Thursday, May 27, 2010

Congress Blowing Money Again

They never learn!

H.R. 5409, the Residential Construction Lending Act, would create a new residential construction loan guarantee program within the Department of Treasury to provide loans to builders with viable construction projects. Designed to unfreeze credit for small home building firms, the measure would expand the flow of credit to residential builders on competitive terms.
Really? The problem in the housing market is not enough homes being built? I thought it was the massive overhang of excess housing.


Taylor Conant said...


Of course, but that's no fault of the "viable businesses" who are otherwise suffering the consequences!

The government should stand ready to make investments when the private sector is too dull or too scared or too broke or too impatient (re: your other video and energy R&D subsidies argument) to do so!


CP said...

Part of the problem with this country is that so much of the population is hopelessly stupid and sees no problem with this legislation or their legislators.

Taylor Conant said...

I keep fielding "but without government we'd have chaos" complaints from the hopelessly stupid, who have apparently chosen not to witness the mass economic chaos we're currently experiencing, all thanks to government (in their minds, though, I'm sure it's all because of practical anarchy following "deregulation"...)

PD said...

people are stupid, individuals are smart.

politicians should aim to create societal wealth, not make people who bug them rich.

CP said...

I think the biggest problem is the federal government.

Hopefully when they are broke they will go away!