I would like to see these.

Apparently, some Republicans have given letters from 122 Economics Professors from major universities all over the country urging the Congress not to do this. I would like to see what those guys are saying about this. I think they believe that the free market ought to be allowed to run its course.
On the other hand, I heard some clips on the radio where Clinton admitted to leaning on Fannie Mae and Freddie Mac during his administration to have at least 50% of their loans to low income borrowers. He said that he felt that they needed to do this because at the time, the shareholders and board members were making too much money from making solid, sensible loans to people who could actually pay them back…hmmm.
It doesn’t solve the problem, but at least we know the source of it. Once again it illustrates how the government makes a mess of things when they involve themselves in private business matters. Why do they have to force the mortgage lenders to make loans to people who will not be able to pay them back? Those people should rent like the rest of us had to do before we could afford to buy a house. One thing I haven’t done is checked Walter Williams site to see what he thinks about all of this. Understanding his position on the government meddling in the free market economy, I imagine he is against the bail out plan. Part of me has a real bad feeling about this. Do we not believe that other more sensible entities will fill in that vacuum left by the failed institutions? On the other hand, the government caused these problems; therefore, shouldn’t they be responsible for fixing them? Going back to the other point about the propensity of the government to turn a pile of crap into an even bigger pile of crap.