Senate undermines Obama--and the country--on housing
Edward J. Pinto | The American
November 06, 2011

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Article Highlights

  • It's time to start reducing Fannie and Freddie's footprints

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  • American taxpayers guarantee 95 percent of new mortgage loans made per month thanks to Fannie, Freddie and FHA

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  • The House should keep 5 policy points in mind on raising loan limits #GSEs

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Three years into the nationalization of housing finance by government-sponsored entities Fannie Mae, Freddie Mac, and the Federal Housing Authority (FHA), it is time to start reducing their footprints. This is not an easy task, for as Ronald Reagan observed in 1964, “A government bureau is the nearest thing to eternal life we’ll ever see on this earth.” The same might be said for temporary legislative enactments.

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Edward Pinto is a resident fellow at AEI

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About the Author

 

Edward J.
Pinto
  • An executive vice president and chief credit officer for Fannie Mae until the late 1980s, Edward Pinto has done groundbreaking research on the role of government housing policies in the lead-up to the financial crisis. In particular, his data have revealed striking facts about the contributions of housing policy to the mortgage crisis. Two of his major research papers have been submitted to the Financial Crisis Inquiry Commission: "Government Housing Policies in the Lead-up to the Financial Crisis: A Forensic Study" and "Triggers of the Financial Crisis." At AEI Mr. Pinto is continuing his work on the role of housing policies in the financial crisis and researching policy considerations and options for rebuilding our housing-finance sector.
  • Phone: 240-423-2848
    Email: edward.pinto@aei.org

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    Name: Emily Rapp
    Phone: 202-419-5212
    Email: emily.rapp@aei.org
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