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Author: GrampaJayBee One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: Re: The Paulson Plan Date: 9/25/2008 1:40 PM
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How in the world does government using tax dollars to purchase equity in private companies promote "free markets." Sounds like a giant step toward socialism to me.

We got into this mess because Fannie and Freddie curried congressional favor to avoid the real reform threatened by the 2005 bill. The price they paid was to encourage subprime and A-minus loaning at the encouragement of Barney Frank and friends under the feel good term of "affordable housing."

Imagine the mischief that such politicians could render with a large equity stake.

No, Tom, you are not promoting free markets when you give the government a seat at the board of directors table. You are promoting government ownership of private enterprises = socialism.

JMHO

Gramps.
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