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U.S. PIRG Consumer Blog
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July 29, 2008
Bailing out Fannie and Freddie's "dumb stockholders"
Check out economist Dean Baker's blog entry Why Is the Government Guaranteeing Fannie and Freddie's Stock Price? from a few days ago: There is a clear rationale for making good on Fannie and Freddie's bonds. [...] But what interest does the public have in protecting the share prices of Fannie and Freddie stock? [...] In a country that can't fight a few billion dollars to provide funding for child care or children's health care, this multi-billion dollar affirmative action plan for dumb stockholders deserves a little questioning. I think he meant "find" not "fight," but it's a great piece.
Posted by Ed Mierzwinski at July 29, 2008 09:12 AM
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