Erik Ackerman

Bailout Part 1

Feb 10, 2009

Miscellaneous thoughts about the economic 'crisis.'

Don't bail out homeowners being foreclosed. Instead shore up Section 8 housing. Let the banks foreclose and try to do something with the properties. In many cases, I expect the local housing markets to drop enough that many of the foreclosed could re-enter the market, albeit at a lower level. Let the market do its thing, and let people fail. Otherwise, they will never learn.