Perché Bush è meglio di Tremonti
Lo so che non va di moda citare George W. Bush. Nemmeno tra i repubblicani americani. Figuriamoci tra noialtri conservatorotti italiani. Però, quando il presidente americano uscente dice che
History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market. We saw this in the case of Fannie Mae and Freddie Mac.dice la sacrosanta verità. Sia nella diagnosi, sia nella terapia. Qui il testo integrale del suo discorso.
Because these firms were chartered by the U.S. Congress, many believed they were backed by the full faith and credit of the U. S. government. Investors put huge amounts of money into Fannie and Freddie, which they used to build up irresponsibly large portfolios of mortgage-backed securities. When the housing market declined, these securities, of course, plummeted in value. It took a taxpayer-funded rescue to keep Fannie and Freddie from collapsing in a way that would have devastated the global financial system. There is a clear lesson: Our aim should not be more government -- it should be smarter government.