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Obama Can't Fix Housing Without a 30-Year War
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Reilly points out that removing the government and "putting private capital back at the center of a healthier" housing-finance system, as recommended in a policy paper from the Treasury Department, is only possible if the government gives up the idea of a 30 year mortgage. Thirty year loans as currently structured are not attractive to investors without a government guarantee. The revival of securities markets for mortgages not backed by the government is not possible with the 30 year mortgage. There are benefits from the government getting out of the mortgage markets. A significant benefit is that there would be less incentive to invest in housing, so that more capital is available to other productive areas of the economy leading to higher economic growth. In fact the diversion of economic resources from more productive uses to housing was a major problem in the last decade.
The need to move government away from housing for a better allocation of resources in the U.S. economy
02/09/2011
Grouped Articles
White House Plans to Revamp Mortgage Market
Wall Street Journal 02/09/2011
Fannie, Freddie Phaseout Proposed
Wall Street Journal 02/11/2011
Obama Can't Fix Housing Without a 30-Year War
Wall Street Journal 02/11/2011
Number of the Week: Government’s Overwhelming Role in Mortgages
Wall Street Journal 02/12/2011
Planning a Better Way Than Fannie and Freddie
New York Times 02/12/2011
Wall Street Journal 02/14/2011
Fannie Mae and Freddie Mac and the housing crisis
07/08/2008
Share prices of both companies drop precipitiously and could leave shareholders with pennies.
Grouped Articles
Fannie Mae to pay $59.4B to Treasury - The Washington Post
Washington Post 05/09/2013
Fannie Chief: Payout Must Not Delay Revamp
Wall Street Journal 05/10/2013
The Housing Market Is Still Missing a Backbone
New York Times 08/10/2013
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
Fannie Mae and Freddie Mac: Unfinished business
Economist 07/24/2010
How Do You Solve a Problem Like Fannie?
Wall Street Journal 12/24/2013
Fannie and Freddie in debt situation requiring government help similar to the banks.
04/03/2009
About $400 billion was committed earlier of which $112 billion has been given to Fannie and Freddie. Now officials say in December 2009 that $400 billion may be needed for each company.
Grouped Articles
Fannie Mae to pay $59.4B to Treasury - The Washington Post
Washington Post 05/09/2013
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
Fannie Mae and Freddie Mac: Unfinished business
Economist 07/24/2010
How Do You Solve a Problem Like Fannie?
Wall Street Journal 12/24/2013
Putting the Hit on Fannie, Freddie
Wall Street Journal 03/12/2014
Dream Mortgage Bailout Has a Darker Side
Wall Street Journal 04/03/2009
The total cost to US taxpayers for Fannie and Freddie.
01/12/2009
The total cost could be $658 billion, according to a Standard and Poor's estimate in late 2010. And prove very costly for taxpayers in the USA. The government put the agencies in conservatorship during the housing crisis of 2008.
Grouped Articles
New York Times 04/13/2013
Freddie's Profit Soars on Housing Rebound
Wall Street Journal 05/08/2013
Fannie Mae to pay $59.4B to Treasury - The Washington Post
Washington Post 05/09/2013
Fannie Chief: Payout Must Not Delay Revamp
Wall Street Journal 05/10/2013
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
Takeover of Fannie and Freddie by the government
09/08/2008
The weeks before the takeover and the work of Secretary Paulson and Ben Bernanke.
Grouped Articles
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
Plan for Mortgage Giants Takes Shape
Wall Street Journal 03/12/2014
Putting the Hit on Fannie, Freddie
Wall Street Journal 03/12/2014
Senators Draft Housing Finance Overhaul
New York Times 03/11/2014
Few Stand to Gain on This Bailout, and Many Lose
New York Times 09/08/2008
The Obama administration's plan to phase out Fannie Mae and Freddie Mac
02/11/2011
Grouped Articles
Fannie Chief: Payout Must Not Delay Revamp
Wall Street Journal 05/10/2013
The Housing Market Is Still Missing a Backbone
New York Times 08/10/2013
White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
Plan for Mortgage Giants Takes Shape
Wall Street Journal 03/12/2014
Putting the Hit on Fannie, Freddie
Wall Street Journal 03/12/2014
Senators Draft Housing Finance Overhaul
New York Times 03/11/2014
California's lawsuit against Fannie and Freddie
02/11/2011
Grouped Articles
California Suing Fannie and Freddie
Wall Street Journal 12/21/2011
Fannie and Freddie don’t deserve blame for bubble - The Washington Post
Washington Post 01/28/2012
Obama Can't Fix Housing Without a 30-Year War
Wall Street Journal 02/11/2011
Legal bills of Fannie Mae and Freddie Mac: 2010-2012
01/24/2011
Grouped Articles
Legal Bills for Fannie and Freddie Abuses Cost Taxpayers $160 Million
New York Times 01/24/2011
Ex-Freddie Mac C.F.O. May Face Civil Charges
New York Times 02/17/2011
Wall Street Journal 07/12/2011
An Accidental Housing Chief Embraces the Power of 'No'
Wall Street Journal 08/31/2011
Gingrich think tank collected millions from health-care industry - The Washington Post
Washington Post 11/18/2011
Wall Street Journal 12/12/2011
Obama and McCain, Presidential candidates 2008, and their ties to Fannie Mae and Freddie Mac.
07/23/2008
The important role Fannie and Freddie lobbyists play in the campaigns of Obama and McCain at the highest level would make one rethink of them as agents of change very seriously. Both are promoting their own careers but in this they were promoting their own careers at the risk of the national interest as without the hard and timely work in 3 to 4 weeks of Secretary Paulson, Ben Bernanke and others, the collapse of Fannie and Freddie would have endangered the American and one could also say the world economy.
Grouped Articles
How John McCain Turned His Clichés Into Meaning
New York Times 12/18/2013
Wall Street Journal 07/23/2008
For ’08 Rivals, a Skein of Ties to Loan Giants
New York Times 09/10/2008
Cost of Fannie And Freddie Keeps Rising
New York Times 06/19/2010
Wall Street Journal 11/16/2010
Wall Street Journal 07/12/2011
Winding down Fannie and Freddie- views of Republicans and Democrats (3)
11/05/2010
Linked Articles
Gridlock Could Delay Fannie Reboot
Wall Street Journal 11/05/2010
Obama Can't Fix Housing Without a 30-Year War
Wall Street Journal 02/11/2011
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