Goal of Bailout Plans is Unjust, Not Admirable
By Alex Epstein (sent to the New York Times on September 23, 2007)
"Uncle Sam: Subprime Lender" (September 22, 2007) accurately documents the irrationality of the latest subprime bailout scheme--but completely undercuts its case by conceding that the "goal of these bailout plans is at least admirable--to ensure that subprime borrowers don't lose their homes to foreclosure."
How can it be at all admirable to sacrifice those who did not take out unmanageable loans for the sake of those who did? That is not admirable; it is unjust.