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Evaluating the Rescue of Fannie Mae and Freddie Mac

Author

Listed:
  • W. Scott Frame
  • Andreas Fuster
  • Joseph Tracy
  • James Vickery

Abstract

In September 2008, the U.S. government engineered a dramatic rescue of Fannie Mae and Freddie Mac, placing the two firms into conservatorship and committing billions of taxpayer dollars to stabilize their financial position. While these actions were characterized at the time as a temporary ?time out,? seven years later the firms remain in conservatorship and their ultimate fate is uncertain. In this post, we evaluate the success of the 2008 rescue on several key dimensions, drawing from our recent research article in the Journal of Economic Perspectives.

Suggested Citation

  • W. Scott Frame & Andreas Fuster & Joseph Tracy & James Vickery, 2015. "Evaluating the Rescue of Fannie Mae and Freddie Mac," Liberty Street Economics 20151015, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:87072
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    File URL: https://libertystreeteconomics.newyorkfed.org/2015/10/evaluating-the-rescue-of-fannie-mae-and-freddie-mac.html
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    Cited by:

    1. Sedunov, John, 2020. "Small banks and consumer satisfaction," Journal of Corporate Finance, Elsevier, vol. 60(C).
    2. Jason Thomas & Robert Order, 2020. "Fannie Mae and Freddie Mac: Risk-Taking and the Option to Change Strategy," The Journal of Real Estate Finance and Economics, Springer, vol. 60(3), pages 270-307, April.

    More about this item

    Keywords

    Housing; Financial Crisis; Government-Sponsored Enterprises; Mortgages;

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location
    • G2 - Financial Economics - - Financial Institutions and Services

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