Let's see...about 78% of the houses in the U.S. of part of A. have been financed under Fannie Mae and Freddie Mac. The government gave each lines of credit and subsidies worth billions of dollars. Subsidies and lines of credit--creating government sponsored entities--increases the risk of a collapse because it reduces fiscal responsibility. This isn't a new problem: It was specifically predicted in 2003, by Ron "35 Questions on Iraq" Paul.
Savings and loans. Airlines. Big Three automakers. Government of Puerto Rico. Subsidies and lines of credit waiting to implode.
Posts
No comments:
Post a Comment