Jackie Danicki

As much as I loathe politicians, even I can scarcely believe what a wreck these evil shits are making of this country. Brace yourselves, people: Their latest power grab is going to make things a whole hell of a lot worse.

The GSEs got into an enormous mess because their special status allowed them to take an unsafe chunk of the market, its executives were rewarded for risk-taking, and its management was excessively entangled with the government, which made it hard for them to say no when the regulators asked them to take on even more loans. Congress’s plan is . . . more of the same.

-Megan McArdle, via Jeff Nolan, who adds:

I, for one, am terrified of what Congress is doing and what they aren’t doing. You won’t hear this story told in the mainstream press because, as my good friend Harriet points out, it’s complicated and doesn’t explain itself graphically. Furthermore, it’s not partisan so there is no natural protagonist/antagonist to root for.

Filed under: Life