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Sunday, February 23, 2014 1:14:04 PM
http://democrats.financialservices.house.gov/press/PRArticle.aspx?NewsID=1652
That being said (and realizing that the following information may or may not be applicable to the current situation) I found this information provided by the Government Accountability Office (GOA) in 2010. It outlines potential options for GSE reform, including a cooperative model:
http://www.gao.gov/assets/100/97175.pdf
Below are some interesting tidbits:
-Generally, Congress and the administration are considering various reform
options for the enterprises, including the three options that GAO discussed in its
September 2009 report: creating a new government corporation or agency,
reestablishing for-profit enterprises with government sponsorship but with
additional restrictions on their activities, or privatizing or terminating them (see
slide 19).
-As indicated in our report, the cooperative model is generally viewed as a
component of these larger options rather than an option by itself.
-While the cooperative model could conceivably fall under any of the three overall
options, it is generally seen as most closely associated with the option of
reconstituting the GSEs.
-Reestablish for-profit enterprises with government sponsorship.
-The potential ownership structures for these private entities could be
shareholder-owned (similar to the enterprises’ current structure),
cooperatives, or perhaps nonprofit.
-It has also been proposed that the enterprises be subject to public utility
regulation. That is, a regulatory agency could issue regulations governing
their activities and rate of return (profitability). Likewise, the ownership of
such entities could also be the cooperative model or shareholder owned.
It has also been proposed that the enterprises be subject to public utility
regulation. That is, a regulatory agency could issue regulations governing
their activities and rate of return (profitability). Likewise, the ownership of
such entities could also be the cooperative model or shareholder owned.
Also, notice Maxine Waters' numerous quotes about preventing the "perverse incentives" that were the "root cause of the housing crisis".
Is she simply referring to the shareholder style model of the current system, or is she speaking more specifically about excessive executive compensation? We will soon find out...
Similar language can be found here:
http://books.google.com/books?id=iD8-bWporl8C&pg=PA56&lpg=PA56&dq=fannie+freddie+perverse+incentives&source=bl&ots=tbPuEC1ZMb&sig=C-_9-xnWRPm6GzlZ6iLmkUV6Cgs&hl=en&sa=X&ei=uzgKU_niFafXyAHn5ICgCw&ved=0CCYQ6AEwAA#v=onepage&q=fannie%20freddie%20perverse%20incentives&f=false
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