GO
Loading...

Enter multiple symbols separated by commas

Commentary: Taking Issue with Bernanke's 'Fire'

Fed Chief Ben Bernanke used an analogy to justify President Obama’s housing plan even if it does promote “moral hazard” and reward people for poor behavior. He compared it with a neighbor whose house is on fire because he was smoking in bed.

Yes, smoking in bed is wrong, but you need to put out the fire, because if you don’t the whole neighborhood may go because the fire will spread.

I take issue with that analogy and so does a viewer, Kevin in Wilmington, Mass., who sent us this e-mail:

Problem: My neighbor was smoking in bed, his house did burn down, and half of my house was destroyed with it. The Fire Department hit the snooze button on the fire alarm several times, showed up late (house was fully engulfed and ready to collapse) and, had a squirt gun to fight the fire.

Thanks, Kevin. I am in total agreement, and would go even further: Now they are going to waste precious and expensive water (taxpayer money) by pouring it all over the embers.

I fully understand the sentiment that a lot of this goes against American values of self reliance and responsibility, and I'm aware of that.

I would give the following example: If your neighbor smokes in bed and sets his house on fire and you live in a neighborhood of closely packed wooden houses, you could punish him by refusing to send the fire dept and then he would learn his lesson, but unfortunately in the process you'd have the neighborhood burning down.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

  • Hillary Clinton

    A CNBC survey reveals that in a head-to-head runoff, Hillary Clinton will win the 2016 presidential election over Jeb Bush.

  • Pornography may be illegal in China, but Playboy Enterprises - the pioneer of print adult entertainment - sees it as one of its most promising markets.

  • Manny Pacquiao trains during a workout session at The Venetian Macao, Nov. 20, 2014.

    A pair of fight watchers filed a class-action suit against Manny Pacquiao and Top Rank, alleging failure to disclose the fighter's shoulder injury.

U.S. Video