Saturday, January 31, 2009

Fannie frayed

The question I would like to ask every Republican who argues that government meddling in the economy precipitated the end of prosperity as they knew it is: On whose behalf was the government meddling, anyway?

It's worth recalling that the many "poor people who couldn't afford to buy a home" only earned this title after Wall Street discovered that housing prices do not, in fact, go up forever. As long as they were, the "poor people who couldn't afford to buy a home" were affectionately known as "structured investment vehicles," and getting the government to facilitate their creation was very big business.

1 comment:

Anonymous said...

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