The bail out of Fannie and Freddie confirms how far the US of A has drifted from a democracy with a market economy.

No one is yet even talking about the real problem with Freddie and Fannie – putting billions into a dysfunctional Agency backed system to put the wrong size house in the wrong location (aka, the Affordable and Accessible Housing Crisis).

Agency programs demonstrate a bipolar oscillation between IRRATIONAL EXUBERANCE and pandering populism on the road to Collapse.

P.S. Why is the Freddie Foundation logo on ads for a charity basketball game?

P.S.S. No wonder he is in the Hall of Fame:

“Another thing Riley would have done differently would have been actually living in New York (the Core of the New York / New Jersey / Connecticut New Urban Region) instead of maintaining a home in (a relatively remote part of or the Region) Connecticut. That may have contributed to some of the burnout.”

The only help that can be offered to commuters is to help them become non-commuters.


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  1. Anonymous Avatar


    I agree with you entirely on this one, but hey, the stock markets today love the bailout. Now we’ll be giving Ford, GM and Chrysler another one.
    If I screw up, do I get a bailout?

  2. Anonymous Avatar

    Sure, and the farmers are getting record prices for their crops, along with the oil companies, do we hit them with windfall profits taxes?

  3. Anonymous Avatar

    The problem with socialism is that everyone wants their own particular brand, tailored to their own desires and priorities.


  4. Jim Bacon Avatar

    Like Peter says, the market is responding favorably to the bail-out. Anyone concerned about the long-term future of the country should be very, very worried. The U.S. is adopting the worst practices of ’80s-era Europe, bailing out the economic failures and siphoning capital away from the productive sectors of the economy. Even the Europeans have learned this is a terrible idea.

    We’re all Euro-weenies now. I guess that makes us Ameri-weenies.

    My 79-year-old mother has been saying that anyone who can afford to pack up and leave should head to New Zealand. I’m beginning to think she was right!

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