- May 20, 2009
- 144,832
- 67,377
- 2,330
It should be obvious by now that the effect of Government, TARP and the FED was to kill off the private mortgage finance business and have the government essentially nationalize the US residential Real estate market.
As the market melted down, key decisions were made to liquidate the Investment banks that competed with Goldman Sachs and Chase, who were kept afloat, while Bear Stearns, Lehman and Merrill Lynch were essentially liquidated.
Worse yet, the two firms that were the epicenter of the meltdown, Fannie and Freddie were the ones that were save and allowed to be kept in business.
In a sane, educated, free society, Fannie and Freddie would have been liquidated, and Chris Dodd, Barney Frank, the entire US Federal Reserve and a host of others hauled off to Gitmo as financial traitors.
As the market melted down, key decisions were made to liquidate the Investment banks that competed with Goldman Sachs and Chase, who were kept afloat, while Bear Stearns, Lehman and Merrill Lynch were essentially liquidated.
Worse yet, the two firms that were the epicenter of the meltdown, Fannie and Freddie were the ones that were save and allowed to be kept in business.
In a sane, educated, free society, Fannie and Freddie would have been liquidated, and Chris Dodd, Barney Frank, the entire US Federal Reserve and a host of others hauled off to Gitmo as financial traitors.
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