Last night Secretary Paulson announced that the U.S. would seize control of Fanny & Freddy Mae, the two largest loan corporations in America. Those two are so large that they could not fail, and yet there was the distinct possibility. And so the government stepped in. The terms of the seizure are not yet clear, but it’s sure to cost tax payers a bundle, although it will surely be less than if the loan system failed.
The administration probably did the responsible thing at this point in the game, by acting to see that chaos didn’t prevail in the loan market. However, all of their protestations of keeping government small should be taken with a very very very small grain of salt, given that this administration will have spent more money and placed America in more debt than the previous two administrations combined (and perhaps the 2nd Reagan administration). Also, stricter regulation of the loan market would have prevented such silliness in the first place, proving that some regulation actually saves us money.
So when Republicans say they’re for smaller government, be sure to ask who’s paying the bill for Fanny and Freddy.


He was doing just fine at his lovefest in the Twin Cities, but then Senator John McCain started talking about cutting taxes.
As I wrote earlier, he was palatable because he was talking about the least offensive tax, a corporate tax cut. As he takes a more offensive position by generalzing cuts, especially in light of news like the Federal Highway Fund running out of money, now I’m giving Obama the win for the economy, and McCain loses personality points for pandering.
Everyone and I mean EVERYONE tells you that the best thing you can do for yourself and others if you have a Windows system on the Internet is to run anti-virus software, and keep your patches current. Otherwise your system can be a nuisance to others, as it is broken into and used as a bot to attack others.
Prime Minister Putin – er – President Medvedev has laid out five “principles” of foreign policy, according to