Home Invasion

A jumpin' up, fallin' down,
Don't misunderstand me.
You don't think that I know your plan,
What you try'n to hand me?
--James Gang

Insightful personal account by WSJ's Paul Gigot on the historical heavy handedness dished out by political and business friends of Fannie Mae (FNM). Mr Gigot concludes:

"The abiding lesson here is what happens when you combine private profit with government power. You create political monsters that are protected both by journalists on the left and pseudo-capitalists on Wall Street, by liberal Democrats and country-club Republicans. Even now, after all of their dishonesty and failure, Fannie and Freddie could emerge from this taxpayer rescue more powerful than ever."

Although this is a riveting life-is-stranger-than-fiction tale (that continues to unfold), because of its powerful backing, it seems doubtful that the movie version of The Fannie Mae Gang will appear anytime soon.

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