Larry Kudlow got this out of Barney Frank:
“I hope by next year we’ll have abolished Fannie and Freddie,” he said. Remarkable. And he went on to say that “it was a great mistake to push lower-income people into housing they couldn’t afford and couldn’t really handle once they had it.” He then added, “I had been too sanguine about Fannie and Freddie.”
If only we could get more leftists to realize that the policies they push in order to “help” the poor and underprivileged more often than not end up hurting everyone – especially the poor and underprivileged that the left claims to care about so much. In the meantime, let’s enjoy this moment of sunshine from one of the worst members of Congress who will no doubt try to walk this back at some point when it’s politically convenient.
Her definition of success is apparently very similar to everyone else’s definition of failure.
“This is the laboratory of the states right here,” she told NBC’s David Gregory. “And I can tell you what has worked. What has worked is the government smartly intervening to save the auto industry; smartly, strategically, surgically intervening to invest with the private sector to create, for example, the electric batteries for the vehicles; smartly intervening with the private sector to be able to do the breakthrough technologies that the private sector doesn’t have the funds to be able to do. That’s what other countries are doing. And we’ve got to realize that these economic models that just say, ‘We’ve got to cut, cut, cut, cut, cut,’ you know, who’s applauding most is China.”
I’m not sure how Granholm can claim credit for a federal initiative to save GM and Chrysler, and the reality is that Ford is doing reasonably well these days without having been bailed out by the government. And then there’s that battery plant in Holland to do the “breakthrough technologies that the private sector doesn’t have the funds to be able to do.” First of all, the government has no funds outside of what it leeches off the private sector. Secondly, if there was an actual demand for this “breakthrough technology,” you can bet that plenty of money will make its way to that product without the government’s help.
Granholm is as dumb as a stump, an empty skirt if there ever was one, and she’s lucky that she ran for governor in a state dominated by union politics against lackluster opposition, because that’s how she got elected. The day she leaves office is the day that Michigan has a chance to grow again, barring the election of Virg Bernero as Governor, who seems to think that he can somehow by executive fiat recreate the good old days when Michigan was the only game in town for auto manufacturing and high school graduates could walk down to the employment office at GM and get a high-paying assembly line job with a big fat pension when they retire at age 55. Ain’t gonna happen.
All that to say: what an idiot Granholm is.