Dispenser of Negativity
- May 30, 2007
- Reaction score
- Political Leaning
Taxpayers are stuck, too, with the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), government-sponsored enterprises that had special privileges, including a line of credit at the U.S. Treasury. By channeling several trillion dollars into subprime mortgages, Fannie and Freddie did more than anyone else to cause the housing bubble that burst in 2008. Thus far, the government has committed American taxpayers to cover as much as $400 billion of Fannie’s and Freddie’s losses.
So who honestly say the government run businesses are a good idea?
The Disaster of Government-Run Businesses, Part 2 by Jim Powell