I heard a clip this morning where Obama said that car manufacturer warranties would be backed up by the Federal Government. Wasn’t this one of the reasons the mortgage crisis happened, because the Federal Government backed up Fannie and Freddie, thus giving carte blanche to unsound mortgage schemes? I need to dust off my copy of the Constitution. The Founders certainly were precient men, obviously foreseeing the need for the Government to enure that power trains were protected with the full faith and backing of the US Government.
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