Mubarak, Freddie, and Fannie
Like Mubarak, the GSEs have seen their once formidable political position reduced to one of helpless isolation, abandoned by all former supporters. However, as in Egypt, deposing former leaders does not by itself ensure a happy outcome. American housing policy is afflicted with deep political pathologies, and unless these can be confronted and overcome, a future without Fannie and Freddie could turn out to be worse than the status quo.
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