Monday, October 20, 2008

Government distortion created the financial collapse

Good stuff read it all.

"The editorial board of the Washington Post corrects the record today at the expense of Democrats in Congress desperately spinning the financial crisis as a failure of deregulation. Practically alone among the national media, the Post firmly affixes blame to the social engineering of Congress that allowed Fannie Mae and Freddie Mac to create a Ponzi scheme with subprime loans for political gain:"

Those are EM's words over at HA to sum up WAPO (!)'s op/ed about The market that failed was not exactly free.