The Corner

Freddie’s Dead

Two years and $60-plus billion in bailouts later, mortgage GSE Freddie Mac just posted another staggering quarterly loss — $8 billion in Q1.

Now, the de facto government-owned enterprise is asking for another $10.6 billion in federal dollars to prop up its necrotized housing portfolio.

Remember, the Republican alternative to the Dodd bill aims to wind down, and break up, Fannie and Freddie on a fifteen-year timeline, and to limit taxpayer exposure to the zombies in the near-term. The Democrats would rather kick the problem an indefinite distance down the road.

Daniel Foster — Daniel Foster is a former news editor of National Review Online.

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