Libertarians for Ron Paul

McCain’s Bailout: Moral Hazard or Economic Salvation?

“During the Oct. 7 presidential debate, John McCain proposed to spend $300 billion of other people’s money to buy “bad” mortgages. This is a very misguided proposal. Even if the myriad details were handled correctly, McCain’s “American Homeownership Resurgence Plan” would be a very costly and risky form of intervention.”

Daniel Mitchell of The Cato Institute examines McCain’s compassionate conservate approach http://www.cato.org/pub_display.php?pub_id=9721: