The panelists quickly dismissed this as case of supposed government irresponsibility and placed the responsibility on the homeowner for failing to pay. In fact the panelists even went further equating this with the breaking news that banks can't even prove that the mortgagees in foreclosure owe them money. So what was the connection of the foreclosure crises to the burning house? Why should anyone act responsibly by paying their bills/taxes when society bails them out for being irresponsible. Congratulations to Fox News for getting the implications of this story correct.
The cartoon below came from Against Monopoly, and seems quite appropriate. If you don't want to pay your obligations for services provided by the government. Be prepared to do it yourself. (Click on the image to see it better.)
1 comment:
This cartoon and article are very wrong. It promotes the socicalist dream of subsidy for Insurance Companies.
The CATO Institute shows that your Insurance actually pays for a private fire department. That is right, if you as a private citizen, or private fire company see a burning house, and go put it out - you can bill the insurance company.
The tax subsidy for the government owned fire department was allowed if they did not charge the insurance company. So, it was the greed of the regulated insurance monopoly to promote the government subsidy fire departments.
Libertarians who are responsible and pay for insurance don't like paying TWICE. Once for the insurance then once for the tax to support government monopoly fire departments.
Solution:
Make Fire Departments charge the insurance company for the service. After all, we paid for it. Then, allow competitive fire departments. In private developments, private fire departments operate at a fraction of government run fire departments.
The free market provides solutions and responsibility.
This article also fails to acknowledge that LIBOR was rigged as was the National Real Estate organizations that submitted false information on home sales and prices.
A home owner who paid "PAID" licensed professionals who lied and defrauder the home owner were never held accountable.
In fact, one of the worst offenders is being promoted to Sec of Treasure of the US in 2013.
None of the over 2,000 "too big to fail" bank managers has ever been held accountable. There is no law for a class of wealthy. While all fingers point to a home owner who was absolutely scammed.
Disclaimer: No Too Big To Fail Bankers that provided the majority of political funding for the candidates of the Demopublican Party in 2012 were bothered in the least by this post or by Fox's poor analysis.
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