Tuesday, March 24, 2009

"Lend like crazy"

Christina Romer, appointed by President Obama as chair of the Council of Economic Advisers, says that we need Freddie Mac and Fannie Mae -- whose irresponsible lending helped get us into the current mess -- to "lend like crazy."

Do these people never learn? It's also instructive that the perceived solution to the current economic environment is to reflate the housing bubble. Plainly there is no interest in making hard choices, just anything to dull the pain.

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