Congratulations America

Its duties include enforcing federal finance laws

Its duties include enforcing federal finance laws

I wanted to say a few words about the Great Fannie/Freddie Debacle of 2008, which comes to a head today and tomorrow as our treasury department attempts to tamp out this raging inferno of fiduciary failure using American taxpayers.

Fortunately, Karl Denninger already said all that needs to be said regarding the two burning hulks of mortgage and what their bailout means for us.

Among Mr. Denningers gems is this: In any event, this is what happens when Americans sit in front of the Boob Tube and watch American Idol instead of paying attention to what their government is doing. We are now in the zone where mistakes can cause a government funding collapse.

There will undoubtedly be updates, but the record show that The Sagamore Journal took notice on a sad day for the Republic.