush on the Housing Bill [View All]

[edhopper]

He says he will veto the Frank/Dodd Housing Bill. He should. It rewards lenders who made bade loans, it rewards people who bought overpriced houses that they could not afford, in the midst of the biggest housing bubble in U.S. history. It puts taxpayers on the hook for 100s of billions of dollars in bad loans and helps out all the big banks who profited by the sub-prime shenanigans and now that it's falling apart are getting a big government rescue. This is a bad bill and not what we should be doing in this mess. What's next? Bailing out people who took on too much credit card debt? In Economics violating the Moral Hazard has dire consequences.
It's is rare that Bush does anything I don't find revolting, but he is right this time.