the strange saga of the U.S. mortgage giants McLean, Bethany 1970- creator Federal National Mortgage Association (Fannie Mae) text bibliography History. nyu 2015 monographic eng

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159 pages : map ; 20 cm. "Fannie Mae and Freddie Mac were created by Congress to serve the American Dream of homeownership. By the end of the century, they had become extremely profitable and powerful companies, instrumental in putting millions of Americans in their homes. So why does the government now want them dead? In 2008, the U.S. Treasury put Fannie and Freddie into a life-support state known as 'conservatorship' to prevent their failure--and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer losses again. China and Japan are big owners of Fannie and Freddie securities, and they want to ensure the safety of their investments--which helps explain why the government is at an impasse about what to do. But the current state of limbo is unsustainable. Based on comprehensive reporting and dozens of interviews, Shaky Ground chronicles the story of Fannie and Freddie seven years after the meltdown, and tells us why homeownership finance is now one of the biggest unsolved issues in today's global economy"--Page 4 of cover. Subprime -- The bazooka -- The blame game -- Housing industrial complex -- The roaring nineties -- "We were at war" -- The $9 billion accounting fraud -- The toxic twins -- Doing nothing -- Mr. Hedge Fund goes to Washington -- Defending the common man -- No end in sight -- Fixing the roof -- Shaky ground. Bethany McLean. Includes bibliographical references (pages 150-159). n-us--- Federal National Mortgage Association. Asociación Federal Nacional Hipotecaria (Fannie Mae) Freddie Mac (Firm) Federal National Mortgage Association. Mortgage loans United States Prestamos hipotecarios Estados Unidos Subprime mortgage loans United States Préstamos hipotecarios subprime Estados Unidos Subprime mortgage loans Government policy United States Préstamos hipotecarios subprime Política gubernamental Estados Unidos Mortgage banks United States History Bancos hipotecarios Estados Unidos Housing United States Finance Financiación de vivienda Estados Unidos Housing Mortgage banks Mortgage loans Subprime mortgage loans United States HG 2040.5 M478s 2015 332.720973 McLean, Bethany. New York : Columbia Global Reports, [2015] (OCoLC)914191653 9780990976301 (paperback) 0990976300 (paperback) 2015940135 BTCTA 150430 20230411090828.0 18597819 eng