Thursday, September 18, 2008

Ron Paul on Fannie and Freddie, circa 2002

Ron Paul, the perennial pain-in-the-ass that he is, gave a speech in 2002 on an act he was proposing, the Free Housing Market Enhancement Act. Essentially, it would remove government subsidies from Fannie Mae, Freddie Mac, and the National Home Loan Bank Board. He predicted the burst, and predicted the bailout. So it's interesting that in looking at the options going forward, weening of Fannie and Freddie off the government trough looks pretty remote.

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