George Will recalls how in 1983 the U.S. government created Fannie Mae to advance its objective of increasing homeownership among Americans.
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In the midst of the dialectic maelstrom re: government bailouts (housing, investment banking, and now the auto industry), it is worth noting that if the matriarchal Nanny State had not baked her sugary, icing-laden Fannie Cake for the homeowner-less masses in the first place, we would not be suffering from these terrible stomach aches today.
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The creation of a quasi-governmental agency that implicitly guaranteed its obligations vis a vis the cash coffers of the American taxpayer so egregiously violated free market principles and common sense that I can scarce fathom how anyone thought it was a recipe worth mixing up to begin with.
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When a legislative prescription calls for one part socialism, we should tear the page to pieces while muttering, “We don’t serve that poison here.”
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I am reminded of this quote:
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”No man’s life, liberty, or property are safe while the legislature is in session.” – Mark Twain (1866)
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I shall now go chew on some Pepto tabs and try to quell this ache in my gut…
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(Hat Tip for the Twain quip to this list of 99 great libertarian/free market quotes by the guys over at All American Blogger.)
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(NOTE: The cooking analogies are dedicated to my new friend Kat who is a healthy cooking expert and the lovely much younger trophy wife of Blue Collar Muse. When she gets her blog up and running, I will link it up.)
