I remember back in the day all those haters of socialism said that if it was to come to the US then all the economy would be in the hands of the government.  Remember those days?  Well, dipsticks, what do you think the bailout of Fannie and Freddie are?  Do not hurt yourself–it is a form of nationalization, something that you say the commies want to bring.  Let us begin with my favorite couple–Fannie and Freddie, poster children of corporate greed.

The Financial Times has hailed the effective takeover of Fannie Mae and Freddie Mac by the US government as “what could become the world’s biggest ever financial bail-out.” Treasury secretary Henry Paulson has promised he will pump in ‘unlimited liquidity.’ Don’t you wish the government would grant you unlimited liquidity? When it comes to the food and fuel bills of the poor and the working class, the British and American governments find that the cupboard is bare. But now it’s not bare. Predictably markets all over the world have breathed a sigh of relief. Fannie and Freddie have effectively been nationalised – and big business thoroughly approves!

In the Financial Times (08.09.08), Clive Crook comments, in an article significantly entitled ‘Nationalisation in all but name,’ “The eventual cost to taxpayers is unknown. If the housing market rallies before long, it could be in the low tens of billions of dollars. If things keep getting worse, it could be in the hundreds of billions. But Fannie and Freddie have made themselves indispensable to any housing market recovery: the cost, whatever it is, will have to be paid.”

Like it or not….my favorite couple has been nationalized.  The best part about it is that it is being done by Republicans, who for years have seen hidden commies everywhere.