Freddie Mac, the big mortgage lending corporation which is owned by we the people, having bought it when we bailed it out, is behaving, shall we say, in a questionable manner, investing in mortgages in one of its two businesses, and betting against those same mortgages in its other business.
The CEO, Board of Directors, and public relations spokespeople all assure us that the two businesses are separated by an iron clad wall, do not collaborate, and therefore pose no conflict of interest.
Of late the two businesses seem to be astonishingly fortunate, accidently working in each other's best interests, almost conflict of interest like. Freddie reminds us that he is there not only to help Americans into houses, but to survive financially. (The need to support oneself can justify almost anything).
It could be argued, easily, that Freddie Mac, and corporations in general are beneficial to mankind. Conservatives are better at explaining things like that. Here, suffice to say, thast in nearly all our lives there are goods and services we want which only corporations can provide. Cars, TVs, computers, for example.
Worker exploitation? It all depends. Take General Electric, for instance, an ancient venerable company which over the years has supplied America with a host of helpful appliances. Most of the time GE has paid decent wages to unionized entry level workers.
Aside from the fact that it apparently doesn't pay any taxes, GE seems to be beneficial to humanity.
But shouldn't GE pay SOME taxes? And shouldn't mortgage lenders try to help, not hurt, its own customers? Cooperation for profit is a lot better than exploitation for profit.
Please scroll down to read the other articles in this issue of The Truthless Reconciler! Thanks!
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