Description
Fannie Mae and Freddie Mac were created by Congress to serve the American Dream of homeownership. By the end of the century, they had transform extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes. So why does the government now want them dead?
In 2008, the U.S. Treasury put Fannie and Freddie into a life-strengthen state referred to as “conservatorship” to prevent their failure–and worldwide economic chaos. The two companies, which have been at all times controversial, have transform a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer must they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they need to ensure the safety of their investments–which helps provide an explanation for why the government is at an impasse about what to do. But the current state of limbo is unsustainable.
Based on comprehensive reporting and dozens of interviews, Shaky Ground by bestselling creator Bethany McLean, chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the vital biggest unsolved issues in today’s global
In 2008, the U.S. Treasury put Fannie and Freddie into a life-strengthen state referred to as “conservatorship” to prevent their failure–and worldwide economic chaos. The two companies, which have been at all times controversial, have transform a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer must they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they need to ensure the safety of their investments–which helps provide an explanation for why the government is at an impasse about what to do. But the current state of limbo is unsustainable.
Based on comprehensive reporting and dozens of interviews, Shaky Ground by bestselling creator Bethany McLean, chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the vital biggest unsolved issues in today’s global
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