The federal government announced this weekend that it would seize control of Freddie Mac and Fannie Mae, the country's two biggest mortgage firms, in order to keep them afloat. What do you think?
"Crap! Almost my entire Fantasy Privatized Social Security portfolio was in Freddie Mac."
"Nothing rectifies out-of-control market failures like a healthy dose of government intervention and mountains of bureaucracy."
"I think the government should let them go broke and give some of America's mom-and-pop mortgage lenders a chance."
Tuesday, September 9, 2008
Fannie, Freddie and the Man in the Street
Yeah, yeah. We've heard what Buffett and Rogers think but what about real people? From (you know who):