Conservative Liberal

FDR would have been a Republican today.

Honest leftist

Here is an article by Senator McGovern:

Nearly 16 years ago in these very pages, I wrote that "’one-size-fits all’ rules for business ignore the reality of the market place." Today I’m watching some broad rules evolve on individual decisions that are even worse.

Under the guise of protecting us from ourselves, the right and the left are becoming ever more aggressive in regulating behavior. Much paternalist scrutiny has recently centered on personal economics, including calls to regulate subprime mortgages.

With liberalized credit rules, many people with limited income could access a mortgage and choose, for the first time, if they wanted to own a home. And most of those who chose to do so are hanging on to their mortgages. According to the national delinquency survey released yesterday, the vast majority of subprime, adjustable-rate mortgages are in good condition,their holders neither delinquent nor in default.

There’s no question, however, that delinquency and default rates are far too high. But some of this is due to bad investment decisions by real-estate speculators. These losses are not unlike the risks taken every day in the stock market.

The real question for policy makers is how to protect those worthy borrowers who are struggling, without throwing out a system that works fine for the majority of its users (all of whom have freely chosen to use it). If the tub is more baby than bathwater, we should think twice about dumping everything out.

Health-care paternalism creates another problem that’s rarely mentioned: Many people can’t afford the gold-plated health plans that are the only options available in their states.

Read the whole thing.  And remember that Senator George McGovern is a member of the Greatest Generation.  All the political disagreements aside, he most definitely deserves our thanks, respect and admiration.

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April 6, 2008 - Posted by | Uncategorized

5 Comments »

  1. […] Original post here […]

    Pingback by Mortgage News Aggregator » Honest leftist | April 6, 2008 | Reply

  2. Americans need health care, and that’s my final answer. Canada has national health care. Here, we have all these young workers with no health care, and all these oldsters getting exorbitant health care through Medicare, which is suppported by the young workers. It’s really quite ridiculous. If we don’t take care of the young workers, there will be no more medicare. The oldsters getting all kinds of needless surgeries will just have to make do, like the youngsters presently do.

    Comment by Patti Morey | March 11, 2010 | Reply

    • You say “The oldsters getting all kinds of needless surgeries”. Who decides which surgeries are needed? My grandpa had a heart bypass at the age of 85, after which he lived 6 more years. Would you say that at 85 he didn’t really need that bypass: he lived long enough?
      Who does not have health care? Do you even know what you are talking about? Some people don’t have health insurance, but they still get health care, especially if they are poor.
      Eric.

      Comment by eric-odessit | March 11, 2010 | Reply

  3. well, I don’t have healthcare. When I go to the doctor, which is on average about once every 5 years or so, they say the same thing, because I can’t afford a doctor who actually knows something, I get these dipshits who inevitably say, through fugitive acromegaly, ectopic pregnancy that nearly took my life, and even for goodness sake – Giardia – this is what they say: “You look fine, there’s nothing wrong with you, it’s just you’re imagination,” and, ‘Thanks for the hundred dollar exam fee.”

    You see, poor people just don’t get sick. They’re not allowed to get sick. They have to keep working. Illness is a privelege of the affluent.

    The one exception, apparently, is poor aged people: they can get sick, because it pays the doctor guaranteed money through Medicare.

    Comment by patti morey | July 20, 2010 | Reply

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    Comment by viagra fuer die frau | November 3, 2010 | Reply


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