“Planning-induced housing bubbles not only threaten individual families and local economies,” the Antiplanner wrote in Best-Laid Plans, “they threaten the world economy.” Those threats are being realized today.
The federal government seized another big bank last week. Fannie Mae and Freddie Mac are on the verge of collapse and the fed is likely to announce a major bailout this week. More banks are expected to fail soon. “This is a very serious banking crisis,” says a former president of the American Bankers Association.
