Early in September, The Barry is set to go on national television to roll out, finally, his set of proposals to create American jobs ... one of which is expected to be an infrastructure bank (see: Reuters Story). Wow! What a bad idea! Have we learned nothing from the sub-prime mortgage meltdown and the role that the quasi-governmental banks, Fannie Mae and Freddie Mac, played in this debacle?
Mort Zuckerman, owner of the New York Daily News, a few years ago called these federal re-mortgaging banks "Democrat honeypots" (see: Honeypots) and I suspect that this infrastructure bank would be destined to be a carbon copy of Fannie and Freddie ... populated with Democrat political hacks who will fatten their bank accounts at the taxpayers's expense (see: Fannie Mae Piggy Bank). Fannie and Freddie so far have cost the taxpayers hundreds of billions of dollars (see Cost to Taxpayers). How big a rat hole would this infrastructure bank be?
Bad, bad, bad idea!!!
Tell that to Winnie-the-Pooh.
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