I am sure at least a few of my regular readers might be wondering WHY I have not yet done a posting about the report just out on the future of Fannie Mae and Freddie Mac. ( and the mortgage market ) The reason is that I knew my dear friend Bethany McClean, author of THE BOOK on the subject called “All the Devils are Here ” would most certainly be called upon for comment. She was, and her brilliant response appears on SLATE .com ( click here) A number of options were presented and none of them are too practical. The combined entities who dominate the multi-trillion dollar market have so far cost the taxpayers $130 billion dollars. Two monsters were created and we will continue to leave with their remains for some time.
I have done numerous posts on these two entities and if you would like to read any of them please go to my web-site and search Fannie.