With the anniversary of the collapse of Lehman Brothers, there has been a lot of talk about the current state of our financial system one year later. With Obama's talks on Wall Street, and Barney Frank still banging the drum for more regulation ... let us not forget two extremely important entities that got this bull rolling: Fannie Mae and Freddie Mac.
In fact, here is a little factoid that the mainstream media will probably not tell you. A report from the Government Accountability Office says that "privatizing the government-sponsored enterprises (GSE) Fannie Mae and Freddie Mac could mitigate the systemic economic risk caused by the federal government's guarantees to the now-defunct mortgage giants, but that the benefits of privatization could be reversed by government efforts to insure private-sector mortgages."
Oh no! Not privatize! Where's the government? How is the government to save people? How is the government going to make people more dependent if we privatize?