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Originally Posted by rabbitproof
I'm beginning to think this bailout is a scare tactic, not unlike ones we've seen before related to terrorism and the other Hussein, that resulted in expanding executive branch powers, increased and unexpected burdens on taxpayers with no tangible expectations of these grand plans in sight.
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This thought has crossed my mind as well, but I think it's more of a function of the hubris of power (absolute corruption) than a well thought out plan. The intra-party debate is certainly framed in very much the same way this time around as it was in the Hussein days, it's a question of:
The Worst Case Scenario if We (the Government) Don't Act v. The Best Case Scenario if We Do...
It's a silly way to frame a question, but it comes naturally to those who gain power by acting and lose it by not acting. Moral Hazards abound.
Rhylan made
an interesting remark on Frannie and Freddie:
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This strikes me as something that will wind up as the second sentence in a paragraph kicking off a chapter in a history textbook about a really shitty era of American economic history.
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I think that sentence is going to read something like "the Government takeover of Franny Mae and Freddy Mac was a prelude to the catastrophic socialization of all aspects of the financial industry."