After the Bailouts, Washington’s the Boss – WSJ.com

Alex, I’ll take Government Interventionism for $40.

Today the U.S. government, directly or indirectly, underwrites nine of every 10 new residential mortgages, nearly twice the percentage before the crisis. Just last week, the Treasury said it would cover an unlimited amount of losses at mortgage giants Fannie Mae and Freddie Mac through 2012.

What is the definition of insanity?

Correct!

via After the Bailouts, Washington’s the Boss – WSJ.com.

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