Replacing Housing Risk With Dollar Risk, Updated

    As of Sunday night, the US government, speaking through Treasury Secretary Henry Paulson, has committed to guarantee the value of securities issued by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. That means that you, dear Taxpayer, are about to get into the housing business in a way you’ve probably never imagined and certainly didn’t choose. So it’s worth asking a few questions about | Read More »

    Government Bailouts: Enough!

    The highway death rate in this country is about 120 deaths per day; or roughly 44,000 annually. Those deaths are typically reported individually on page 8 of local newspapers, if at all. But when a commercial airplane crashes (about every two years) killing 120 people, it becomes headline news and is billed as a “horrific national tragedy” with an outpouring of sympathy and condolences from | Read More »

    Replacing Housing Risk With Dollar Risk

    As of Sunday night, the US government, speaking through Treasury Secretary Henry Paulson, has committed to guarantee the value of securities issued by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. That means that you, dear Taxpayer, are about to get into the housing business in a way you’ve probably never imagined and certainly didn’t choose. So it’s worth asking a few questions about | Read More »


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