Smack in the Fannie

I have heard some on the far left argue that its is capitalism to blame for our current economic disaster and that a turn toward socialism is actually a good thing. Well this story ought to set them straight - well except that they are COMPLETE MORONS to begin with.

http://www.latimes.com/business/la-fi-fannie9-2009may09,0,3211158.story?track=rss

I argue that Fannie Mae and her buck-toothed sister Freddie Mac are two of the biggest causes of the financial melt down. How, Dearest Citizen Zane, you may ask? I'll explain. You know all of those really stupid loans that were handed out to people who couldn't afford them? The ones that were supposedly forced upon them by predatory lenders? Well, no sane lender is going to give $400,000 to someone too irresponsible to pay it back. Step in the government and their little friends Fannie and Freddie. They will buy those bad loans from the original lender and hold them so that the borrowers, who have no business buying homes that they cannot afford, can get into houses!!!! Its a wonderful idea if you are a liberal. Lots of 'deserving' people who otherwise would not enjoy the benefits of home ownership can have a neat new house! However, the downside to any liberal make-us-all-equal program: now we are looking at as much as $400 Billion in taxpayer money to bail Fannie out of all of those bad loans.

This is the problem with letting the government get mixed up in capitalism. They tend to allocate resources toward their political agendas rather than sensible choices. And Congress is now budgeting trillions more to be wasted??? I remember our excellent public servant Barney Frank proclaiming to all that Fannie was financially sound. And this nitwit is a big gun on the Senate Banking Committee!!! If Citizen Zane had looked into Fannie's books, I would have screamed bloody murder. I saw recently that Barney Frank was blaming the Bush administration for Fannie Mae not being solvent because of a bunch of deregulation. Can you imagine the uproar if Bush would have cut off sub prime loans to the poor? Maxine Waters would have been screaming from one end of the weekend to Thanksgiving. She said that Fannie was good too. Sure Alfred E. Bush wasn't minding the store, but c'mon Barney & Maxine, accept some responsibility! If I lived in Taxachusetts, I would vote his stupid ass out. I wish I still lived in Cali so that I could vote against Maxine too.

So now, I read that the Senate is now working on a national health insurance plan:

http://news.yahoo.com/s/ap/20090509/ap_on_go_co/us_health_overhaul_public_plan

Now I for one understand that the nation's medical care delivery system is ridiculous, but I can tell you right now what is going to happen if the politicians decide to run it. Click on that first link and read about Fanni Mae again. Citizen Zane would much rather leave the health care industry to Wal-Mart. Think I'm joking? Read this:

http://articles.moneycentral.msn.com/Investing/Extra/InStoreClinicsBoostWalMartsHealth.aspx

My guess is that if the government took over the health care system, we would be rationing care, have the bored and hypochondriach contingent overusing the system, and probably cost the tax payers at least three times the amount per visit that they could pay Wal-Mart to handle the same job. Hmmmm, maybe they could put Barney Frank, Maxine Waters, and Donald Rumsfeld in charge of the whole thing too. Just food for thought - Citizen Zane