by the Sandwichman
Too big to fail? Not really. The government takeover of the two mortgage giants signifies that Fannie and Freddie had already failed. The wager now is that government regulators, with access to presumably "unlimited" financial resources, will (in the future) be able to better manage the rubble. As always, the invisible hand guiding the free market looks suspiciously like the State.
Proponents of the "free market" always assume a market that is only "free" if they win; if they lose, they should be "compensated."
"As always, the invisible hand guiding the free market looks suspiciously like the State."
And the invisible hand guiding the state are those of the corporate elite and just plain filthy rich. As often noted, the free market refers to the market manipulators having a free hand to make adjustments to the market as meets their own selfish needs.
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