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<a href="http://www.accessmylibrary.com/article-1G1-187563386/worse-than-you-think.html" title="Facts and information about Worse than you think: what went wrong at Fannie and Freddie--and what still might.(WALL STREET CRISIS II)(Essay)">Worse than you think: what went wrong at Fannie and Freddie--and what still might.(WALL STREET CRISIS II)(Essay)</a>
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Worse than you think: what went wrong at Fannie and Freddie--and what still might.(WALL STREET CRISIS II)(Essay)
THE government's takeover of Fannie Mae and Freddie Mac in the middle of a presidential race--coupled with the fact that their activities contributed significantly to the current financial crisis--has brought these "government-sponsored enterprises" (GSEs) into unusual prominence. One of the principal elements of the story is its similarity to the savings-and-loan (S&L) collapse of only 20 years ago, and the failure of Congress to understand and apply the lessons of that debacle.
Fannie began life as a government agency, commissioned to add liquidity to the housing-finance system. To perform this function, it borrowed funds in the capital markets and used them to ...
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Source: HighBeam Research, Worse than you think: what went wrong at Fannie and Freddie--and what...