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Barney Frank’s Plan: Fannie and Freddie as Government Profit Machines
Click here for a printer-friendly version of this articleIn 2008, at the height of the turmoil in the housing and financial markets, the federal government took over Fannie Mae and Freddie Mac, the two...
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Nader Raises Good Points about the GSEs
In the WSJ last week, Ralph Nader authored an interesting op-ed about the consequences of federal conservatorship on the investors of Fannie and Freddie. Mr. Nader’s thesis is that the “mistreatment of...
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Geithner's Exit Plan for Fannie & Freddie
If we could go back in time, decades ago we would have phased out Fannie Mae and Freddie Mac — the two government controlled housing finance agencies — allowing for a wholly private secondary market...
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Risk Retention: Cracks in the GSE Reform Coalition
Earlier this week, the American Banker published an article on an emerging deal between all the key banking and finance regulators that could have a big impact on whether the future of housing finance...
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e21's Chris Papagianis's House Financial Services Committee Testimony
Statement by Christopher PapagianisManaging Director of the New York City office of e21: Economic Policies for the 21st CenturyBefore the Subcommittee on Capital Markets and Government Sponsored...
View ArticleTreasury Shouldn’t Help Speculators of GSE Stocks
In the wake of the financial crisis, the government-sponsored enterprises Fannie Mae and Freddie Mac are obviously in bad shape. Congress is currently discussing plans to dramatically scale-down or...
View ArticleThe Debt Ceiling and Households
Many analysts have emphasized the possibly disastrous consequences of the U.S. failing to raise its debt ceiling. Without the safe harbor of AAA-rated Treasury debt to serve as the common currency in...
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High Stakes Battle in Credit War
The latest battle in the ongoing war for the future of financial intermediation is currently unfolding in the high balance mortgage space. As of October 1, the Federal government’s agencies – the...
View ArticleFannie and Freddie Updated Cost Estimates
On Thursday, the Federal Housing Finance Administration (FHFA) announced that the total net cost of the Fannie and Freddie bailout could be as low as $121 billion, or about 0.8% of GDP. Some...
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Reflections on Barney Frank’s Legacy
Now that former House Financial Services Committee Chairman Barney Frank has announced that he will retire from Congress at the end of next year, policy analysts can begin to access the legacy of one...
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Barclays Says U.S. Treasury Bonds Accurately Measure Risk of Student Loan...
Barclays is the latest entity to perpetuate the myth that the federal government can earn higher returns on investments than private businesses because it finances them with U.S. Treasury debt. An...
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Fannie and Freddie's Huge Profits Raise Questions for Future of Mortgage Finance
Click here for a printer-friendly version of this article.Never have the government-sponsored enterprises (GSEs) dominated the U.S. mortgage market as they do today. Through June 2012, the GSEs (Fannie...
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Is it Fannie and Freddie’s Turn to Bailout the U.S. Treasury?
As e21 first pointed out last October, Fannie Mae and Freddie Mac are extremely profitable. The cash flow relationship between the government-sponsored enterprises (GSEs) and the Federal Government has...
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Making Government “Profits” Appear and Disappear: Student Loans vs. Fannie...
Official Congressional Budget Office estimates show that the federal student loan program will earn $184 billion for taxpayers in the next 11 years—about 13 cents for every dollar lent out. Those...
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Redistributive Credit Policies Won't Fix Inequality
Teaser: Mel Watt, Director of the Federal Housing Finance Agency, recently announced that he will reduce the minimum mortgage down payment requirement for Fannie Mae and Freddie Mac – the housing...
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