Investors Unite fires back at WSJ columnist in Fannie, Freddie recap row
HousingWire - April 3, 2015 - April 6, 2015
HousingWire, By Trey Garrison
Earlier this week, the Wall Street Journal’s John Carney argued that recapitalizing Fannie Mae and Freddie Mac is a bad idea, and that it would be more of a risk for taxpayers than another bailout.
“It’s important to note there is no insurance-like feature allowing Fannie and Freddie to build capital. The income foregone by the government wouldn’t lower the likelihood of losses or the ultimate costs. It would simply move the cost to the certain present from the contingent future. That’s a bad deal for taxpayers,” Carney wrote on the Wall Street Journal’s blog.
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