Yes, the same Freddie and Fannie -- once implicitly guaranteed by government and now explicitly run by government -- that helped, through social engineering, to push us into recession. It is vital, apparently, that we keep them afloat.
The only business plan that is more staggeringly counterproductive came from the auto industry, which is back for another bite.
In last year's second quarter, GM lost about $118,000 a minute. So naturally, GM would like another $16,600,000,000 so it can fire 47,000 people. Makes sense. Because you decide not to spend your money on a GMC Acadia, the government will make you pay for one anyway.
After meting out nearly $1 trillion of government expansion in the stimulus -- including the canard of "tax relief," which, in effect, was only more wealth spreadin' -- how can Washington say no to anyone?
Obama has told us the American dream must be saved. So far, his remedy entails government rewarding bad behavior, encouraging dependency, subsidizing failure and penalizing success and prosperity.
It's the new patriotism. So don't complain.
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