The Nationalization of Fannie Mae and Freddie Mac

The New York Times is presently reporting that Fannie Mae and Freddie Mac are going to be nationalized.  The mortgage giants purchase home mortgages roughly 50% of all home mortgages, and 80% of all new mortgages have been purchased by them due to the fact that the truly "private" mortgage companies are running for the hills in the midst of this true crisis.

Franklin Delano Roosevelt created these "companies" in 1938, but as federal agencies, as part of a way to spur economic development; the companies were wildly successful and contributed to the homeownership boom of the 1950s.  LBJ privatized them in 1968.

However, now the New York TImes is reporting that they will be nationalized again, although they politely refer to the plans as a "rescue." However, the federal government will "assume control" of the pair.  I think we can safely call that what it is - nationalization.

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The Palin Numbers Game

Folks, I don't care what kind of bounce she gets.  She could get a bounce like a superball or like a cannonball, and I'd shrug and move on with my life.  Numbers change frequently in a political campaign, and we all know how good of a campaigner Barack Obama is, not to mention how strong of a leader he is and how dedicated his volunteers are.  But there's all sorts of other numbers I think people should be talking about.

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McCain gives Democrats a Slingshot

People right now are worried about Palin, saying that she may be a "game changer" for McCain.

Of a certain sense, they're right - McCain changed the game such that he's now on defense just as Obama moved the ball down the court last night in spectacular fashion.  Follow below the flip for some of the great things there are to be said about Sarah Palin.

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Diaries

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