The U.S. Financial Posse struck again this weekend with another rescue package. I’m sure you’ve seen dozens of articles so I’ll not rehash. But for an all you can eat link fest on the GSE takeovers see: Fannie & Freddie Weekend Wrap Up/Linkfest assembled by The Big Picture.
For my part I’m just going to point out that literally while the Republicans in Washington, with the McCain campaign’s approval, was preparing the bail out, the Republican convention was busy adopting a housing platform that said:
“We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all…”
Don’t you love politics.
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