U.S. nears rescue plan for Fannie and Freddie
Deal said to involve change of leadership, infusions of capital
In case you were wondering, that would be “your” capital.
To paraphrase B-Daddy when discussing this wonderful turn of events: “When, ultimately, everyone knew the Feds would step-in, was it any surprise that bad lending practices would be permitted to flourish?"
Story here.
Also, great read here from the WSJ on the dangers of combining crony capitalism and lefty do-goodism as practiced by the Fannie Mae gang
Sunday, September 7, 2008
Headline of the Day (...if today were yesterday)
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2 comments:
They should have carved them both up into smaller bits and then sold them off at a loss. Of course, had they done that, they wouldn't be able to use them to hand out political goodies.
Dean,
Thanks for the props on the quote, I'm sure you worded it more eloquently than my original. I put up a post and quiz on this over at TILoBO
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