Wednesday, July 23, 2008

The Fannie Freddie Bailout

A fascinating study in crony capitalism by Paul Gigot.

Money Q:

"The abiding lesson here is what happens when you combine private profit with government power. You create political monsters that are protected both by journalists on the left and pseudo-capitalists on Wall Street, by liberal Democrats and country-club Republicans. Even now, after all of their dishonesty and failure, Fannie and Freddie could emerge from this taxpayer rescue more powerful than ever."

1 Comments:

Anonymous r said...

The abiding lesson here is what happens when you combine capitalism with with government Socialism.

July 23, 2008 at 10:19 AM 

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