Putting Ideology To The Test

There's an old saying (paraphrasing)

"When a borrower can't pay back a million dollar loan, it's the borrower's problem. When a borrower can't pay back a hundred million dollar loan, it's the bank's problem".

The current administration is chalk full of free marketers believing that the market is right and should be left alone.

Until the big money boys get in trouble.

Treasury Sec. Paulson is working fast a furious on a bailout plan for homeowners who are defaulting. Do you think he's doing it because of the pain of the average borrower? Look for a plan to come out soon that will be sold as helping average people keep their homes. Of course, we all know better.