The federal government will soon announce the bailout of Fannie Mae and Freddie Mac. (See also the Financial Times report.) Our leaders are moving to protect the wealthy titans of business upon whose decisions we depend for our own livelihoods. Will they keep the business in the US? Will they transfer their own holdings into foreign currencies? Will they curtail their own drive for immediate gain to allow us to keep out homes? And on.
I'm working on a longer essay to be called "Patterns of Force". The first section will be up soon: American Virtues.
Sunday, September 7, 2008
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