Can We Afford to Rescue Fannie Mae and Freddie Mac?

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Fannie Mae and Freddie Mac were established to promote the American dream of home-ownership, by subsidizing mortgages backed by the federal government. When the housing bubble burst two years ago their risky loans left taxpayers on the hook for nearly a half-trillion dollars. The New York Times reports that in the first three months of this year, they took over a foreclosed home every 90 seconds, and they now own more homes than there are in the city of Seattle

Credits

Guests:
Binyamin Appelbaum - New York Times - @BCAppelbaum, Richard Green - USC Lusk Center for Real Estate - @keynesianr, Christopher Thornberg - Beacon Economics, Dean Baker - Center for Economic and Policy Research - @DeanBaker13

Host:
Warren Olney

Producers:
Darrell Satzman, Karen Radziner