Sunday, October 5, 2008

Lost in Translation

As closet (and not so closet) socialists and Big Government liberals alike lined-up all this past week to shovel dirt on the concept of the “free market”, we’ve just gotta ask….

But by the time Mudd became Fannie's chief executive in 2004, his company was under siege. Competitors were snatching lucrative parts of its business. Congress was demanding that Mudd help steer more loans to low-income borrowers. Lenders were threatening to sell directly to Wall Street unless Fannie bought a bigger chunk of their riskiest loans.
Capitol Hill bore down on Mudd, as well. The same year he took the top post, regulators sharply increased Fannie's affordable-housing goals. Democratic lawmakers demanded that the company buy more loans that had been made to low-income and minority buyers.

…. what’s so “free” about that?

Article here.

We’ll have more on all this later.

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