Socialism for the Rich
Date: September 11, 2008
While I don’t agree with all the comments made among this group of political and economic thinkers, this video is interesting. I think it’s safe to say, though, that the government’s takeover of Fannie Mae and Freddie Mac symbolizes little more than official paperwork. The government has been bailing out these two “companies” for a long time, and they have a history of governmental monopoly, so is it really any surprise that it’s finally been made official? Is it really any surprise that slight intervention begets complete intervention? Surely the only people shocked by this are those who very stupidly had faith in their politicians and government.
Strangely, people seem to forget their history (no surprise). A lot of the economic turmoil and arguments Americans go through today are directly related to items in Roosevelt’s New Deal, which didn’t take advantage of the free market.
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Esther
September 13, 2008 at 11:13 am
Completely agreed. The government fails to take to task misleading advertising, loopholes that evade risk management tables … the government is the one bailing them out. Thanks for sharing.
