Q. What do the following events have in common: (1) Fannie Mae and Freddie Mac meltdowns; (2) banking crisis; (3) TARP and TALF; (4) Chrysler fiasco; (5) GM fiasco; (6) housing bubble’s bust; and (7) the soon to occur FHA mortgage debacle?
A. Government involvement in creation of, or worsening of, the risk by meddling with the market.
‘Puter’s left out the myriad social ills caused by failed government policies, from entrenched poverty, to failed cities, to fatherlessness.