Fed says expand Fannie, Freddie role to aid housing

Now here's something the Feds haven't tried before...

(Reuters) - The U.S. government-run mortgage finance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition.

The Fed, in a paper sent to lawmakers on Wednesday, outlined an array of steps that could be taken to help the housing sector, including allowing Fannie and Freddie to provide cheaper mortgages to a broader pool of homeowners.

http://www.reuters.com/article/2012/01/ ... SE20120105

I like it... what could go wrong?

If you put the federal government in charge of the Sahara Desert, in 2 years there'd be a shortage of sand." ~Milton Friedman~

Martin Ent Inc wrote: If you put the federal government in charge of the Sahara Desert, in 2 years there'd be a shortage of sand." ~Milton Friedman~

rofllol Ain't that the truth.... Maybe someone could convince Barney Frank to stick around and head that up since he did such a good job last time.

Martin Ent Inc wrote: If you put the federal government in charge of the Sahara Desert, in 2 years there'd be a shortage of sand." ~Milton Friedman~

"The Fed" is not the Federal government. What it does is not even required to be approved of by the Federaal government. It has some quasi-governmental functions, but for all intents and purposes it's private industry.

So is the irs.

.are doomed to repeat it.. or something like that.