Fannie Mae and Freddie Mac has been recently in the limelight (mainly bad news), but actuallly there is a another entity called the Ginnie Mae to complete the trioka
Spacy is a little off on this one they are not set up by the federal government they are chartered by the government. They exist as a seperate for profit entity and are not a department of the government. This is a common misconception by the public. These outfits are a for profit corporation but play a very important roll in the housing market. This roll is so important that the government will step in and assure liquidity for the companies if they carry to many losses.
I guess you are right but I think your distinction is merely a technicality. For all intent and purposes, these 3 organizations are intricately linked to the federal goverment whether or not they are a formal dept of the US government.
I don't really care about all these niceties; now that the federal govt is bailing out Freddie and Fannie, all I know is that I, the American taxpayer will be footing the bill for other people's mistakes and excesses and I am really pissed off
Ginnie Mae
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