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...Michael Grunwald's piece on how Washington failed us: I'm neither Republican nor Democrat, and I am disgusted with both [Oct. 13]. Both presidential candidates want to blame Wall Street, and there is surely some merit to that. But the heart of the problem rests with Freddie Mac and Fannie Mae, two quasi-government corporations. Despite several attempts by legislators to call attention to the impending crisis, others preached the soundness of these institutions. This is not a failure of the free-market system; it is the failure of big government and its manipulations. Jim Vance, Birmingham...
...were hurting: if companies couldn't get credit from the banks, they couldn't make their payrolls and would have to start laying people off. McCain, by contrast, demonstrated why it's so hard for Senators to succeed as presidential candidates: he talked about Fannie Mae and Freddie Mac and the sins of Obama, and never brought the argument home...
...happened when your publisher calls. Usually it's the author who calls and says, "Did you see? My book went from 643 to 627, think we should order more copies?" I looked, and the book was at Number 14. Later it went up to 7. And then came the Mac-PC ads, and I was torn immediately from a very happy, satisfied, mature career as a freelance magazine writer and author of books of fake trivia. The Daily Show was a real turning point in my life...
...Michael Grunwald's piece on how Washington failed us: I'm neither Republican nor Democrat, and I am disgusted with both [Oct. 13]. Both presidential candidates want to blame Wall Street, and there is surely some merit to that. But the heart of the problem rests with Freddie Mac and Fannie Mae, two quasi-government corporations. Despite several attempts by legislators to call attention to the impending crisis, lawmakers like Senator Christopher Dodd - the No. 1 recipient of campaign contributions from Fannie and Freddie - preached the soundness of these institutions. This is not a failure of the free-market system...
...Last month, when the government took control of mortgage giants Fannie Mae and Freddie Mac and pledged to inject $200 billion in capital into the home loan guarantors, administration officials said the moves would make it easier and cheaper for people to get home loans. Unfortunately, it hasn't worked that way. Mortgage rates fell sharply after the move, but soon reversed quickly, and are now higher than they were before the Fannie/Freddie rescue plan was launched...