Also: What he said…
The abiding lesson here is what happens when you combine private profit with government power. You create political monsters that are protected both by journalists on the left and pseudo-capitalists on Wall Street, by liberal Democrats and country-club Republicans. Even now, after all of their dishonesty and failure, Fannie and Freddie could emerge from this taxpayer rescue more powerful than ever. Campaigning to spare taxpayers from that result would represent genuine “change,” not that either presidential candidate seems interested.
P.S. Blockquote is from Paul Gigot’s Wall Street Journal editorial.
Filed under: government | Tagged: affordable housing, fannie mae, freddie mac, malfeasance, money, politicians, ugly
Appreciate the link, but just to be clear on that second quote in your highlight, I was actually quoting Paul Gigot from his WSJ editorial from last week. Those were not my words, although I wish I’d written them!
Cheers,
Jake.
10-4. Yeah, I made the assumption that anybody clicking through to your site would notice that it was from WSJ. As they say: it makes an “ass” out of “u” and “umption”.
Thanks. Fixed.