A Quote by 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

Quote Topics

Banks Buy Capital Financial Financial Institutions Institutions Lenders Loans Mac Mae Make New Other Providing Those

Quote Author

Charles Duhigg
American - Journalist
Born: 1974

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

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

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

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

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

Barney Frank

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

In September 2008, the two largest housing mortgage companies called Fannie Mae and Freddie Mac, which were government-sponsored enterprises, which hold hundreds of billions of dollars of mortgages, because of the losses they took on the mortgages, they essentially became insolvent, and the government had to take them over.

Ben Bernanke

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

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

Fannie Mae has traditionally only bought and sold mortgages. But when a loan held by the company goes into foreclosure, Fannie Mae gains ownership of the underlying property until it is resold to new investors.

Charles Duhigg

RE: GSEs like Freddie Mac & Fannie Mae: "creditors will continue to underprice the risk-taking of these financial institutions, overfund them, and fail to provide effective market discipline Facing prices that are too low, systemically important firms will take on too much risk."

Gary H. Stern

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. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.

Barney Frank

We have the idea of saying that put limitations on bailouts, so that the bailouts don't occur in the future, so that we don't have to do the - look to see AIG situations or Bear Stearns situations or the Fannie Mae or Freddie Mac, which is probably going to be more money spent on those two institutions than the Congress spent on the TARP program.

Scott Garrett

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.