TV News LIES

Monday, Sep 26th

Last update05:20:13 AM GMT

You are here News Politics Mortgage crisis has Washington putting aside free-market ideology

Mortgage crisis has Washington putting aside free-market ideology

E-mail Print PDF

Despite decades of free-market rhetoric from Republican and Democratic lawmakers, Washington has a long history of providing financial help to the private sector when the economic or political risk of a corporate collapse appeared too high.

The effort to save Fannie Mae and Freddie Mac is only the latest in a series of financial maneuvers by the government that stretch back to the rescue of the military contractor Lockheed Aircraft and the Penn Central Railroad under President Richard Nixon, the shoring up of Chrysler in the waning days of the Carter administration and the salvage of the U.S. savings and loan system in the late 1980s.

Now, with the U.S. government preparing to save Fannie and Freddie only six months after the Federal Reserve Board orchestrated the rescue of Bear Stearns, it appears that the mortgage crisis has forced the government to once again shove ideology aside and get into the bailout business.

More...


Most Recent Related Stories...


Trump campaign police advocate fired from airline job after criminal charge

Trump police advocate firedDonald Trump’s campaign chairman for police supporters in a key swing state, who was also a...

Appeals court rules Ohio voter purge illegal

Appeals court rules Ohio voter purge illegalIn a 2-1 decision, the appeals court reversed the lower court's ruling, sending the case back...

Donald Trump’s Week of Misrepresentations, Exaggerations and Half-Truths

Donald TrumpAs August ended, a new Donald Trump emerged. Coached by his third campaign management team, he...

'New York Times' endorses Hillary Clinton

NYT endorses HillaryThe editorial board of the New York Times endorsed Hillary Clinton for president Saturday and expressly...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!