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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (146914)	11/12/2008 2:52:57 PM
From: geode00	Read Replies (1) \| Respond to of 173976

Fannie and Freddie have been private companies for some 40 years IIRC. What the heck is your definition of a private company if public shareholders aren't? The government controls lots of different aspects of corporations which is why Amex, among others, is petitioning to be changed into a bank holding company as things in the credit card markets deteriorate. Without government you have no such thing as corporations. Does that make said corporations government entities? I understand, having heard endless smarmy 'analyses' by the AEI and other right wing groups, that the entire blame for the financial meltdown will be laid on the steps of Fannie/Freddie/Government. That's just ridiculous but it doesn't prevent the right wing from floating that as an idea. It absolves idiot incompetents known as CEOs of private companies, hedge fund managers, insurance executives, loan officers, mortgage brokers, real estate agents, managers of ratings agencies, etc. from blame because, heck, it's all the government's fault because government is always at fault. NO SALE "Government acts based on political incentives. The private sector acts to try to make money." Oh baloney. That's a junior high school understanding of human nature. If government acts based on political incentives such as VOTES to stay in office, then Bush and the GOP are INSANE. If they wanted votes, they would have withdrawn from Iraq (never have gone in would be better), given tax breaks to the middle class instead of the ultra rich, not spied illegally on citizens, etc. Instead, they were out to enrich themselves using that great facility called the Iraq war which is now being eclipsed by that great laundering facility called the Treasury Department. If you can't defend your use of the term 'preferential treatment' in the face of 15% tax rates for hedge fund managers then why don't you admit it.