cyerman

Who Killed Frannie?

Paulson is just the fireman called to the fire after it was an inferno. Who killed Frannie? Not one factor of course, but I vote for adding the U.S. Congress which long ago abandoned its oversight of the executive upon the input of huge amounts of lobbying money. Such inputs should be criminalized but they won't be because the criminals also control the writing of the laws and their implementation. We have not seen the end game yet.

One other thought. Is it a valid perspective to say that since the U.S. subsidizes everything from the farmers to oil industry to medical care to the poor to small business - there are thousands of subsidies in various forms in the 'budget' - what difference does it really make if the U.S. adds yet another taxpayer subsidy program by taking fannie and freddie 'public' - er that means with yours and my taxpayer dollars? No difference except each such brick sinks the country ever more deeply into financial oblivion?