I was going to post a comment on the article but the registration and formalities were too cumbersome. I was going to submit a letter that I have written to my local newspaper:
It is evident that the capitalism bashers on these pages don't have any idea as to what laissez-faire capitalism actually is. It means, "hands-off government involvement in the economy." It means competing alternative currencies, no Federal Reserve Board, no social engineering, no bail outs. Fanny Mae and Freddie Mac were created in the late '60s for the express purpose of providing mortgages to low income people whom the greedy, bottom line capitalists recognized as poor risks. It was social engineering in full flower. This legacy is with us yet and has percolated up through all the administrations since then, saddling us with the crisis that is now upon us. The smartest socialist bureaucrats on the planet couldn't see this coming but it was irrevocably cast by the do-gooders who thought they should intervene, motivated by the lofty premise that more home ownership stabilizes families and is good for the economy. That sentiment may be valid but look what that government intervention has wrought. Capitalism has all the mechanisms within itself to identify such needs and satisfy them. Sam
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