Should We Cheer The FHFA Lawsuit?

`` In reality, American taxpayers have always been on the hook for Fannie and Freddie. These government-sponsored-enterprises (GSEs) were products of the New Deal and Great Society and always enjoyed favor with the federal government. They always had the implicit promise of a bailout if anything went wrong. This is like giving a hot-shot rookie a guaranteed lifetime multi-million dollar contract, and then, after the rookie fails to live up to expectations, suing the drug dealers and groupies for "ruining his career." Any General Manager of a football team that made a habit of throwing money at players with no accountability to performance would be fired quickly, but, in Washington, they are rewarded.''