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Tag: Fannie-Freddie

To Laugh or Not To Laugh...

By JGillman, Section News
Posted on Thu Mar 11, 2010 at 10:02:36 AM EST
Tags: Clowns, Democrats, Michigan, Bank, Fannie-Freddie (all tags)

The idea that another bank could be set up to operate somewhat like the Fannie-Freddie banks that were responsible for the biggest crash in our economy since the depression is a real hoot. Its especially funny when you have a gubernatorial candidate in Michigan suggesting Michigan taxpayers can foot the bill.

Virg Bernero says "it would be a lending "backstop" and be used to help ease the current credit crunch. " Suggesting bonds and state funds be used to create the bank.

As one of our esteemed writers posited two days ago:

"What Virg seems to be unable to fathom is that the credit crunch is the result of stupid government busybodies like himself not only enacting regulations that enticed lenders to play Texas Hold 'em with depositor's money, but also pronounced the gamblers too vital to the American economy to fail. Their wise intrusions into what should be a private enterprise have tightened the credit markets so thoroughly that even the Chinese are starting to tire of our panhandling."

A gamble. ..and at a table where ALL the players are supposed to win...

(2 comments, 600 words in story) Full Story