Fifteen years after failing and being rescued by our federal government, our nation’s principal secondary market makers in home mortgage loans – Fannie Mae
FNMA
The deeper reason for continuing impasse, I suspect, is that public – that is to say, citizen – ownership of secondary market makers in home loans is in a certain sense ‘natural’ in any republic, such as ours, in which both middle class standing and that standing’s primary indicator – home-owning – are deeply ingrained in the citizenry’s self-ascribed national identity.
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