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?

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