Fannie Mae-No Politics (FNMA)

[IL Padrino]

So, how is it possible that a process begun almost a decade ago, which has had so many people working on it so intently for so long, could produce a result so empty and unimpressive? To understand this, you only need to know one thing: legislative mortgage reform is not, and never has been, about reducing the cost and expanding the availability of mortgage credit for consumers, or making the system safer for taxpayers; it’s about reducing the secondary market power of Fannie and Freddie to give more primary market power to the large commercial banks.