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Arda akinci Premium Member Group moderator
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Farewell to Fannie and Freddie
America’s Treasury Department issued a report in which it proposed the eventual elimination of Fannie Mae and Freddie Mac and laid out options for reducing the role of government in mortgage financing. The report admitted that Fannie and Freddie had “strayed” from their core business of promoting sustainable home ownership when they extended credit to riskier borrowers. The Treasury now foresees government’s role in housing limited to “robust oversight”, consumer protection and targeted assistance for poor households; it wants the private sector to “bear the burden of losses” in the sector. (Taken from The Economist)
- 19 Feb 2011, 12:41 pm
Arda akinci wrote: > America’s Treasury Department issued a report in which it proposed > the eventual elimination of Fannie Mae and Freddie Mac and laid out > options for reducing the role of government in mortgage financing. > The report admitted that Fannie and Freddie had “strayed” from their > core business of promoting sustainable home ownership when they > extended credit to riskier borrowers. The Treasury now foresees > government’s role in housing limited to “robust oversight”, consumer > protection and targeted assistance for poor households; it wants the > private sector to “bear the burden of losses” in the sector. (Taken > from The Economist)