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End This Mission Impossible

Posted By Conn Carroll On August 6, 2008 @ 11:24 am In Ongoing Priorities | Comments Disabled

Freddie Mac CEO Richard Syron told reporters yesterday [1] that Freddie’s dual role as a government sponsored entity charged with creating profit for private investors and serving the public by boosting the housing market is “almost impossible.”

We almost agree [2]:

Fannie and Freddie are leftovers from an era when giant government entities seemed essential to achieving social goals. … Congress should look at breaking up both. A larger number of smaller entities could compete with each other without artificially dominating the market. In other words, let’s bring real capitalism to the housing-securitization markets.


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URL to article: http://blog.heritage.org/2008/08/06/end-this-mission-impossible/

URLs in this post:

[1] told reporters yesterday: http://www.washingtonpost.com/wp-dyn/content/article/2008/08/05/AR2008080503351.html

[2] agree: http://www.heritage.org/Press/Commentary/ed071608a.cfm

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