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Fannie Mae: Driving Homeownership Or Monopoly?

Posted by: Chris Steins
Thanks to: Chris Steins
10 July 2001 - 7:00am

Does Fannie Mae's unique position as a quasiofficial company give it an unfair advantage against private business? Perhaps, but it's a formidable political force.

"Why has the company proved so impregnable? Fannie Mae says the reason is simple: It has won the substantive debate, convincing policy makers that the benefits from its rapid expansion -- wider home-ownership -- outweigh any downside.But that isn't the whole story. The other part: Fannie Mae has built one of Washington's most potent political machines, one that has unique features to sway legislators. Over the past year that machine has gone into overdrive."

Full Story: How Fannie Mae Beat Effort By Adversaries to Rein It In
Source: Wall St. Journal, July 5, 2001
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