On NBC’s Today Show this morning Steve Forbes proposed forcing the taxpayers to “capitalize” ten or twelve “Fannie Maes” so that they can compete with one another, as opposed to the current government-sponsored duopoly.
In years past, free-market economists would riducule such proposals as being no different from the Soviets’ failed attempts at “market socialism,” i.e., pretending to play free market funded by billions of dollars of tax theft and rigid governmental regulation.
(Another Wall Street “economic expert” on the show instructed us to be patient and “let the Fed and the regulators get us out of this mess”). Stupid pills must be the drug of choice on Wall Street these days.
6:44 am on July 16, 2008
