Mises Wire

Peter Schiff on Mortgage Bailout

Peter Schiff on Mortgage Bailout

In the comments of my post on the mortgage mess, "Jake" linked to this fantastic piece by Peter Schiff. He makes the obvious point—that I somehow missed!—that the bailout will only further depress home prices in the medium to long term, since fewer people will qualify for loans. It's really amazing how politicians screw up a part of the market and then kick it while it's down.

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