Think Freely Media presents Common Sense with Paul Jacob

Fannie and Freddie

On September 7, 2008, the US Government “took control” of the two largest mortgage financing companies in the United States, Fannie Mae and Freddie Mac. Both of these had been created by Congress as part of a concerted plan to make home ownership easier, and both had gotten completely out of hand during the many years of their existence, especially under new rules established by politicians in the 1990s. The after-market that they helped create — the packaged mortgage market — was what imploded in 2008, leading to the current economic slump.

By: Redactor

Leave a Reply

Your email address will not be published. Required fields are marked *

© 2018 Common Sense with Paul Jacob, All Rights Reserved. Back to top