Broadside Blog

The Big Lie

It was being said over and over that Freddie Mac and Fannie Mae were not in any danger of having government involvement in their recovery due to bad decisions in the sub-prime mess. I guess you can take that off your wish list and move it to the Big Lie list. There will be what will amount to a government takeover of both lending agencies.

Now as I have given everyone warning there is NOTHING in the Constitution of the United States of America that I can find that allows this kind of federal action. I guess if you want to stretch it beyond belief you could use Article I, section 8 but that would be a stretch. Of course you can always fall back on the bullshit that many use by the phrase in the preamble "promote the general welfare". I must admit that the local, state and federal governments have done a fine job promoting the general welfare. In fact one could say IT'S REDISTRIBUTING INCOME.

You think?

posted by Jay @ 5:43 AM