The CATO Institute has a number of excellent articles summarizing the fiasco with the Fannie Mae and Freddie Mac, but there are two longer policy papers that discuss the issue in depth, “Freddie Mac and Fannie Mae: An Exit Strategy for the Taxpayer,” by Arnold Kling, Briefing Paper no. 106, September 8, 2008; “Fannie Mae, Freddie Mac, and Housing Finance: Why True Privatization Is Good Public Policy,” by Lawrence J. White, Policy Analysis no. 528, October 7, 2004.
Clearly the Bush Administration failed on a number of fronts. He failed by adopting the disastrous idea that everyone in this country should own a house (a socialist idea), and he failed to address a problem that has been in the making for well over six years within the mortgage industry ( lack of leadership). No matter what party wins, the next administration will have to deal with this issue with a greater effort because Bush only put a band-aid on a sucking chest wound and actually led this country straight into full blown socialism. And we all know once a government “solution” is adopted it is almost next to impossible to get rid of. Now lets see if we can rid ourselves of this “little” piece of socialism.
