Thread: Fannie Mae, Freddie Mac Should Be Eliminated, Barney Frank Says
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Old 01-25-2010, 07:34 AM
Anthony Anthony is offline
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Originally Posted by 392cobra View Post
A top House Democrat on Friday said his committee was preparing to recommend "abolishing" mortgage-finance giants Fannie Mae and Freddie Mac and rebuilding the U.S. housing-finance system from scratch.

"The remedy here is...as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance," said Rep. Barney Frank (D., Mass.), the chairman of the House Financial Services Committee.

The true remedy would be changing the system that allowed fannie mae/freddie mac to be what they became.

I think Fannie mae and freddie mac are the very tip of our economic problems. The real problem is deeper rooted.
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