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A Revolving Door Helps Big Banks’ Quiet Campaign to Muscle Out Fannie and Freddie

By Gretchen Morgenson

Seven years after their dubious lending practices helped push the United States economy to the brink of disaster, the nation’s largest banks are closing in on a long-sought goal: to unseat Fannie Mae and Freddie Mac, the mortgage finance giants, and capture their share of the profits in the country’s $5.7 trillion home loan market.

Taking place largely behind the scenes, the movement to take over the mortgage market has been propelled in part by a revolving door between Washington and Wall Street, an investigation by The New York Times has found.

Read the full article: A Revolving Door Helps Big Banks’ Quiet Campaign to Muscle Out Fannie and Freddie