The Mudcat Café TM
Thread #112664   Message #2387368
Posted By: Q (Frank Staplin)
12-Jul-08 - 12:50 PM
Thread Name: BS: Nationalize Freddie&Fannie NOW
Subject: RE: BS: Nationalize Freddie&Fannie NOW
Riginslinger's message boils down to the contention that people are essentially crooked.
"Anyone who has ever worked for a big company..." There are millions.
Bank of America, 200,000; Exxon-Mobil, 83,000, etc. etc.

Freddy Mac and Mae were created by act of Congress in 1968 and 1970. They were not operated by the government.
'Ginnie Mae' is a government agency.

Freddymac has financed all or part of the mortgages of 50 million homeowners. About one-half of the loans support loans for low to moderate income families. It is small in number of employees; some 5000. But much of the lending is done by other institutions, but supported by Freddy Mac, and the mortgage bought by them.