www.baltimoreexaminer.com >> Opinion:
"As The Heritage Foundation points out, [Fannie Mae and Freddie Mac are] not government agencies, but they were never really “private” either. Like Social Security (which is also in deep financial trouble), Fannie Mae is a relic from the New Deal and Freddie Mac was chartered by Congress in 1970.
Both were established to further a policy objective: make homes affordable for lower- and middle-income families. We all know how that turned out."
If this is the case that Fannie and Freddie were government-linked, then why are the CEOs of these organizations allowed to abscond with millions of dollars? Enron CEO Kenneth Lay had all of his money removed from him by the justice system, and Enron was private. Can't the same be even easier for those involved with raiding our home mortgage system?
We can't let Fannie and Freddie fail; it would not only destroy our economy, but probably ruin the mortgage industry worldwide. But what's Congress doing about this?
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