The details of the financial crisis are still hard for most people to follow — what with talk of exotic 'derivatives' known as 'credit-default swaps' and so on — but the central fact of the matter hasn't been lost on anyone in this Northern Virginia community: The taxpayers are on the hook for the bad judgment of others. And they say they don't like it. They didn't break it, but now they've bought it. (Washington Post, Monday)
Wouldn't a little taxpayer revolt be refreshing?
FEE Timely Classic
Economics and Property Rights by Walter E. Williams
Categories: 
