2009-09-05 — blogspot.com
"Labor Day, Monday September 10, marks the first anniversary of the US takeover of Fannie Mae and Freddie Mac. Prior to the takeover, the two had for over 70 years bought over half of US mortgage loans from lenders and sold them on, packaged as securities, to investors. If you put it in in the right terminology, Fannie and Freddie are just one step shy of the Red Cross and Salvation Army. "
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