Author: United States General Accounting of Gao
Publisher:
ISBN: 9781090713216
Category :
Languages : en
Pages : 42

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Author: James R. Hagerty
Publisher: Arcadia Publishing
ISBN: 1614236992
Category : Business & Economics
Languages : en
Pages : 241

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“A lucid and meticulously reported book by one of the Wall Street Journal’s ace reporters” (George Anders, Forbes contributor and author of The Rare Find). In 1938, the administration of Franklin Delano Roosevelt created a small agency called Fannie Mae. Intended to make home loans more accessible, the agency was born of the Great Depression and a government desperate to revive housing construction. It was a minor detail of the New Deal, barely recorded by the newspapers of the day. Over the next seventy years, Fannie Mae evolved into one of the largest financial companies in the world, owned by private shareholders but with its nearly $1 trillion of debt effectively guaranteed by the government. Almost from the beginning, critics repeatedly warned that Fannie was an accident waiting to happen. Then, in 2008, the housing market collapsed. Amid a wave of foreclosures, the company’s capital began to run out, and the US Treasury seized control. From the New Deal to President Obama’s administration, James R. Hagerty explains this fascinating but little-understood saga. Based on the author’s reporting for the Wall Street Journal, personal research, and interviews with executives, regulators, and congressional leaders, The Fateful History of Fannie Mae, he explains the politics, economics, and human frailties behind seven decades of missed opportunities to prevent a financial disaster.

Author: Oonagh McDonald
Publisher: A&C Black
ISBN: 1780935234
Category : Business & Economics
Languages : en
Pages : 494

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Book Description
The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership.

Author: Peter J. Wallison
Publisher: American Enterprise Institute
ISBN: 9780844741901
Category : Federal home loan banks
Languages : en
Pages : 128

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Book Description
This book argues that privatization of the government-sponsored enterprises is the only viable way to protect the taxpayers and the economy.

Author: United States. Department of Housing and Urban Development
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 792

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Author: Viral V. Acharya
Publisher: Princeton University Press
ISBN: 1400838096
Category : Business & Economics
Languages : en
Pages : 233

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Book Description
Why America's public-private mortgage giants threaten the world economy—and what to do about it The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets.

Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Income averaging
Languages : en
Pages : 8

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Author:
Publisher:
ISBN:
Category : Government securities
Languages : en
Pages : 28

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Author: Bethany McLean
Publisher:
ISBN: 9780990976301
Category : Business & Economics
Languages : en
Pages : 159

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Book Description
In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. But until the financial crisis, few people knew the essential role that Fannie Mae and Freddie Mac play in their mortgages. Given the $188 billion government bailout of the two firms the most expensive bailout in history the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. Best-selling investigative journalist Bethany McLean, the coauthor of The Smartest Guys in the Room andAll the Devils Are Here, explains why the situation is dangerous and unsustainable, and proposes a few solutions from the perfect, but politically unfeasible to the doable, but ugly.

Author: United States
Publisher:
ISBN:
Category : Soldiers
Languages : en
Pages : 42

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