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Resource ID: #17916
Subject: Housing
Source: Wall Street Journal (New York)
Affiliation: 
Date: 5-Jul

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Description

The Wall Street Journal reports on the critics of Fannie Mae, who say it has "converted its business-buying, packaging and reselling home loans- into a political currency that can be as potent as campaign contributions." In addition, critics question the mortgage company's "privileged, quasiofficial status" saying it gives them unfair advantages. Fannie Mae refutes the argument saying they have "convinced policy makers that the benefits from its rapid expansion-wider home ownership-outweigh any downside." Now legislators have begun to take sides. Kulish and Schlesinger report on this year long debate.

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