Government CAN move fast.. when it wants to.

Posted by Keith Wed, 19 Mar 2008 15:51:00 GMT

I’ve just read about the $200Bn Fannie Mae and Freddy Mac are being allowed to play with and have realized something that surprises me greatly.

“We the people” often think that things are the way they are because government is this monolithic supertanker of an entity that lacks agility, changes slowly, and almost requires an act of congress to get something done.. no wait - bad analogy - or should I say “touche” as we are talking about the Bush administration.

But here we are, on Wednesday and already:

The FED have made billions available to Investment Houses like they would to banks
Interest rates have been cut.. again
The FED managed to overnight make an agreement to secure $30Bn of Bear Stearn’s assets to massage the buyout by JP Morgan

Look at the MAGNITUDE of the decisions made here.. in FOUR DAYS! Why can’t the government move this quick around situations when they aren’t getting their asses handed to them?