Current Affairs

"Fannie, Freddie and the Secrets of a Bailout With No Exit"

Revealed: more lies from guess who. (Story is by Gretchen Morgenson in the New York Times.)

When Washington took over the beleaguered mortgage giants Fannie Mae and Freddie Mac during the collapse of the housing market and the financial crisis of 2008, it was with the implicit promise that they would be returned to shareholders after being nursed back to health.

But now, with the unsealing of documents this week that were produced as part of a lawsuit filed against the government, new evidence is coming to light on how intimately the White House was involved in the Treasury’s decision in August 2012 to keep all the companies’ profits for the government. That move effectively maintained Fannie’s and Freddie’s status as wards of the state.


Truth leaks into the New York Times

I blame the editors. Somebody is allowing pieces to mention things contrary to the Approved Narrative.

Example #1:

She [Tara Houska, a tribal lawyer and a member of the Couchiching First Nation in Canada] also said that those who clung to family lore — of, say, being part Cherokee on their mother’s side — had experiences profoundly different from those who actually lived the Native American life, whether on or off a reservation.

Do my eyes deceive me or this a little dig at Elizabeth Warren?

Example #2:

. . . Ms. Zeisler fears, is that the revolution has become privatized: In her view, feminists today are all about the right to make individual choices — any choices, choices that may be wholly estranged from the original objectives of feminism, which once meant collective action to change whole systems.

Really? Really? Feminism wasn't about empowering women to make their own choices? You could have fooled me.


"The New Old Economics of Trade"

A terrific--especially for a journalist (although the author does have a degree from the LSE)--article on recent commentaries questioning the value of free trade

But the prevailing mood of expert disenchantment with free trade is still disappointing. It misconstrues important new research, directs attention to the wrong questions, and supports the adoption of bad policies. It does the country a grave disservice.


"The Many Ages of Adulthood in the Nanny State"

This is so true.

Liberals have blurred the lines much further. Girls of any age can elect to have an abortion in California, but they can’t get a tattoo without parental consent until they are 18. Liberals construct fancy arguments to justify the differences, but we know that they are using age as a pretext to trample on the rights of free adults to do things they do not like. If you fit their politics, they want to expand your franchise. If you do not, they feel free to tell you what you cannot do. Next stop: You have to be 21 to buy a gun to protect yourself.