Re: Jimmy...


[Follow Ups] [Post Followup] [Dodge Power Wagon Forum]


Posted by David Sherman on Saturday, January 17, 2009 at 13:04:54 :

In Reply to: Re: Jimmy... posted by MoparNorm on Saturday, January 17, 2009 at 12:10:20 :

I don't blame Jimmy Carter for all that. He got elected simply because, after Nixon, he seemed like an honest guy. The rest of that stuff was a long time coming, even though he didn't do a very good job of dealing with it. As for Fannie Mae, that started out as a Federal program under FDR's New Deal. LBJ privatized it to get it off the government's books so as to make the federal budget look better so he could borrow more for his Great Society programs. It was never totally separate from the government, however, so congress and presidents kept tinkering with it and telling them they should lend to more poor people and bad parts of town. Eventually the bad loads came home to roost and the government re-nationalized the company. Nobody now seems to care what the effect is on the government's "books" -- so long as people are buying treasury bonds at 0.1% interest, the government can just keep throwing money everywhere.



Follow Ups:



Post a Followup

Name:
E-Mail:
Subject:
Message:
Optional Link
URL:
Title:
Optional Image Link
URL:


This board is powered by the Mr. Fong Device from Cyberarmy.com