One of the most common Republican battle cries over the past year has been to wind down government sponsored mortgage companies Fannie Mae and Freddie Mac (F&F). They played a major role in creating the housing bubble that led to the financial crisis. The taxpayers’ loss on their rescue will exceed $150 billion, which is several times the cost of the rescue for the rest of the financial industry. Yet a new report indicates that Republicans might not be so eager to tear down F&F after all.
Why are Republicans changing their tune on Fannie and Freddie?
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