{"id":21060,"date":"2016-06-18T09:59:36","date_gmt":"2016-06-18T14:59:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21060"},"modified":"2016-06-18T09:59:36","modified_gmt":"2016-06-18T14:59:36","slug":"a-palace-for-fannie-mae-why-the-imperial-city-must-be-sacked","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21060","title":{"rendered":"A Palace For Fannie (Mae)\u2014\u2013Why The Imperial City Must Be Sacked"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/a-palace-for-fannie-mae-why-the-imperial-city-must-be-sacked\/\">A Palace For Fannie (Mae)\u2014\u2013Why The Imperial City Must Be Sacked<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<div class=\"pf-content\">\n<p>To hear the establishment media tell it, you would think that Attila the Hun was fixing to sack the Imperial City. Would that Donald Trump were that bold or dangerous.<\/p>\n<p>Then again, he is a showman of no mean talents.\u00a0So if\u00a0there is a maquette of Fannie Mae\u2019s planned new $770 million headquarters somewhere around Washington DC, he could start the sacking right there.\u00a0Hopefully, he would\u00a0not hesitate to shatter it with a fusillade of tweets\u2014-or even take a jackhammer to it while wearing a Trump hard hat.<\/p>\n<p>Fannie Mae is surely a monument to crony capitalist corruption, and living proof that massive state intervention in credit markets is a recipe for disaster. But rather than shut it down after it helped bring the nation\u2019s financial system to the edge of ruin, the beltway pols have come up with an altogether different idea.<\/p>\n<p>To wit, they plan to move Fannie from her already luxurious\u00a0NW Washington\u00a0headquarters to this hideous\u00a0new glass palace to be built in the heart of Washington DC. Could there be a bigger insult to the 15 million families who lost their homes to foreclosure owing to the crash of the\u00a0giant housing bubble that Fannie Mae and the crony capitalist crooks who ran it helped perpetuate?<\/p>\n<p>And that\u2019s to say nothing of the $180 billion of taxpayer money that was pumped into Fannie Mae and the other GSE\u2019s after the house of cards came tumbling down in August 2008.\u00a0In fact, while\u00a0the politicians on Capitol Hill have dawdled for eight years without any statutory changes or mandates for even minor reforms, Fannie Mae\u2019s management and its phalanx of K-Street lobbies showed exactly who rules in the Imperial City.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Palace For Fannie (Mae)\u2014\u2013Why The Imperial City Must Be Sacked To hear the establishment media tell it, you would think that Attila the Hun was fixing to sack the Imperial City. Would that Donald Trump were that bold or dangerous. Then again, he is a showman of no mean talents.\u00a0So if\u00a0there is a maquette [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5979,2120,7487,406,14029,865],"class_list":["post-21060","post","type-post","status-publish","format-standard","hentry","category-economics","tag-contracorner","tag-david-stockman","tag-fannie-mae","tag-housing-bubble","tag-imperial-city","tag-washington"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21060"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21060\/revisions"}],"predecessor-version":[{"id":21061,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21060\/revisions\/21061"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}