Seattle Bubble

I thought we could use a thread to discuss the insanity that reigns in the financial world today. You all already know the news. IndyMac taken over by the FDIC in the third-largest bank failure in US history. The bailouts of Fannie & Freddie have begun.
Here’s another take on the weekend news:
Now [...]

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Stop the Mortgage Bailout, Patrick.net, and Seattle Bubble were featured this morning in a segment called Opposition to Proposed Homeowner Bailout Growing on NPR about the various government bailout plans.
You can listen to the full three-minute segment on NPR’s website. Here’s a little clip of my appearance:

The house Mr. Kaste and I were standing [...]

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There’s a new site called Stop the Mortgage Bailout that aims to draw attention to the anti-bailout cause and educate people about what a bailout would really mean.
From the site:
A bailout is morally irresponsible because it encourages irresponsible and irrational behavior. Here is a short list of the many “moral hazards” that a bailout enables:

A [...]

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A friend pointed me toward an interesting radio segment that aired on local public radio KUOW today: Should the Federal Government Bailout Banks and Homeowners?
You can listen to the full segment at the link above. Here’s a short excerpt from the beginning:

It seems that most of the people that called in were against a [...]

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