Free Republic

The moment I read the front page of the Washington Post on Wednesday I knew that the folks who enjoy spending other people’s money (OPM), while calling it corporate social responsibility, were prepared to use every available weapon to convince the rest of us that it would be socially irresponsible if we fussed about the government taking our money to bail out those who bet on the wrong numbers in the housing market. Below the fold in the lower corner of the front page was an article by Washington Post staff writer Steve Hendrix headlined: “Losing a Best Friend Along...

When Casey Johnson and his wife moved to San Diego County three years ago, they couldn't find a home in their price range. So they did what they thought was the sensible thing. Rather than over-leverage themselves with a risky mortgage, the couple rented an apartment in La Jolla and waited patiently for the housing market to drift back to earth, hoping they hadn't missed their chance to become homeowners. The value of a rate freeze Graphic The value of a rate freeze click to enlarge But now the government-brokered plan unveiled Thursday by President Bush to ease terms on...