Wednesday, July 16, 2008

Just What We Needed -- An Aggressive, High-Risk Investment

What kind of idiot optimist ponies up the grocery money to buy Fannie Mae and Freddie Mac stock? Why, you and I do, of course. And if we don't think that's such a good idea, no problem ... we can just do it anyway. And like it. And smile. It seems that we have new managers for our portfolios: the chair-moisteners in DC.

Don't worry, though. I'm sure that even if it all goes wrong -- and it's hard to imagine anything going wrong with the prudent players in real-estate finance -- we'll all be taken care of, somehow. The taxpayers will bail us out!

Oh, yeah, wait, that's right ... sorry. Never mind.

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