Wednesday, July 21, 2010
Finance Reform Bill Leaves Fannie, Freddie Unreformed
Lending giants Fannie Mae and Freddie Mac go unreformed after President Obama signs into law a massive 2,500+ page financial reform bill .
Socialist senator Bernie Sanders (I-V) seems to leave out hope that Fannie and Freddie will be dealt with in the future. Their roles in artificially affecting the housing market and bringing about the bubble and bust, we hope, will be dealt with more candidly then:
Since this bill is intended to regulate Wall Street, that is, private enterprises in a supposedly free market, it actually makes sense the bill does not address Fannie and Freddie: They are government entities, taken over by the federal government.