Barney Frank, former chief booster of Fannie Mae and Freddie Mac, now conveniently says they should be disbanded.
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“I believe the remedy is abolishing Fannie Mae and Freddie Mac in their present form and coming up with a whole new system of housing finance,” Frank said.
Orthodox. Faithful. Free.
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Furthermore, he told Big Think that the poor should be encouraged to rent, not buy. That’s a good idea. Of course, he never acknowledges his own hand in the mortgage crisis. According to Frank, the house buy-up among long income Americans was the fault of Republicans who “killed the rental housing programs.”
[Hat tip: Daniel Indiviglio]
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Two years ago at a forum in Michigan, human irritant Michael Moore attacked state subsidies to local filmmakers:
“These are large multinational corporations — Viacom, GE, Rupert Murdoch — that own these studios,” said Moore at the Traverse City event. “Why do they need our money, from Michigan, from our taxpayers, when we’re already broke here? I mean, they play one state against another, and so they get all this free cash when they’re making billions already in profits. What’s the thinking behind that?”
That’s a great question, and possibly one Moore can now answer: Since his appearance at the forum, he has both applied for and been approved for that very same subsidy.
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