“Fannie Mae and its sister company, Freddie Mac, which was also seized last year, face several conflicting demands under government stewardship. They still must try to maximize profits to pay back taxpayers. But they also play key roles in carrying out the Obama administration’s housing policy, which involves fighting foreclosures and reducing the costs of obtaining a home loan. These measures may benefit the nation’s housing market, but aren’t necessarily helpful for the companies’ profitability.” (Washington Post, Tuesday)
Nothing’s been learned.
FEE Timely Classic
“Nationalization of the Mortgage Market” by Robert P. Murphy