Yes, that was Joe Kernen on CNBC this morning. This morning guests included Henry Paulson of Goldman Sachs and the Treasury Department and former Treasury Secretary John “Snow”–and everyone was saying that the take over of Fannie Mae and Freddie Mac wasn’t a great thing, but a necessary thing. Really? Necessary for our economic relationship with China? Not a word on that.
I’m beginning to think that CNBC stands for “See and Be Seen.”
This whole episode is a great case study that demonstrates the danger of public-private partnerships and “privatization.”