Saturday, July 17, 2010
Politicians on a dragonslaying mission
Harrison Price adroitly summed up the Dodd-Frank financial reform bill yesterday. This bill is a victory for Fannie Mae cheerleaders, Chris Dodd and Barney Frank. They will sell it to the public as a great accomplishment by liberal government to make the financial sector "safe." Yet, Fannie Mae and Freddie Mac are allowed to run their treasury busting business without nary a slap on the wrist---they continue to lose billions of taxpayer dollars each quarter. Liberals are going to claim that this bill is a great achievement. That is, of course, until another collapse rears its ugly head and then they will look to blame someone or something else.