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Fannie Mae and Freddy MacReally Bad Ideas™ that American
politicos are determined to make worse
A Federal bailout of Fannie Mae and Freddy Mac is
a Really REALLY Bad
Idea™ that keeps getting
worse.
It's not the free market. Both firms got goodies and privileges from Congress that aren't available to anyone else. Both helped devalue the American dollar. And both are central to the mortgage meltdown. Not to mention many other financial shenanigans over the past few decades. The Wall Street Journal has a pretty good roundup of articles going back to 2002. It didn't start there of course. It started when Congress granted the charters in the first place. One of my favorite lawyers, Becky C. at Just a Girl in Short Shorts lets loose with both barrels blazing in The Facist Bailout of Fannie Mae. Warning, her blog may not be safe for work. The point is, neither could exist without active government intervention to "protect" them from the rules that the politicos inflicted on everyone else. And it was those same exceptions that exploded. 
Posted: Mon - July 14, 2008 at 03:11 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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