Shuttering Fannie and Freddie Beats Making Taxpayers Shutter

By Chad Hovind

For years, banks have been spared the consequences of making bad decisions and bad loans because Fannie and Freddie have been the proverbial government pillow keeping them from feeling the pain of making risky loans.  When the loans go bad, instead of facing the music, they ask the government to take from the taxpayers and "bail them out."  Simply put, the pain of the bank's head-banging is passed on to the taxpayers.  Do banks learn the lesson?  Not if they don't feel the pain. Obama is championing a bipartisan effort to shutter Fannie and Freddie.  For years, politicians have known that they have enabled bad behavior and have been left holding the bag.  Now, at least a few politicians are trying to get us on the trajectory of moving toward privatization. [more...]