“Fannie, Freddie Remain Unfixed”
“With much fanfare, President Obama has signed the Dodd-Frank financial reform bill, promising the most sweeping reform since the Great Depression. This massive bill extends regulation to many parts of the U.S. economy, and adds new open-ended bureaucracies that expand the powers of government over a wide variety of financial firms. Does the bill really address the serious shortfalls in our system that contributed to the financial crisis? In general, the answer is clearly no.
This bill simultaneously over- and under-regulates the financial sector of the U.S. economy, and increases the complexity of regulation. At the same time, Fannie Mae and Freddie Mac, the $5 trillion mortgage giants that were central to financial destruction and continue to be a burden on taxpayers, were are untouched and largely ignored.” Read more.
“Fannie, Freddie Remain Unfixed”
Steve B. Wyatt
Cincinatti.com, July 26, 2010.
Image by jscreationsz / FreeDigitalPhotos.net.
