Here's some inspiring comments from Senator Christopher Dodd (D-CT) on Fannie Mae and Freddie Mac, the toasted special government agencies, which hold nearly 80% of the US junk mortgages (see Barron's March 10, 2008 issue):
"What's important here are facts," Dodd said. "And the facts are that Fannie and Freddie are in sound situation. They have more than adequate capital -- in fact, more than the law requires. They have access to capital markets. They're in good shape. The chairman of the Federal Reserve has said as much. The secretary of the Treasury as said as much." (BusinessWeek Online, July 13, 2008)
Doesn't he sound very much like Mohammed Said al-Sahhaf, the former Saddam Hussein's minister of information, who made enormous fame by saying
"There is no presence of American infidels in the city of Baghdad",
as US tanks were rolling into the city (April 9, 2003)?
We think so
Sunday, July 13, 2008
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