In today’s Wall Street Journal, Alex Pollock has this excellent piece in which he ponders how Andrew Jackson would have dealt with Fannie and Freddie. His answer: Jackson would have axed them, just as he did the Second Bank of the United States.
The parallels Pollock brings up are just delightful, if rather “inconvenient” for politicians in the party that claims Jackson as one of its founders. That’s especially so in view of the complete absence of anything in the “financial reform” bill just passed that will do anything to stop the waste of taxpayer money on these ravenous political pets.
We don’t need to “reform” Fannie and Freddie. We need to cut off the flow of taxpayer money.
