Notable QUOTES for the TIMES & Bill O'Reilly

And BEYOND:  "Because of their quasi-government status there is a perception that Fannie Mae and Freddie Mac mortgage backed securities and debt, carry an explicit Federal guarantee against default. Hence, the GSE's expose the Federal tax-payer to an ever-increasing potential contingent liability that could ultimately cost tens of billions to rectify."
Vern McKinley - Cato Institute - 1997

 When I read quotes like this it drives me crazy on some level.  I think of the babble of Bill O'Reilly and constant complaints about how nobody knew about the dire condition of the financial system. Even his own financial advisors did not know. Nobody, not even the President told him. Everybody trusted Barney Frank and thought the world was beautiful, the birds were still singing.

Well, not exactly. Even I got of REITS almost two years ago. The President did not call me either. I think this is another example of someone in the media creating an issue, then arguing for or against the issue they themselves created. Not un-like the issue created by the media about auto execs flying private jets. A non-issue, the news media talked about for weeks. A controversy that  was created from whole cloth. Note: The Cato Institute was not alone in predicting the future based on facts. It is always pretty easy to predict the future when you start with well known facts. And, not to be too mis-leading Mr. O,  has and does make some good points...this is just not one of them!

Commentary by Lightfoot - Published: Liberty Views - Additional information regarding The Cato Institute under Links

Source: The O'Reilly Factor, Cato's Letters

cc: Bill O'Reilly