Guaranteed to fail : Fannie Mae, Freddie Mac, and the debacle of mortgage finance

Resource Information

The work Guaranteed to fail : Fannie Mae, Freddie Mac, and the debacle of mortgage finance represents a distinct intellectual or artistic creation found in San Francisco Public Library. This resource is a combination of several types including: Work, Language Material, Books.

Label

Guaranteed to fail : Fannie Mae, Freddie Mac, and the debacle of mortgage finance

Title remainder

Fannie Mae, Freddie Mac, and the debacle of mortgage finance

Statement of responsibility

Viral V. Acharya ... [et al.]

Contributor

• Acharya, Viral V

Subject

• Business failures -- United States -- History -- 21st century
• Federal National Mortgage Association
• Financial crises -- United States -- History -- 21st century
• Freddie Mac (Firm)
• Housing -- United States -- Finance
• Mortgage loans -- Government policy -- United States

Language

eng

Summary

The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets

Cataloging source

DLC

Dewey number

332.7/20973

Illustrations

illustrations

Index

index present

LC call number

HG2040.5.U5

LC item number

G83 2011

Literary form

non fiction

Nature of contents

bibliography