Barney Frank says that Fannie/Freddie have morphed exclusively into a public policy instrument following the housing collapse.
Starting at 4:12 in video:
“Remember now that Fannie and Freddie have been converted, they were problematic before, and we didn’t get around ’til 2007 of passing that reform… Part of the losses of Fannie and Freddie is that since the housing collapse, Fannie Mae and Freddie Mac have become a kind of public utility. They are not what they used to be, that hybrid, inappropriately hybrid, private stock company/public policy instrument. They have become the public utility that finances housing…”
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Fannie, Freddie Are Basically “Public Policy Instruments Of The Government”
There is nothing factually wrong with this statement. Both organizations are Socialist instruments of societal change. In this case promoting home ownership for people who cannot afford homes.
So true. So true. Socialists.