Election Spells Doom for Fannie and Freddie - UPI.com: "The Republican landslide that swept through the House ensures that the outcome will be a radical policy change that will rely much more on the private sector, especially lenders and investors, and less upon Federal support. Fannie and Freddie will certainly cease to exist in their current forms and government exposure to the risks involved in financing mortgages will be reduced."
----------------
If that happens, mortgage interest rates will go through the roof.
3 comments:
> If that happens, mortgage interest rates will go through the roof.
If that happens, we can just pay for our houses with our credit cards.
This is like the designed-to-fail fixes that the legislature always has for HOAs - more privatization. Like a tarbaby, privatization just leads to more opportunities for graft and corruption.
> privatization just leads to more opportunities
> for graft and corruption.
But it's privatized graft and corruption, so not only will the conservatarians not disapprove of it, they will rationalize it as a positive benefit.
After all, the victims agreed to it.
Like the liberals and progressives with their Che Guevara t-shirts and Hope-And-Change bumper stickers, conservatives/libertarians/Ayn Randians are not opposed to the Road to Serfdom. The only difference is they want it to be a privatized toll road. The philosophy has descended into a parody of corporatism.
Or, as the Professor put it back in August 2008:
"repressive libertarianism," where certain people who call themselves libertarians invariably side with property owners who want to limit other people's liberties through the use of contract law. Property rights (usually held by somebody with a whole lot of economic clout) trump every other liberty.
(yeah, I like to quote that a lot)
In Libertopia, the prohibition of slavery can be bypassed by fine-print in an adhesion "contract," where you "agree" to waive your 13th amendment rights.
Post a Comment