Sen. Warner for Politico: Ending Private Gains, Public Loses

WASHINGTON, D.C. – June 25, 2013 – (RealEstateRama) — In 2008, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac were nationalized and given a $188 billion capital injection by taxpayers to stay afloat. Structural reform of the GSEs seemed obvious and imminent. After all, a 30 percent national decline in home prices was a major contributor to the collapse of many financial institutions, including the GSEs. Trillions of dollars of homeowner equity, and subsequently personal savings, were wiped out, and our economy is still feeling the effects in latent consumer demand. Yet five years later, nothing has been done to address Fannie and Freddie