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  • Freddie Mac

    Let's Get Congress Out of the Housing Market

    Defending $150 billion worth of unrelated tax benefits that Congress stuffed into the already $700 billion Wall Street bailout bill, Rep. Barney Frank (D-MA) told the International Herald Tribune: “If you don’t want politics in this process, you probably shouldn’t be handing it over to 535 politicians. That’s democracy.” We … More

    Removing Uncertainty from the System

    When a Nobel Prize-winning economist tells you something is too complicated to understand, pay attention. That is just what Nobel Laureate Gary Becker said about the financial crisis in Tuesday’s Wall Street Journal. The main problem with the modern financial system based on widespread use of derivatives and securitization is … More

    Heavily Edited from New York, Its Saturday Night!

    NBC has re-posted that Wall Street bailout skit we mentioned before. NBC says they yanked the skit due to their ‘standards‘ but the Los Angeles Times notes: In the skit, a parody of a C-SPAN news conference replay, the Sandlers express puzzlement over why Pelosi invited them as victims because … More

    "They Had a Blank-Check from the Federal Government"

    The left really has no idea what free markets are. Witness Washington Post columnist Harold Meyerson who wrote a column last week blaming the current credit crisis on ‘unregulated capitalism’ and ‘laissez faire’ policies. According to Merriam-Webster, ‘laissez faire’ means: “a doctrine opposing governmental interference in economic affairs beyond the … More

    The Left's Crony Capitalism Hits 'Saturday Night Live'

    It’s not often we get to wholeheartedly endorse a Saturday Night Live skit, but from beginning to end this spoof of a post Wall Street bailout conference has at all: *****NBC HAS REMOVED THIS VIDEO FROM THEIR WEBSITE. NO EXPLANATION HAS BEEN GIVEN.***** Not only does SNL make mention the … More

    More on Fannie/Freddie Subprime Link

    George Mason University economics professor Russell Roberts writes in today’s Wall Street Journal: Beginning in 1992, Congress pushed Fannie Mae and Freddie Mac to increase their purchases of mortgages going to low and moderate income borrowers. For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie … More

    CAP's Faulty Fannie/Freddie Facts

    The left is desperate to pin this financial crisis on the free market.  The left knows that if the American people knew the truth about how government intervention in the market caused this current credit crunch, their agenda would be dead for a generation. So what do they do? They … More

    Morning Bell: A Financial Crisis of Government's Making

    Campaigning in Colorado yesterday Barack Obama blamed the financial crisis on “a culture of deregulation.” No, we don’t know what this means either. Pressed for specifics, some on the left manage to identify the 1999 Gramm-Leach-Bliley law as the deregulation source for all our problems. But as we have detailed … More

    Morning Bell: The Wrong Direction

    There is no doubt that past government intervention in the market, particularly by Fannie Mae and Freddie Mac, is largely to blame for the current financial turmoil. And while past government intervention cannot be used to justify further government interference, we also have to ask how much unnecessary pain the … More

    Morning Bell: Did Ken Lay Get to Write Sarbanes-Oxley?

    The $700 billion that Treasury Secretary Hank Paulson is requesting from Congress to restore liquidity in the financial markets is a breathtaking sum of money. But it is also important to remember Paulson has already committed $200 billion to recapitalize Fannie Mae and Freddie Mac. The size of their bailout … More