DC Housing Bear

Will a 7% Mortgage Threat Doom Fannie and Freddie?

What exactly is so wrong with getting rid of the GSEs? I find the Journal's coverage compelling. Housing is already one of the most subsidized commodities in this country, is it a wonder why housing gets overbuilt? Why do the GSEs need to exist at all? If we need to rescue them because they are to big to fail, then maybe the real solution is for them not to be so big, or better yet, not to exist at all.

I have yet to read a cogent, logical argument as to why we need the GSEs.

As for Bill Miller, I agree with the last comment. What a joker, even if your post made any sense, you lost all credibility with that last sentence. If this bear market has taught us anything it's that most "successful" fund managers or gurus are not as smart or savvy as the media wants us to think. They simply employed a strategy that worked until it stopped working. Don't be fooled by randomness.