lower interest rates: US Treasury takes over Fannie and Freddie: What does this mean?
- 09/09/08 07:48 PM
This weekend we witnessed the biggest Govt expansion into the private sector ever. I'm a free enterprise guy and personally, I don't like Govt involvement in the private sector. Fannie and Freddie where designed as a publicly chartered agencies designed to operate in the private sector, and when things are going well you can make this work, but during down times you cant. They have an internal conflict of interest because they're trying to serve the general public and also be profitable for investors and shareholders. It's like having a non-profit company with shareholders. You can't have it both ways. Earlier this year … (3 comments)
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This weekend we witnessed the biggest Govt expansion into the private sector ever. I'm a free enterprise guy and personally, I don't like Govt involvement in the private sector. Fannie and Freddie where designed as a publicly chartered agencies designed to operate in the private sector, and when things are going well you can make this work, but during down times you cant. They have an internal conflict of interest because they're trying to serve the general public and also be profitable for investors and shareholders. It's like having a non-profit company with shareholders. You can't have it both ways. Earlier this year … (3 comments)
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