Finally! A businessman gets it: PPPs make no business sense.His mouth is most sweet,
Yes, he is altogether lovely.
—Song of Solomon
* * * * *
You will have to get over the poor audio quality of Bill Gross' statement before the Housing Summit held today at the U.S. Treasury. Consider it a reflection of the state of our government whose infrastructure needs likewise have been chiseled by a casino economy.
A Government National Mortgage Association replacing Fannie and Freddie is brilliant policy for the very reasons Bill Gross cites: there is no beating the most favorable administrative costs such an arrangement affords.
Too bad this message will fall on deaf ears at the White House, sponsors of the most expensive possible health care "reform" ... as well as having brought in straight from Mussolini Italy those "Build America Bonds" subsidizing the very gamblers who pillaged the GSEs!
—Tom Chechatka
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