This is unbelievable! The Federal Reserve sent a letter to Congress recommending that Fannie Mae and Freddie Mac be given even more power over the mortgage market. If this isn’t the definition of insanity I don’t know what is.
The Fed, in a paper sent to Congress yesterday, outlined an array of steps that could be taken to help the US housing sector, including allowing Fannie and Freddie to provide cheaper mortgages to a broader pool of homeowners.
The two companies, the biggest sources of mortgage funding, were seized by the government in 2008 when they were on the brink of collapse. They have been propped up by $169 billion in taxpayer aid since then, making them a target of ire of Republican lawmakers. (Read More)
Via Fox Nation
Tags: fannie mae, Fedaral Reserve, freddie mac
[...] defended the Federal Reserve from attacks from both sides of the political aisle. That was until the Fed called for giving Fannie and Freddie more power over the housing market. I guess it was a bridge too far.As America’s central bank, the Fed [...]
Like or Dislike:
0 
0