Wednesday, July 23, 2008

Paul Krugman's Millionaires

The recent news about Fannie Mae and Freddie Mac make clear that the government creates millionaires out of special interests who suck wealth from the poor and middle classes.

Paul Gigot, editorial page editor of the Wall Street Journal, has taken apart defenses of these corrupt government agencies:

The Fannie Mae Gang

This is really troubling reading.

Pro-government economist Paul Krugman, writing regularly in the New York Times, consistently goes to bat for the government as a champion of the poor.

Gigot writes, "Fannie's left-wing defenders are underwriters of crony capitalism, not affordable housing."

Notice that when any brash young politician attempts to expose government corruption -- corruption greater than Enron's -- established political leaders revoke their power and destroy their careers.

"Government" is the business of protecting corruption.

It's called "fascism" when "the right" does it, but the same activity is called "socialism" or "progressivism" when "the left" does it. When the Board of a corrupt government enterprise is populated by both Republicans and Democrats, that form of corruption is called "bipartisanship," and no matter what party the calls for investigation or criticisms of corruption come from, they will be ignored or slandered.

The only thing worse than the lies, corruption, theft, and personal aggrandizement exhibited in the Fannie Mae/Freddie Mac racket is the complete apathy and ignorance of the American people, aided and abetted by the lapdog media.

HT: Club for Growth

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