A fascinating study in crony capitalism by Paul Gigot.
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"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."
The abiding lesson here is what happens when you combine capitalism with with government Socialism.
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