Wednesday, February 18, 2009

Mortgage Meltdown

A break from the gloom-and-doom to point out something that we all know implicitly, but isn't usually said. Ask the next person who decries the lack of regulation that led to the loan crisis this simple question:

Why would a company that makes its money by lending money, then collecting it back with interest, deliberately make loans it knew it would never get back?

These companies wouldn't be making these "bad loans" unless they knew they'd be getting their money from somewhere. Period. Full stop. Find a better argument, socialists.

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