WEBSTER'S online definition of Socialism:
Main Entry: so·cial·ism
Pronunciation: \ˈsō-shə-ˌli-zəm\
Function: noun
Date: 1837
1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
Is the nationalization of the mortgage industry socialist? Miraja says NO.
But read the bolded. The govt is controlling, regulating, profiting and losing money on the price and availabilty of mortgages. Is that not socialist in nature? Fannie Mae and Freddie Mac were privately owned agencies. In the blink of an eye, the govt took them over and is running them with PUBLIC FUNDS. HOW IS THIS NOT SOCIALISM?
|