Kathianne
10-12-2008, 07:43 AM
Sheesh, for a second there I thought they were coming for my G5 and ipod. ;)
http://www.pittsburghlive.com/x/pittsburghtrib/opinion/s_592733.html
The Macs must go
By David G. Oedel
Sunday, October 12, 2008
At the time, it was perhaps the biggest bailout in U.S. history. Today, one month later, the federal takeover of mortgage giants Fannie Mae and Freddie Mac has been all but forgotten in the drama of the global credit crunch.
Washington careened off to pass a bigger bailout before a clear plan emerged about Fannie's and Freddie's future. The uncertain cost of their conservatorship is sobering enough. But a more subtly troubling matter is what to do with them after things settle down. There are several options, but history gives a clear warning: Nationalization of industry is easy; privatization is hard.
Some say that this is uncharted territory, but that's flat wrong. Washington has tried to privatize Fannie Mae before. In 1968, Fannie was a government agency that had been serving to inject liquidity in the housing market for 30 years. But finally President Johnson signed legislation ordering it out of the governmental garden. Easier said than done, as it turns out....
http://www.pittsburghlive.com/x/pittsburghtrib/opinion/s_592733.html
The Macs must go
By David G. Oedel
Sunday, October 12, 2008
At the time, it was perhaps the biggest bailout in U.S. history. Today, one month later, the federal takeover of mortgage giants Fannie Mae and Freddie Mac has been all but forgotten in the drama of the global credit crunch.
Washington careened off to pass a bigger bailout before a clear plan emerged about Fannie's and Freddie's future. The uncertain cost of their conservatorship is sobering enough. But a more subtly troubling matter is what to do with them after things settle down. There are several options, but history gives a clear warning: Nationalization of industry is easy; privatization is hard.
Some say that this is uncharted territory, but that's flat wrong. Washington has tried to privatize Fannie Mae before. In 1968, Fannie was a government agency that had been serving to inject liquidity in the housing market for 30 years. But finally President Johnson signed legislation ordering it out of the governmental garden. Easier said than done, as it turns out....