Interesting bit of history there I was not aware of although I do remember 70's fuel rationing when I was 16 years old! Could only buy 1/2 a tank of gas on odd or even days based on your license plate ending number.
What really befuddles me is why the government, and press harp on the enormity of the largest bailout going to the GSEs when
1. they did not need that amount to stay in business, in fact it could be argued they did not need to be bailed out. The size of the bailout was primarily designed to prop up the U.S. economy.
2. Over the 80 year history of Fannie Mae, and approximately 40 year history of Freddie Mac, they've certainly paid much more in taxes than the bailout, and will continue to pay taxes moving forward. In fact, Fannie Mae is officially qualified to begin paying taxes again right now.http://www.housingwire.com/articles/26045-fannie-mae-starts-paying-income-tax-again
3. So it's apparent that the GSEs have been the foundation of the U.S. economy for forty years, and some of the largest taxpayers to boot.
4. I remember getting some stimulus checks in the years past as a contributing taxpayer so it seems fitting that the GSEs are allowed a little stimulus with all they've contributed especially since they're now paying it back.
Regardless, The GSEs have paid their due as have the shareholders so there is no doubt that the Government owes the contributing shareholders their due on their contribution by returning their property, or justly compensating them for it. So I whole heartedly agree that there will be a collapse in the free market capital system bigger than the crises of 08 should the government welch on the guarantees provided by the constitution that ultimately supports the capital system of the U.S., and ultimately the free world.
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