kevinm

Read It and Weep for the USA

Does anyone truly believe that the U.S. government can handle $700 billion of mortgage purchases competently and without corruption? That they will do better than the free market would have done? After all, these are the same folks that got us into this mess in the first place--creating Fannie and Freddie, lax oversight of mortgage lending, actually encouraging and requiring bad loans in the name of the 'right to home ownership, keeping interest rates too low for too long...These are also the same people that said everything was fine right up until the moment that they switched and said 'we have to do this to avoid a global financial meltdown...'