One third of the $15 trillion of mortgages in existence in 2008 are owned, or securitized by Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing and the Veterans Administration. Wall Street buyers of repackaged loans didn't mind buying risky paper because they assumed that they would be guaranteed by the federal government: read bailout from the taxpayers. Today's housing mess can be laid directly at the feet of Congress and the White House.
School choice opponents are also dishonest when they speak of saving public schools. A Heritage Foundation survey found that 47 percent of House members and 51 percent of senators with school-age children enrolled them in private schools in 2001. Public school teachers enroll their children in private schools to a much greater extent than the general public, in some cities close to 50 percent.
If you hate my guts and have designs to hurt me, and I see you building a cannon aimed at my house, I am not going to wait for you to finish construction.
Most of our country's serious problems can be laid at the feet of Congress and the White House and not at capitalism.
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