Fannie and Freddie helped spawn the mortgage crisis, and so did affordable housing mandates

posted by
January 9, 2012
by Hans Bader  
Posted in Commentary

"In a recent letter in The New York Times, I noted the role played by the government-sponsored enterprises, Fannie Mae and Freddie Mac, in spawning the financial crisis and burdening taxpayers to the tune of hundreds of billions of dollars. The two mortgage giants bought up risky sub-prime mortgages partly in order to satisfy government affordable-housing mandates, as even the liberal Village Voice found in its investigative reporting." (01/09/12)  

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