Secretary of Treasury is back to defend foreclosures

Washington Post,Dec.18, 2007 page D1,D3: Liberals say that the Paulson plan is too timid given the millions of households at risk of default. Conservatives say the government is bailing out folks who made bad financial decisions and is improperly undermining contracts, which could discourage investors from making money available for home mortgages. My comment: There is no clear-cut pat answers to applied economics. It is a matter of perception and reception at best. Economics is an inexact science,similar to medical science. The second opinion is always good. Perhaps the third opinion would be better and the 4th might be the best?! Who knows the definite answers? There are those who don't know and those who don't know they don't know! This sounds icky or cocky but it is not untrue with humor plus humility. Hehehahahoho all the way to learn Economics without bounds or boundless to the utmost. That is the reason that I am always a student even though I started studying Economics in 1943. Francis Shieh a.k.a. Xie Shihao. December 18, 2007