Government makes huge amounts of cheap money available to lenders, then insists that poor people be given huge loans, and they’re blaming the public for the results.
Exactly. And they are doing it again with the bailout. Here’s some free money, go and issue more credit card and auto loans to people who may not have jobs next week. It’s nuts to releverage against the market. We’ve gone from tax and spend liberalism to borrow and spend liberalism.