The slaughter of Fannie Mae and Freddie Mac continues in the stock market, and President George W. Bush is going exactly the wrong way with his response.
At a press conference, the President began implying a willingness to step in and support Fannie & Freddie instead of allowing the problems to work themselves out naturally.
Bad move, Bush. It’s like financing a house of cards with a subprime mortgage. In the end, the free market solves problems better than government interference ever could.