You and I Don't Get a Government Guarantee

The late George Carlin used to have a funny bit about words that don't go together.

Jumbo shrimp.

Holy war.

Resident alien.

Business ethics.

And my favorite… non-dairy creamer.

Sometimes certain words don't mesh.

Like quasi-government agency.

If you asked me, and you didn't but I'll tell you anyway, I had issues with mortgage lenders Freddie Mac and Fannie Mae from the very beginning.


Because they were quasi-government agencies.

Part government.

Part private.

All confusing.

It's sort of like these crossover vehicles.

Part SUV, part car.

All nuts.

Either you're an SUV, or you're a car.

Which is it?!

The problem with trying to be all things to all people is you only end up confusing all people.

They can't figure out what you are.

You're a private entity, so you can make money.

Or you're a public entity, so you can't fail.

Turns out you can't make money. And you can very much fail.


You're not alone.

Even the folks who created this mish-mash couldn't describe this mish-mash.


Because it's a mish-mash. Because it's trying to be all things to all people.

And in the end, because it tried to have its bureaucratic cake and eat it too, happily living in the free market world but with the full faith and backing of Uncle Sam afforded no one in the free market world.

Few firms can count on Uncle Sam to bail them out.

But then again few firms have Uncle Sam as a blood relative… firms that happily dismissed their private disasters when they needed a very public rescue.

You and I are not afforded such protections.

But then again we're not 50 percent government.

We just 100 percent pay for it.

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Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.