Realtors GSE Vision: Where No Man Has Gone Before

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

The same old people are trying to rehash old ideas of what to do with Fannie Mae and Freddie Mac. Instead of letting well-enough alone, they must create chaos by going where no one man has gone before.

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Here is the Realtors’ proposal written by Susan Wachter, former Assistant HUD Secretary under Andrew Cuomo.

You know, the same HUD team that brought us The National  Homeownership Strategy under President Clinton. That nearly trashed the US economy.

Long story (33 pages) short: They advocate turning Fannie Mae and Freddie Mac into “public utilities.” With the Federal government and the banks as owners (shareholders).

Sure, let’s risk the housing and mortgage markets so the same people that brought is the finnacial crisis (or didn’t  see it coming) can introduce something that has never been tried before.




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