William Poole Wants Nasty Fannie and Freddie to Go Away
Former regional Fed president William Poole argues forcefully in a New York Times op-ed today that Fannie Mae and Freddie Mac are not only unnecessary but also distort the financial markets and should be wound down. This program would also be consistent with a strategy of minimizing risk and cost to taxpayers. Probably due to space limitations, Poole did not include some arguments against the GSE’s role. For instance, the US already has the most extensive subsidies to the housing industry of an