A Quote by Bethany McLean

Fixing Fannie Mae and Freddie Mac in isolation, without looking at the big picture, would be short-sighted.

Bethany McLean

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Big Big Picture Fixing Isolation Looking Mac Mae Picture Short Short-Sighted Without Would Would Be

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Bethany McLean
American - Editor
Born: December 12, 1970

Fannie Mae and Freddie Mac - two bloated and corrupt government-sponsored programs - contributed heavily to the crisis.In order to prevent another crisis, we need to do what we should have done years ago - reform Fannie Mae and Freddie Mac. We also need to repeal Dodd-Frank, the Democrats' failed solution. Under Dodd-Frank, 10 banks too big to fail have become five banks too big to fail. Thousands of community banks have gone out of business.

Carly Fiorina

Well, Mark, I led the charge for five or six years to get reforms for Fannie Mae and Freddie Mac. I was chairman of an organization called 'FM Policy Focus.' What we were saying was, if there was blip in the housing market, Fannie and Freddie would destabilize the greatest economy in the world.

J. C. Watts

We do not have a crisis at Freddie Mac, and particularly Fannie Mae, under the outstanding leadership of Frank Raines.

Maxine Waters

These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis.

Barney Frank

When you start to confuse Freddie Mac, Sallie Mae and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children's birthdays, there's a good chance you've become too wrapped up in your work.

Peter Lynch

Analysts say that one reason Fannie Mae and Freddie Mac were privatized in the first place was to prevent political whims from dominating the mortgage marketplace.

Charles Duhigg

Fannie Mae and Freddie Mac buy mortgages from banks and other lenders, providing those financial institutions with capital to make new loans.

Charles Duhigg

Freddie Mac and Fannie Mae, although they're not officially debt of the federal government, they are off-balance-sheet debt.

John Thune

Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

Wilbur Ross

Congress created Fannie Mae in 1938 and Freddie Mac in 1970. For many years, these institutions prudently pursued their core mission of enhancing the availability of credit for housing.

Jerome Powell

One third of the $15 trillion of mortgages in existence in 2008 are owned, or securitized by Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing and the Veterans Administration. Wall Street buyers of repackaged loans didn't mind buying risky paper because they assumed that they would be guaranteed by the federal government: read bailout from the taxpayers. Today's housing mess can be laid directly at the feet of Congress and the White House.

Walter E. Williams

Fannie Mae is owned by shareholders but operates under a federal charter that exempts it from paying state or local taxes. As a result, many professional investors think the government would repay the debt that Fannie Mae had issued if the company could not, although Fannie Mae explicitly says that its bonds do not carry a federal guarantee.

Alex Berenson

The Great Bailout is mostly over for the banks. But for those troubled behemoths of the nation's housing bust, Fannie Mae and Freddie Mac, the lifeline from Washington just keeps getting longer.

Charles Duhigg

We faced a crisis caused by the Federal Reserve, the corporate tax system, Fannie Mae and Freddie Mac, and the Community Reinvestment Act. But the response of many people in Washington was to blame it on capitalism.

David Boaz

Although not well known outside Wall Street, Freddie Mac and its corporate cousin, Fannie Mae, are two of the world's largest financial institutions and play a crucial role in the housing market.

Alex Berenson

I think that the responsibility that the Democrats had may rest more in resisting any efforts by Republicans in the Congress, or by me when I was President, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.

William J. Clinton

A Quote by Bethany McLean

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