Monday, February 07, 2005

Fannie/Freddie Regulator Preps For Bankruptcy

The Office of Federal Housing Enterprise Oversight is pushing legislation through congress that prepares for the insolvency of the mortgage giants. Patrick Lawler, OFHEO chief economist told a forum "Receivership is a valuable thing".

None of this is reported on the official website of the regulator. Also mentioned in this story was this tidbit;"..a coalition of 37 federal, state, and local groups urged the federal government and Congress to cut ties with Fannie and Freddie Thursday. Warning that Americans are threatened by a potential taxpayer bailout of the two companies".


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