Thursday, July 14, 2011

Abolishing Fannie Mae: Harder Than It Looks?

Politicians from both major parties are struggling to solve the problem of Fannie Mae, leading Republicans are calling for Fannie Mae and sister organization Freddie Mac to be abolished and government guarantees on loans to be stopped. However, these government agencies now back 9 out of 10 new loans and both the Democrats and the real estate market want a permanent government presence to help protect the $10.5 trillion mortgage industry.

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