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Fannie Mae and Freddie Mac: Turning the American Dream into a Nightmare

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Fannie Mae and Freddie Mac: Turning the American Dream into a Nightmare image
ISBN-10:

1780935234

ISBN-13:

9781780935232

Author(s): McDonald, Oonagh
Edition: Updated
Released: Jul 18, 2013
Publisher: Bloomsbury Academic
Format: Paperback, 432 pages
Related ISBN: 9781780930022
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Description:

This book examines the role of Fannie Mae, Freddie Mac and other key players in the American mortgage market, in precipitating the current global financial crisis. From President Clinton's announcement of the 'National Home Ownership Strategy' in 1995 to its collapse in 2008, this book deftly explains the aims and consequences of extending mortgage lending to people who could not afford home ownership. Bankers, investment banks, rating agencies and derivatives have all been awarded their share of the blame, while politicians, regulators and government agencies have successfully avoided theirs. Fannie Mae and Freddie Mac have been implicated, but the true story of their marriage made in hell has never been told.

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