Private property über alles

Posted: 27 October 2010 in Uncategorized
Tags: , , ,

Richard K. Green has finally figured out why he’s so adamantly opposed to a home foreclosure moratorium: private property must be defended!

last night it occurred to me why I have such a visceral reaction to such things as moratoriums: they strip property rights without due process. If a borrower agrees to repay a mortgage, and everything about the mortgage is legitimate, and the borrower ceases to make payments, the lender has a property right to take the house.

Apparently, in Green’s world, the banks’ right to private property trumps all other rights, such as a decent job or a house over one’s head.

Sure, borrowers agreed to repay their mortgages. And the banks agreed not to make decisions that would drive the world economy to the brink of disaster. I guess that means, according to Green’s logic, we now have the right to take over the banks.

Comments
  1. […] latest news is sure to drive the “private property über alles” nuts […]

  2. […] wonder what the bottoms-up, free-market types think of this solution to the current housing crisis. . […]

  3. […] wonder what the bottoms-up, free-market types think of this solution to the current housing crisis. . […]

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