സബ്‌പ്രം: ഫാന്നി & ഫ്രെഡ്ഡി

മുങ്ങിത്താഴ്ന്നു കൊണ്ടിരുന്ന Bear Stern-നെ കൈപിടിച്ചുയര്‍ത്തിയതിനു പിന്നാലെ, യു. എസ്. ഗവണ്മെന്റ് ഫന്നിയെയും ഫ്രെഡ്ഡിയെയും രക്ഷപെടുത്താനുള്ള തീവ്രശ്രമത്തിലാണ്! തുറന്ന വിപണിയെന്നൊക്കെ ഒരു സ്റ്റൈലിനു പറയുമെങ്കിലും, പണക്കാരനുള്ള സോഷ്യലിസമാണ് നടപ്പിലാക്കപ്പെടുന്നതെന്ന് അടുത്തകാലത്തുണ്ടായ സംഭവവികാസങ്ങള്‍ കാണിച്ചു തരുന്നത്.

But there is no reason that Congress cannot put serious conditions on the bailout. These two firms are facing bankruptcy because of the incompetence of their management, which in turn helped fuel the housing bubble.

If the top management at Fannie and Freddie had recognised the bubble (yes, this is their job) and stopped purchasing loans that were used to buy houses at bubble-inflated prices, it would have likely prevented the housing bubble from growing to such dangerous proportions. It also would have prevented Fannie and Freddie from holding or guaranteeing hundreds of billions of dollars of bad mortgage debt.

In a free-market economy, people who mess up on their job are supposed to be fired. While that may be the case for custodians and dishwashers, there are different rules for managers at banks who earn six-figure, seven-figure and even eight-figure salaries. These folks just run to the Fed and Treasury and get taxpayer dollars to keep their companies in business and their salaries in tack.

കൂടുതല്‍ ഇവിടെ വായിക്കുക: Paying for Fannie and Freddie's mistakes