Quote:
Originally Posted by ajmccarrell
Fannie Mae/Freddie Mac were caused by a half-assed hybrid fascist idea of a government run corporation. If it had gone to either total government control or total privatization it wouldn't be in this mess. What happens when you combine private enterprise with government regulation is a lack of oversight and people following directives to the detriment of the solvency of the company. You have a complete imbalance of both the supply and demand curves. The demand curve doesn't change, so the supply curve tends to take advantage of the neverending demand. Hence social security fraud that goes undetected for years and bad loans being lent with huge bonuses for people. It's my basic argument against nationalized health care. You'd end up with drug companies and suppliers ripping off the federal government much worse than they do the public. With the public, they can only get away with so much because our funds are limited and the elasticity of demand is low. With the government, the elasticity of demand is zero, so the companies can charge whatever they want to, like $2,000.00 for a metal cane that costs $5.00 to make.
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Okay. Now bridge that to your point about being further to the right than W and I think we're finally getting somewhere.