Friday, July 25, 2008

None of the above

Which candidate opposes the housing bailout?
A. Republican Sen. John McCain
B. Democratic Sen. Barack Obama
C. None of the above:
"Both the House and President George W. Bush have surrendered in the battle to protect America’s taxpayers from yet another expensive and unnecessary bailout. The $300 billion measure yesterday approved by the House and endorsed by the White House won't just pay off improvident borrowers and lenders. It will create yet another piggy-bank for activist groups at public expense. . . .
"The sub-prime lending crisis is largely a crisis of government. Congress and both Presidents Bill Clinton and George W. Bush pressed banks to lend more money in poor neighborhoods to less credit-worthy borrowers. The Federal Reserve pushed down interest rates to encourage more lending. Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development subsidized home ownership. Now we are all paying the price for a boom gone bust."
So says Libertarian presidential candidate Bob Barr, who just released a video about The Time for Liberty, an idea endorsed by Ron Paul -- and Ayn Rand, John F. Kennedy, Martin Luther King, Ronald Reagan . . .

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