Wednesday, September 10, 2008

The unforgiving minute

Now that the government "owns" Freddie Mac and Fannie Mae, let's start the countdown clock:

Once the two lending organizations are back on their feet post-bail out--and that means the economy itself recovering from the trashing-out Bush gave it, so we're talking a process that will take years--there'll be all that mortgage money changing hands again, and so-called "free market" enthusiasts will naturally want a piece of it.

So they'll begin arguing that the government can't possibly run a mortgage business as well as private enterprise can. Far better to privatize--and, of course, deregulate--it.

And America, a nation with the historical memory of a gnat, will listen seriously. It really is only a matter of time.

Minute's up.

1 comment:

Chuck Butcher said...

It is sort of like the trickle down economice garbage, the Robber Baron Era would not be so named if it worked, and it never has since. Most American History courses touch on that subject, and...