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Discussion Paper

Evaluating the Rescue of Fannie Mae and Freddie Mac


Abstract: In September 2008, the U.S. government engineered a dramatic rescue of Fannie Mae and Freddie Mac, placing the two firms into conservatorship and committing billions of taxpayer dollars to stabilize their financial position. While these actions were characterized at the time as a temporary ?time out,? seven years later the firms remain in conservatorship and their ultimate fate is uncertain. In this post, we evaluate the success of the 2008 rescue on several key dimensions, drawing from our recent research article in the Journal of Economic Perspectives.

Keywords: Housing; Financial Crisis; Government-Sponsored Enterprises; Mortgages;

JEL Classification: R3; G2;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2015-10-15

Number: 20151015