July 13, 2008
I heard the criminal Chris Dodd today defending Freddie and Fannie as great, sound instiutions, and don’t worry, because the “leaders of our economy” (Bush, Paulson, Bernanke, Barney Frank, and himself) were in charge. There is no reason to panic, he said. So, given Rockwell’s Law (always believe the opposite of what a government official says), Panic!
But I would believe Dodd if he said this: I am investing all my millions in Fannie and Freddie, to demonstrate my faith in these fascist monstrosities. Chris? Time to step up to the plate.
Also funny to see crooked Senator (if I do not repeat myself) Chris Dodd on Wolf Blitzer’s CNN show. Wolf tried to ask him a question about the shaky Fannie-Freddie, and Dodd – head of the Senate Bankster Committee – panicked, almost yelling that no one must ask a hypothetical question about these FDR-Nixon fascist institutions! Hypotheticals can cause trouble! SHUT UP!
We all know that Fannie and Freddie are bankrupt. Will Bush and Bernanke bring on global hyperinflation in a failing attempt to keep housing prices from falling as they must? This we know: the government with all its guns cannot repeal economic law. It can only hurt the productive even more, as in the Great Depression, which lasted 17 years in large part because of the attempts to keep prices and wages artificially high.
BTW, what midgets US public officials are. Have they always been thus, or do we just see them more?