http://online.wsj.com/article/SB126168307200704747.html?mod=rss_Today%27s_Most_Popular
U.S. Uncaps Support for Fannie, Freddie
The federal government just announced that no matter how inefficient and corrupt Fannie Mae and Freddie Mac are, the people of this country will be required to support these organizations (through higher taxes). And make no mistake, these organizations are inefficient and corrupt. These organizations are part of the government that was supposed to prevent the mortgage meltdown that just destroyed the economy. I guess Fannie Mae and Freddie Mac weren't paying attention when it was explained to them what they were supposed to do.
But don't worry. Your uncle Sam is very forgiving. The government will let Fannie Mae and Freddie Mac bumble along, wasting taxpayer money, and not doing the job they are supposed to.
Because after all, the government is made up of incompetent bunglers and criminals, and they will never fire anyone for doing what they are already doing (behaving in an incompetent and criminal manner).
Friday, December 25, 2009
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