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Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance
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Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance

3.21 of 5 stars 3.21  ·  rating details  ·  38 ratings  ·  3 reviews
The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. T...more
Hardcover, 232 pages
Published April 3rd 2011 by Princeton University Press (first published January 1st 2011)
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Liam
"No firm could compete with Fannie and Freddie under these circumstances: they paid less taxes, could borrow at cheaper rates, and were lightly regulated in that they faced low capital requirements for holding similar risks compared to private-sector counterparts." (21-2)

"In the end, the GSEs had inadequate capital for the risks that they were taking. But virtually all critics got the immediate source of the problem wrong. What caused the financial downfall of the GSEs was not the interest rate...more
Michael Foley
Acharya, Richardson, Van Nieuwerburgh, and White are professors at NYU's Stern School of Business. Individually, they are experts in the field of economics. Collectively, they are authors of the finest book on the collapse of the American mortgage market. Acharya et al. take aim at Fannie Mae and Freddie Mac as they describe the series of events that led to their downfall. These events were the result of decades of policy abuses, greed, and mismanagement. As a result, American subprime mortgage...more
Mary Beth
This book gets a 4 not because it's a good read -- it's dry as hell -- but because it's very, very informative about the details of Fannie and Freddie Mac. Some very good advice at the end, too.
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