Liberty vs. Leviathan

Chronicling Liberty's battle against Leviathan

Fannie, Freddie and NASA

I started reading Rick Ackerman at Goldseek.com years ago.  I like him so much that now I subscribe to his free daily email update.

His commentary today had this word picture that was too good to not share.  Regarding the latest government plan to goose housing prices: “Not that such a hair-brained scheme could possibly succeed. NASA might just as well try to launch a trash can into orbit by stuffing it with cherry bombs.”

And while in principle I can’t condone any kind of bailout, if we’re going to have one, I vote for Rick’s remedy: “It would probably be cheaper in the end for the Treasury (i.e., taxpayers) to mail out checks to every homeowner for 20% of the amount of their mortgages.”

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