Posted by
The Hermit Crab on Thursday, September 25, 2008 10:28:19 AM
Dear Laura,
As a believer in Ronald Reagan's statement that the most frightening words in the English language are "I'm from the government, and I'm here to help you", I hate to hear any Senator say they're going to deal with any problem. I haven't heard any of your callers say what I'm thinking, which is that Sen. McCain should be using this opportunity to denounce the excessive government meddling and regulation that caused this mess. The only legislation he should be calling for is the repeal of the old legislation which forced financial institutions to make unsound loans. Warren G. Harding had the right idea in 1921. He dealt with the post-World War I recession by cutting federal spending ... and waiting. The economy righted itself ON ITS OWN!
Get the government out of the mortgage business altogether!
(As an aside, if you haven't read Modern Times, by the renowned British historian Paul Johnson, I urge you to do so. He offers needed correctives to the American history we all learned, at least the part of "all" who went to public schools. His re-evaluations of Warren G. Harding, Calvin Coolidge, and Herbert Hoover should be more widely known.)