Monday, December 05, 2016
End Freddie And Fannie
Donald Trump's Treasury Secretary nominee is Steven Mnuchin and he has proposed ending the government's control of Freddie Mac and Fannie Mae, the two bodies involved in the housing collapse that have been under government control for many years. The result was Freddie Mac and Fannie Mae "became corporate zombies, by being stripped of all the standard attributes that normally attach to share ownerships." Government involvement in economics by now is manifestly a failure, so in essence getting the government out of Freddie Mac and Fannie Mae should not be a negative.