Fannie’s scandalized, Freddie’s dead … next meltdown already started?

posted by
February 9, 2011
Our Future
by Richard (RJ) Eskow  
Posted in Commentary, PND Commentary

"Here's an idea: Let's give hundreds of billions of dollars in government-backed guarantees to private banks so they can make a fortune writing mortgages without any risk to themselves. Hey, what could go wrong? The FCIC's recent report illustrated an important lesson from the economic meltdown: Privatization, not big government, ruined Fannie Mae and Freddie Mac. Running a government program like a private corporation leads to the worst excesses of executive self-indulgence." (02/09/11)

http://tinyurl.com/4kcvtw8  

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