Uncle Sam: Get out of my house!
Jeff For Banks
MARCH 9, 2013
'Freddie Mac posted a $4.5 billion fourth quarter profit. Fannie Mae did not yet report but made $1.8 billion in the third quarter. So our Government Sponsored Enterprises (GSEs) are minting over $25 billion to their owners. Uncle Sam. Folks, revenue to the government is like crack. Congress won''t be taking up GSE reform anytime soon. This poses a challenge for bankers.
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