This editorial in the WSJ describes why ALL Americans should be fearful when government gets into the business of business. Bad things happen.
The lobby efforts of Fannie and Freddie gave them protection from oversight. This political protection allowed these organizations to profit handsomely for years and provide huge payouts to their management. These goons used their political muscle to cover up, influence, and keep their opponents quiet. Even going so far as to get vocal politicians moved to new committees and get them off their backs.
As Americans we should all be very scared about this bail out and the connection that Fannie and Freddie have to OUR government.
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