Weekly Column
09/15/08 -- Bail Out
A host on one of the leading late night television shows recently joked that “we’re going to have a great show tonight, but if isn’t, the federal government will bail us out!”
There’s nothing more unfortunate than truth behind a bad joke.
These days it seems the federal government would rather bail out slowing industries with billions of taxpayer dollars instead of allowing the free market system to work.
Over the summer, Congress approved a housing bill, which I voted against, that granted the Treasury Department the authority to take control of Fannie Mae and Freddie Mac – the nation’s two largest government-sponsored enterprises (GSEs).
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