Two Things

1.  The dog is up and around and keeps trying to get back in the car.  So, there you go.  That, my friends, is in part what they mean by “game” when they talk about bulldogs.

2.  I see the feds are having to take over Freddie Mac and Fannie Mae.  So, what was all that talk about privatizing social security?

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8 thoughts on “Two Things

  1. To my small-government conservative friends out there, not to worry. As soon as the taxpayers bleed enough into Freddie Mac and Fannie Mae to get them standing on their own two feet again, they’ll be put back into the more competent custody of the invisible hand.

  2. I would think that most ‘small government conservatives’ wouldn’t even want there to BE a Freddie Mac or Fannie Mae.

    I’m gonna guess here that a bunch of bleeding heart liberals whining about poor people getting loans somehow led to the birth of these institutions.

  3. As usual, Exador, the facts have a liberal bias.

    What are the Origins of Freddie Mac and Fannie Mae?

    Fannie Mae was created after the unregulated greed of big capitalists (and the enabling of their conservative allies in government) helped usher in a global economic collapse. Part of that collapse in the U.S. took down the housing market. Fannie Mae was created

    …in order to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing.

    Why would the government want to do that in the wake of an economic collapse (i.e. epic fail of the ‘free market’)?

    A healthy U.S. economy depends heavily on a strong, economically healthy middle class (i.e. large numbers of people who can afford to buy things). Fannie Mae (along with various New Deal programs and the post-WWII economic boom) helped build and solidify the U.S. middle class.

  4. She already has one

    Well, then, she needs some bushes so she will have cardinals there year round. I bet you’re going to tell me she has those already, too?

  5. Fannie Mae — created by Congress in 1938 at the request of banks to provide liquidity in the mortgage market. Held a monopoly on secondary mortgage market, as no other lender had the capital to compete with its attractive terms. As CS says, this (along with GI Bill, etc) helped to build broad strength in the middle class, a condition that is always favorable to the Republican party. (In places with a lot of inequality, both rich and poor have voted Democratic since WWII. When everyone is relatively the same, whether prosperous or poor, they’ll more likely vote Republican.)

    Freddie Mac — spun off as a private corporation in 1968 to balance fed budget and offset wartime spending. Acting on Reagan’s urging, the 1989 Congress stripped a lot of its regulatory mechanisms away. Notable liberals Alan Greenspan and Ben Bernanke have spent the last five years arguing that the government needs to regulate them more or they both would go under.

    Now they are both in a full conservatorship. If I were a fiscal conservative, I’d probably be ready to fling myself out a window. As it is, I have to wonder why it took the government 18 months to respond to what was clearly going to be a horrible mess. Did they really just have to wait until the convention was over so that they weren’t going to get blasted by irate fiscal conservatives?

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