In the narrative that has governed American commercial life for the last quarter-century, saving companies from their own mistakes was not supposed to be part of the government's job description....
So it made for a strange spectacle last weekend as the current Bush administration, which does cast itself in the Reagan mold, hastily prepared a bailout package to offer the government-sponsored mortgage companies, Fannie Mae and Freddie Mac. The reasoning behind this rescue ... The mortgage giants were too big to be allowed to fail...
From Calculated Risk:
Here is another cartoon from Eric G. Lewis, a freelance cartoonist living in Orange County, CA (used with permission).
Eric drew this cartoon in 2007, when many people in south Orange County, CA were stunned that prices could fall in their areas."
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