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Bad policies inflating new bubble?

Book Review: 'Financial Fiasco'

Book Review Title: "Financial Fiasco: How America's Infatuation with Homeownership and Easy Money Created the Economic Crisis" Author: Johan Norberg Publisher: Cato Institute, 2009; 208 pages; $21.95 list ($14.93 on amazon.com) Somewhere I once read a description of homeowners' habitual equity-tapping before the bubble burst so vivid it embossed an image permanently on my brain.The exact words I don't remember, but my mental image is of a scientific laboratory full of cages containing miniaturized homeowners, each pressing away at a lever on their mini homes to get their addictive fix of cash from their homes. Some of them go so far as to resemble Homer Simpson after scoring a doughnut, tongues lolling out as they drool, "Moneeeeeey. Goooooood." That image came back to me afresh when I first read the title of Johan Norberg's new book, "Financial Fiasco: How America's Infatuation with Homeownership and Easy Money Created the Economic Crisis.&q...