Opportunity Costs - Politician Style

I'm still laughing hysterically at our government “reformers'” attempts to save us from ourselves. I'm now more convinced than ever that their “reforms” and “rescues” will ultimately cost us more than had they just left everything alone.

In “Anatomy of a Breakdown,” writer Michael Flynn explains that the cause of the crisis came not from deregulation, but rather from government meddling on behalf of the poor, whom they determined needed “affordable housing.” In the 1970's, we called it “The Community Reinvestment Act.” Today, we simply call it Freddie and Fannie.

Here are a few more headlines from this past week. We can expect to see a lot more of these in the coming years.

"Obama wants auto industry reformer"

"The Big Three Have a Plan: Ask for Even More Bailout Money"

"TARP Trouble: GAO Report Rips Internal Controls, Bank Monitoring"