tg

Republican Bailout Counterproposal? Utterly Idiotic

And to the original article....what a crock. The so-called "idiots" in this story are the ones like Barney Frank, who in '00 said that there was no federal liability "whatsoever" in Fannie and Freddie. From the WSJ : “Mr. Frank was publicly arguing for an increase in the size of their combined $1.4 trillion portfolios right up to the day they were bailed out. Even now . . . he opposes Treasury’s planned reduction in the size of the portfolios starting in 2010.” Yes, thank Mr. Frank and those like him for the Community Reinvestment Act and the true cause of this mess. And as far as eliminating capital gains, can you think of a better way to free up capital? It did wonders for Singapore.