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Another Bad Idea: Fannie and Freddie as Utilities In the more than twelve years since their 2008 failure, nobody has been able to figure out how to end Fannie Mae and Freddie Mac being wards of the state, as their continued existence is wholly dependent on the generosity of the taxpayer by way of the U.S. Treasury’s credit.  Many proposals, legislative and otherwise, for restructuring or replacing these behemoths have come and gone. Now, arguments are increasingly being made to retread these government sponsored enterprises (GSEs) as privately owned, public utilities.  While this idea has its promoters, we believe it is fundamentally a bad idea.  How the Government Mortgage Complex does love to propose rent-seeking solutions that operate with the largest possible government guarantee.

Freddie macEric steinBob ryanRichard coopersteinLewis ranieriSusan wachterDon laytonMichael calhounTreasury departmentHarvard joint centerNational association of realtorsFannie maeHousing finance agencyGovernment mortgage complexResponsible lendingNational association