Quotes About Fannie

We gotta get Fannie and Freddie out of government ownership. It makes no sense that these are owned by the government and have been controlled by the government for as long as they have.

Instead of 6.7 million, the actual number was probably closer to 18 million, and, including Alt-A loans and loans backing PMBS, at least 31 million. Most of the missing subprime loans were on the balance sheets of Fannie and Freddie, which were hiding the numbers of subprime loans they had acquired to meet the affordable-housing goals.

When George W. Bush tried to roll back taxpayer exposure to a housing crash via Fannie and Freddie, guess what two senators joined a filibuster of the Bush initiative? Yep... those saviors of the working class, Barack Obama and Hillary Clinton. They went to bat for the housing industry and voted to allow taxpayer exposure to escalate.

We will not support returning Fannie and Freddie to the role they played before conservatorship, where they fought to take market share from private competitors while enjoying the privilege of government support.

You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.

Fannie and Freddie are creations of government. They were given a huge leg up over their competitors.

You can design a mortgage system that is different without a Fannie and Freddie, but there are principles you have to have, to have a good system.

My constituents say, 'Congressman, have you balanced the budget?' And I'm going to say, 'Well, we're working on it.' And they are going to say, 'Well, Congressman, did you get rid of Fannie and Freddie?' And I'm going to say, 'Well, we're working on it.'

I think we're not going to preserve Fannie and Freddie in anything like their current form. We're going to have to bring fundamental change to that market.

This world is much too sad a place For Fannie's warm and happy smile. The feeling she feels far too deep For the endless heartless guile Of this unfriendly world." He

My resolve against backstopping Fannie and Freddie didn't last long.

Fannie and Freddie also spent some of their profits on lobbying and political contributions, cementing the cozy relationship

Because the government is taking practically every penny of profit that the two companies generate to shrink the federal deficit, Fannie and Freddie have not been allowed to rebuild any capital, which could absorb losses in the event of another downturn in the housing market.

Fannie and Freddie made two-thirds of all subprime mortgages. That is not a free market institution. That entity, along with the Fed printing too much money back in '03 and '04, caused the housing collapse. So we need to take free markets seriously. That means we have to put an end to all these tax credits and tax deductions and loopholes.

For the majority of mortgages continued to enjoy an implicit guarantee from the government-sponsored trio of Fannie, Freddie or Ginnie, meaning that bonds which used those mortgages as collateral could be represented as virtually government bonds, and hence 'investment grade'.