Here she is again, daring to offend the rest of the media nitwits with her truth-seeking journalism. She writes about the expansion of the FHA homeowner welfare program that will enable more people to qualify for FHA-insured mortgages. Government interventionist policies are only concerned with short-term remedies, especially in an election year where politicians are looking to make quick impressions by pandering to the "poor me/victim" class.

Why should responsible homeowners have to foot the bill for the irresponsible behavior of others in a capitalist system? (No, the folks buying homes they couldn't afford weren't all hoodwinked by mortgage lenders.)

The answer: A higher power has decided that the anticipated future cost -- the risky behavior it encourages tomorrow by rewarding it today -- is less than the more easily measured current cost.

The housing market is a mess. Sales and prices are still falling, competition from distressed sales (of foreclosed properties or short sales by the bank) is mounting, lenders are tightening credit standards and employment is falling. Policy makers have decided that short-term pain is intolerable, especially in an election year, with constituents badgering their representatives to ``do something'' about high gas prices and a lousy economy.

She also quotes Brian Montgomery, U.S. Housing and Urban Development assistant secretary, when he says that "no insurance company can sustain that amount of additional costs year after year and still survive. Unless we take action to mitigate these losses, FHA will soon either have to shut down or rely on appropriations to operate." (Bold emphasis mine.)