It's been the ruin of many a poor boy...

Why do people think that politicians can solve their problems? An article in the Baltimore Sun had a nice picture of concerned looking Jesse Jackson and a Baltimore City Council member holding a public meeting to call attention to the sub prime mortgage “crisis”. No harm there, in fact I applaud the reverend’s efforts. It puts additional pressure on private lenders to be charitable, honest, ethical, etc. However, I get concerned about statements like this one:

Jackson asked about 40 assembled clergy to call on their city council, state legislature and attorneys general to take action regarding the subprime mortgage crisis. He said the loss in tax revenue could affect public education, transportation and health services.

What, specifically, does Jackson want the government to do? Does he have a specific plan? Does he want the government to put a freeze on foreclosures? Raise taxes? Or does he just want to run his mouth in front of a camera?

I sympathize with those who are in over their heads with their mortgage. Corrections cause real pain while people pay for their imprudent decisions. Government intervention will only draw out the length of the correction and prevent people from learning from their mistakes. By the way, whatever became of Ken Ulman’s efforts to involve himself in the mortgage correction?