Who can forget Alan Greenspan? But all Fed policies (like interest rates) are
"a blunt instrument," and even Greenspan has been warning about fiscal and legislative responsibilities and liabilities of GSEs in particular:
Meanwhile, in April, 2005, Federal Reserve Chairman, Alan Greenspan pointed out the dangers to the entire government financial system if the GSE’s were not reined in and sanctioned. But in the Senate, also in April, 2005, Charles Schumer a liberal Democrat senator from New York, testified at the Senate Banking Committee hearing that Fannie Mae and Freddie Mac “did a very, very good job.”