Tuesday, July 15, 2008

Robert Higgs on Fannie Mae/Freddie Mac Bailout

Yes, what is a government for, if not to save us from the impending disaster that its own policies have produced? Thank heavens for the government!...

Ah, equity investment! Now we’re looking at overt government takeover. For laggard students, let us define socialism: government ownership and control of the major means of production (including production of financial services). In a pinch, we can always resort to socialism—after all, we are doing so only in order to save capitalism!

read the entire analysis

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