Financial Times: Winding down Fannie and Freddie
Editorial | November 20, 2013 It has been five years since Lehman Brothers collapsed and longer since the US subprime bubble burst. Yet plans to reform Fannie Mae and Freddie Mac – the government-sponsored behemoths that underwrite the US housing market – are little nearer to completion. Both Republicans and the Obama administration agree on the need to wind these entities down. Just not quite yet. Now a group of activist investors are agitating Washington to privatise their key mortgage insurance functions. Last week they raised their equity stakes in the two enterprises. Their business plan... Read More »