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POPSThe sleazy advocacy of a leading "liberal hawk" What Galbraith kept completely concealed all these years was that a company he formed in 2004 came to acquire a large stake in a Kurdish oil field whereby, as the NYT put it, he "stands to earn perhaps a hundred million or more dollars." In other words, he had a direct -- and vast -- financial stake in the very policies which he was publicly advocating in The New York Times, The Washington Post, and countless other American media outlets, where he was presented as an independent expert on the region. As Cobban wrote: Galbraith has never expressed any such regrets, and last November, he was openly scornful of Bush's late-term agreement to withdraw from Iraq completely. The revelation that for many years Galbraith had a quite undisclosed financial interest in the political breakup of Iraq may now further reduce the clout, and the ranks, of the remaining liberal hawks.
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POPSFannie & Freddie NOT included in Obama's Financial Regulations In analyzing the mortgage crisis, economist Walter E. Williams has written: “Starting with the Community Reinvestment Act of 1977, that was given more teeth during the Clinton administration, Congress started intimidating banks and other financial institutions into making loans, so-called sub-prime loans, to high-risk homebuyers and businesses. “The carrot offered was that these high-risk loans would be purchased by the government-sponsored enterprises Fannie Mae and Freddie Mac. Anyone with an ounce of brains would have known that this was a prescription for disaster but there was a congressional chorus of denial,” he added. “The financial collapse of Fannie Mae and Freddie Mac is not a failure of the free market because lending institutions in a free market would not have taken on the high-risk loans,” said Williams. “They were forced to by the heavy hand of government.”
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