Sunday, September 5, 2010

Fannie Mae: Public Enemy #1?

Stories like this infuriate me. Fannie Mae, the government-run, taxpayer owned organization most recently known for passing on roughly $100 Billion in losses to the US taxpayers (with undoubtedly more to come), is launching a new program called HomePath to allow people to gamble on houses in foreclosure. In addition to directly creating untold billions in additional losses for US taxpayers (ha ha, suckers), this program will help keep the housing market artificially inflated, making it more difficult for savers to purchase affordable housing, rewarding speculators, and further delaying economic recovery for the country.

Seriously, what kind of a sadistic incomprehensibly monumental moron dreamed up this atrocity? Furthermore, what band of corrupt thugs in the government oversight group which is running Fannie Mae actually approved this brazen theft of public money? If ever there was a clear-cut case for why government should never, ever be running a company even remotely connected to a free market in the US, this could be the gigantic poster child.

If I were running the country, everyone connected with this brazen, incomprehensibly corrupt scheme to directly steal from the US taxpayers would be tried for treason, and if found guilty, executed. The sheer scope of the crime, potential damage, and depth of corruption and malfeasance would demand a complete purge, if not a dismantling entirely.

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