The Next Fannie Mae
The Wall Street Journal wrote an editorial on the dangerous growth at Ginnie Mae on August 11th: “The Next Fannie Mae”. It makes the same points I made the other day in “Ginnie Mae Accounts for 20% of New Mortgages In 2009″.
There is one discrepancy in the two WSJ pieces. The editorial says Ginnie Mae guaranteed $680 billion of mortgage backed securities through July. The other WSJ article said the number was $298 billion through August. Big difference.
More on this topic
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Occupy Wall Street, Consider This My Gift to You…
(Money Morning, 12/23/11)
Fannie Mae: a bottomless pit for U.S. taxpayers
(Credit Writedowns, 5/8/09)
The Debts of the Spenders: FNM Postpones the Inevitable w/New Liar Loans
(The Debts of a Nation, 4/25/09)
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