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by CareyBot

Bradley Inman is flat out wrong in his Aug. 17, 2004, editorial about the "American Dream" and government policy. Where do I start? First, Fannie Mae and Freddie Mac are private corporations. Fannie Mae was created in 1937, not the 1960s, and while part of FDR's New Deal, didn't become profitable until the post-WWII creation of VA. Freddie Mac was signed into law in 1970 by a Republican president, Richard Nixon. They are shareholder-owned, private corporations and Fortune 500 companies to boot. Had the government run those organizations, we'd see the same failure as the war on poverty and welfare. The fact is that they are successful because they operate outside of government and for a profit. Second, the "mortgage interest deduction as government handout" theory is akin to saying that g...