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Commentary Topic from greenfaucet

Fannie, Freddie and Bill Clinton: How We Got Into This Mess

Why did Fannie Mae and Freddie Mac fail? Let's revisit a prescient September 30,1999 article from none other than the New York Times, which describes the point at which the GSEs jumped the tracks: In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The article goes on to describe the political backdrop: