Joe Nocera On The Economy's Inconvenient Truth

There is so much about Fannie Mae and Freddie Mac that we should be angry about.

In their heyday, these strange hybrids ? part corporation, part government agency ? were the biggest bullies in Washington, quick to bludgeon critics who dared suggest that their dual missions of maximizing profits while making homeownership affordable for low- and moderate-income Americans were incompatible. They steamrolled their regulator and pushed back at any suggestion that their capital was inadequate.

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Source: http://www.huffingtonpost.com/2011/12/20/joe-nocera-on-the-economy_n_1161466.html

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