Excellent. Someone else gets it on #1. Fannie and Freddie have always been a jobs bank, Dem slush fund, etc for Democrats and they employ ACORN types. Top Dem aides would get gigs there to loot and plunder - see Rahm and Gorelnick who positioned them to implode in the Summer of 2008.
Wrong on #1.
I know this is a common talking point that Fannie and Freddie “caused” the metldown, but this is a fallacy.
Fannie and Freddie have non-current mortgage rates that are 1/3rd of the total industry.
Other than the 2006 and 2007 vintages, Fannie and Freddie have very good credit quality paper.