The bail out of Fannie and Freddie confirms how far the US of A has drifted from a democracy with a market economy.
No one is yet even talking about the real problem with Freddie and Fannie – putting billions into a dysfunctional Agency backed system to put the wrong size house in the wrong location (aka, the Affordable and Accessible Housing Crisis).
Agency programs demonstrate a bipolar oscillation between IRRATIONAL EXUBERANCE and pandering populism on the road to Collapse.
P.S. Why is the Freddie Foundation logo on ads for a charity basketball game?
P.S.S. No wonder he is in the Hall of Fame:
“Another thing Riley would have done differently would have been actually living in New York (the Core of the New York / New Jersey / Connecticut New Urban Region) instead of maintaining a home in (a relatively remote part of or the Region) Connecticut. That may have contributed to some of the burnout.”
The only help that can be offered to commuters is to help them become non-commuters.
EMR