| When the government gets involved in a particular | | | | The government's programs over the past few years |
| segment of the market, it often creates distortion and | | | | to stop the foreclosure crisis have all been excellent |
| waste, as well as providing services that may not be | | | | examples of bad ideas with overly optimistic promises |
| needed or desired by the target markets. Also, since | | | | that soon failed. Many of these programs were |
| there is no incentive to maximize returns or keep | | | | designed to assist borrowers in negotiating with their |
| costs down, the programs can cost far more than the | | | | lenders for loan modification plans or other solutions. |
| benefits they bring to one group or another. And worst | | | | While no homeowner was given the choice to fund |
| of all, funding such central planning schemes is always | | | | the plans or not, the programs encouraged only |
| involuntary. | | | | voluntary participation by lenders. |