On Mar 4, 6:39Â*pm, ∅baMa∅ Tse Dung wrote:
Separating economic myth from economic fact

[...]

http://reason.com/archives/2011/03/0...fre/singlepage

http://reason.com/archives/2011/03/0...fannie-and-fre

Fannie and Freddie, created to increase the availability of mortgage
loans, misused the government's support to enrich Fannie and Freddie
shareholders and Fannie and Freddie executives by backing millions of
shoddy loans. Taxpayers so far have spent more than $135 billion on
the cleanup.

Fannie and Freddie allow people to borrow at lower rates because
investors are so eager to pump money into the two companies that they
accept relatively modest returns. The key to that success is the
guarantee that investors will be repaid even if borrowers default -- a
promise ultimately backed by taxpayers - Socialized risk, i.e.
Socialism.

"Socialism is great!" - Until it runs out of other peoples money.

Fannie, Freddie and other federal programs now support roughly 90
percent of new mortgage loans because lenders cannot raise money
(investors are not stupid) for mortgages that do not carry government
guarantees. Socialized risk, i.e. Socilism.

"Socialism is great!" Until it runs out of your money, i.e. Serfs.

The Road to Serfdom

[...] "every step away from the free market and toward government
planning represented a compromise of human freedom generally and a
step toward a form of dictatorship--and this is true in all times and
places." [...] "government planning would make society less liveable,
more brutal, more despotic. Socialism in all its forms is contrary to
freedom."

http://mises.org/resources/2402/The-...-Serfdom-Video

How does it feel, Serfs?