Academic

ECONOMIC DIVISION: Federal Intervention Pits ?Gets? vs. ?Get-Nots?. ?What?s undeniable is that the?

By Glenn Reynolds

ECONOMIC DIVISION: Federal Intervention Pits ‘Gets’ vs. ‘Get-Nots’. “What’s undeniable is that the federal government has burrowed its way deep into the quotidian workings of American capitalism. Since the onset of the financial crisis nine months ago, the government has become the nation’s biggest mortgage lender, guaranteed nearly $3 trillion in money-market mutual-fund assets, commandeered and restructured two car companies, taken equity stakes in nearly 600 banks, lent more than $300 billion to blue-chip companies, supported the life-insurance industry and become a credit source for buyers of cars, tractors and even weapons for hunting.” And check out this graphic.

Full post as published by Instapundit.com on June 15, 2009 (boomark / email).