Keep the housing market a free market

For Immediate Release Friday, May 9, 2008

Federal bailouts reward bad decisions at the taxpayers’ expense

Washington, D.C. – In a statement issued today by Libertarian Party National Media Coordinator Andrew Davis, the Libertarian Party is urging the President to veto any housing bill sent to his desk that creates bailouts for the housing industry at the taxpayers’ expense:

“Republicans and Democrats have come together to create a bipartisan measure that puts the American taxpayer on the line for risky loans and poor decisions. No person should be asked to pay for his neighbor’s foolish choice to take on a mortgage he couldn’t afford, or for a lender that makes a risky loan. What happened to individual responsibility? President Bush should veto any sort of legislation that seeks to manipulate the housing market with taxpayer-subsidized bailouts, or any sort of bill that prevents buyers and lenders from taking responsibility for their decisions. The housing market should be a free market, where everybody faces the responsibility for the decisions they make without hanging the taxpayer out to dry. A second mortgage should not mean helping to take on your neighbor’s.”

The Libertarian Party is America’s third largest political party, founded in 1971 as an alternative to the two main political parties. You can find more information on the Libertarian Party by visiting . The Libertarian Party proudly stands for smaller government, lower taxes and more freedom.

For more information on this issue, or to arrange a media interview, please call Andrew Davis at (202) 333-0008 during normal business hours, or at (202) 731-0002 during any other time.

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