Fannie Mae And Freddie Mac In A Nutshell

The History News Network provides a brief introduction to these hugely influential Government Sponsored Enterprises -- and shows why their lack of public accountability in terms of their finances is of such concern to the Justice Department.
September 29, 2004, 8am PDT | Abhijeet Chavan | @legalaidtech
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"Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. In the event that there was some sort of financial collapse within either of these companies, U.S. taxpayers could be held responsible for hundreds of billions of dollars in outstanding debts."

Thanks to Michael Dudley

Full Story:
Published on Sunday, September 12, 2004 in History News Network
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