Fannie and Freddie: A Modest Proposal to "Reform the GSEs"
The GSEs have a legal problem (the SCOTUS Collins decision) and a capital problem (GSEs cant raise equity capital as is after Collins). Herewith, a simple structural solution.
The Problems
The GSEs have a legal problem and a capital problem that are irreconcilable with each other while in conservatorship. These problems need to be resolved in order for the GSEs to raise suf…
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