Freddie and Fannie – where are they now?

This “causes of the GFC” article is well worth reading, dealing as it does with  the rarely discussed but hugely significant failure of the two big US GSE home lenders, Fannie Mae and Freddie Mac.

I’m not sure I agree with all of the sentiments – particularly the suggestion that the failure of US regulators to control their own lenders somehow reduces the culpability of the private sector to do the same thing – but the focus on the role played by Fannie and Freddie is appropriate given their almost unbelievable size.

Business Spectator article, originally appearing in Online Opinion.