The Federal Government Is Now the World’s Largest Housing Company

[swag]

http://firedoglake.com/2008/09/16/the-federal-government-is-now-the-worlds-largest-housing-company/

Socialists could never have done to the market what the free marketers have. The socialization they never wanted done, they're now down on their knees begging for. "Buy us. Please buy us. Save us from ourselves".

As the news that AIG has sold 79.9% itself to the Federal government for 85 billion dollars, Scarecrow wrote to me:

Seriously, this is staggering. The US government is about topurchase and operate as a government entity the world's largest insurance company for $85 billion.

So the US now owns/operates the entities that purchases home mortgages from banks/S&Ls (and owns $5 trillion of that) and the largest entity that insures the transactions that repackages and resells those mortgages.


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