Our House

Last week, Peter Schiff went back to Washington to once again testify in front of a Congressional subcommittee on government run housing. It’s frightening to see our leaders in action, completely incapable of following the simple logic of cause and effect or understanding the definition of a moral hazard.

The best part is near the end, where confronted with the simple idea that subsidizing flood insurance encourages reckless building which hurts those now able to buy homes that should never have been built in flood plains, the committee members resort to reminding Peter that government is the good guy. How could Peter have forgotten that?

Your comments welcome here:

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.