history repeats

U.S. Treasury to Make Open Market MBS Purchases

this has already ended up very badly, due to the private sector managers in the banks and brokers who snorted subprime paper like crack.

the gvt screwed up big time all right - by buying into the voodoo economics of 'regulation is bad'. any common sense regulatory action would have reined in the insane behavior of the bankers long ago.

Freddie/Fannie Plans In Motion; Why Are They Being Underplayed?

nobody is going to ask Joe to pay for this. the cost will show up in the destruction of the dollar....but will he connect that to bush's no-limit chinese CC? i doubt it.

there is nothing wrong with reasonable gvt regulation that can nip insanity in the bud. we put that in place following the first great depression and it didn't stop the great expansion of the middle class in the 50s and 60s.

Freddie/Fannie Plans In Motion; Why Are They Being Underplayed?

this never would have happened if we stuck to the traditional American system of moderate regulation. make policy with bumperstickers from 1980 like 'regulation is bad' and eventually the chickens come home. swings to the far right are followed by swings to the far left.