Today's (September 9) editorial in The New York Times, titled "The Bailout's Big Lessons" claims that one of the reasons the government had to act to take control of Fannie and Freddie was that "investors deemed the government's commitment to Fannie and Freddie as either insufficient or not credible." The Times' editorial team then goes on to point to the Administration's "fiscal mismanagement" as the cause of this lack of trust.
While, I understand that the purpose of the editorial page...
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