I was going to explain why the Federal takeover of Freddie and Fannie was only good news to China and JP Morgan...

... and not American citizens.

But Becky beat me to it.

Ask yourself why Asian stock markets and bourses are celebrating this morning, and why anybody thinks its good for the average homeowner.

You don't have to be a Libertarian to realize that both Senators McCain and Obama are pandering on this issue (but it helps).

Comments

Delaware Watch said…

It's apparently good for the stock market:

http://www.nytimes.com/2008/09/09/business/worldbusiness/09markets.html?partner=rssyahoo&emc=rss

September 8, 2008 at 10:31 AM

Steven H. Newton said…

And its good for the stock market because its a bailout program for irresponsible banks.

I do not believe in privatizing gain supported by socialized loss any more than you do.

September 8, 2008 at 1:13 PM

said…

All PolySci folk are just Hitler Dees and Hitler Dums go moi.

Stay on groovin' safari,
Tor

September 8, 2008 at 4:54 PM

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