The late George Carlin used to have a funny bit about words that don't go together.
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.
It's sort of like these crossover vehicles.
Part SUV, part car.
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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