Bruce Krasting On the Continuing Problem of GSEs and One Man Trying to Rectify Them

Bruce Krasting has a terrific post on the problems at the government-sponsored enterprises (GSEs).  Namely Fannie Mae and Freddie Mac.  Edward DeMarco wrote a letter to some Senators trying to re-emphasize the dangers of repeating the same problems, and that although there are some new players at Fannie and Freddie, the game plan of corruption and callous inactivity are continuing.  Edward DeMarco is the current head of the Federal Housing Finance Agency (FHFA).  He is trying to give a heads up to Senators such as Dick Shelby (Republican of Alabama) that Fannie Mae and Freddie Mac are sucking $10 billion of taxpayers money every month, and if they don't change the current laws and take action nothing will change.  The problem will grow.