Mortgage Bailouts Rob Thrifty Ants to Appease Irresponsible Grasshoppers
Yahoo Finance discusses how mortgage bailout measures turn Aesop’s fable about the ant and the grasshopper on its head, rewarding irresponsibility and punishing thrift and prudence. Mortgage bailout proposals are proliferating, even though bailing out irresponsible borrowers and banks is a stupid idea, and is unpopular with the silent majority of Americans, as public opinion polls make clear. A revised, politically-correct version of Aesop’s fable is available here.