In These Times

In retrospect FDR's programs led to financial ruin. Four years after FDR was elected the unemployment rate was above 20%. That would never be tolerated today. When government interferes with the free market, bad things happen. Let's take Fannie Mae and Freddie Mac as one example. Despite protestations from John McCain, other Republicans and the press (WSJ) to reform those companies, the Democratic led congress took no action. Probably because Fannie and Freddie were funding so many Democrats. McCain offered a bill directly aimed at Freddie and Fannie in 2005. It wasn't allowed to come to a vote. When these companies …

Posted to Back for the Future