Fannie Mae and Freddie Mac are the real ‘black holes’ in the financial regulation bill before Congress and they both need to be addressed, Robert Pozen, Chairman of MFS Investment Management, said this week. “They were too political volatile to handle and are not in the bill,” said Pozen who is a former vice chairman of Fidelity Investments. “But we need to get to them. Fannie reported an $8bn loss in the first quarter but the costs to them for the loans in the footnote of the report, were over $100bn. The $8bn may turn out to be just a drop in the bucket.”

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