Tuesday, April 18, 2006

Fannie Mae - A Case History of Good Intentions Gone...well, you know

If you can't see the obvious folly that Hillary Clinton's National Investment Authority would be, here is a glimpse of how such an entity will end up one day - just like Fannie Mae, ostensibly a government agency that promotes worthy outcomes in the economy but that ends up 1) distorting markets, 2) exposing taxpayers to gigantic liabilities, and 3) devolves into an insider's feeding trough that resorts to corrupt lobbying and influence peddling in order to keep its artificial advantage and privileges.

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