Proof that Washington politicians do not know what they are doing

It seems a lifetime ago, but it's only been six months since the Congressional Budget Office put a $25 billion price tag on the legislation to bail out Fannie Mae and Freddie Mac. At the time, then CBO Director Peter Orszag told Congress that there was a "probably better than 50%" chance that the government would never have to spend a dime to shore up the two government-sponsored mortgage giants.

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celticlord said:

Fan and Fred's Lunch Tab



Six months and a quarter of a trillion dollars later, Peter Orszag has been elevated to head the Office of Management and Budget. Rewarding failure appears to be the one constant for all Democrats.

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RightinNYC said:

I can't fault Orszag for that, as he's an absolutely brilliant dude. Nobody can always be right when predicting things in this economy.

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celticlord said:

There's wrong, there's dead wrong, and then there's totally clueless. On Fannie Mae and Freddie Mac Orszag falls into the latter category.

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RightinNYC said:

And you're basing this conclusion on....?

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